Russia March 2024: Chinese push market up, Belgee in Top 10
Belgee X50
New passenger cars in Russia are up 109.4% year-on-year in March to 146,526 units, showing Western sanctions levelled following its invasion of Ukraine are not impacting the market anymore. The year-to-date tally is up 93% to 330,692. Note: compared to last year our Russian data source has shifted to PPK JSC, which explains some inconsistencies vs. year ago figures. Lada (+64.5%) holds onto the brands top spot but sees its share fall from 34.7% a year ago to 27.2% this month. The next 9 brands are Chinese and account for 49% of the market, meaning that as a whole they are way above 50%.
Haval (+134%) reclaims the 2nd spot off Geely (+185.4%) while the rest of the Top 8 is unchanged on last month. Lixiang (+14970.8%) celebrates one year in market and stays at a record 8th place. Changan (+805.8%) is the only additional brand to beat the market, with Omoda (+93.3%), Chery (+63.7%) and Exeed (+38.4%) softer but still managing significant growth. Belgee, a joint-venture between the Belarusian government and Geely which sells rebadged Geely vehicles, points its bonnet inside the Top 10 for the first time at #9. Newcomer Jetour lodges its 2nd Top 10 finish after last October at #10.
Model-wise, the Lada Granta (+10.1%) is pushy and with a market share sliced in two year-on-year from 24.3% to 12.8%. The Lada Vesta (+2614.1%) rallies back up as production hadn’t yet resumed a year ago. The Haval Jolion (+92%) remains the best-selling foreigner at 4.4% share but trails the market slightly. The Lada Niva Travel (+30.8%) underperforms but gains one spot on February to #4. The Geely Monjaro (+2944.1%) is the best performer in the Top 10 at #5. The Chery Tiggo 7 Pro Max (+222.9%) also impresses. The Haval M6 manages its first Top 10 finish since last October at #9.
Previous month: Russia February 2024: Chinese brands above 50%, Geely up to record #2
One year ago: Russia March/Q1 2023: Chery up to #2, Chinese surge from 8.9% to 42% share year-on-year
Full March 2024 Top 10 brands and Top 10 models below.
