Most of the cars were imported in the fall
The period of special prices for cars in Russia is gradually coming to an end along with a reduction in inventories of Chinese passenger cars, as reported by Kommersant.
According to Gazprombank Leasing, at the end of February, the inventories of passenger cars from China amounted to almost 100 thousand units, which corresponds to two to three months of sales. The calculation took into account the top 16 Chinese brands, which in 2023 accounted for 49% of all cars sold in the Russian Federation and 90% of the volume of new cars imported from China.
The stock was formed from vehicles ordered for delivery in the fall — until demand declines due to an increase in the Central Bank rate and an increase in the cost of financing. Importers and dealers were forced to clear inventory, reducing costs through various measures such as direct discounts and subsidies for leasing and credit programs. By March, this policy led to a decrease in flow volumes.
Director of the New Car Sales Department «Rolf» Nikolai Ivanov notes that the situation with warehouses is improving, and their volumes are becoming more balanced. Distributors understand the difficult situation of the dealer business and stop shipping cars until the market normalizes. At the same time, Chinese New Year led to a reduction in supplies. Experts expect that the abandonment of promotions and discounts will occur in the near future.
Parallel imports will begin to rise in price from April 1 due to new import rules from the EAEU, which will first be reflected in the prices of used cars, and then on new cars. Deputy General Director of «Avilona» According to new car sales, Renat Tyukteev believes that the peak of discounts will be reached in the first quarter, after which discounts will begin to fall.
Evgeniy Zhitnukhin, head of the dealership department of the Fresh automobile marketplace, notes that the warehouses of dealership centers of Chinese brands are still overcrowded, as automakers continue to supply models released in 2023. However, he expects the discounts and special offers to last only until the end of March.