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Russia imposes charges to stem flood of low-cost Chinese language vehicles
The Tycoon Herald > Economy > Russia imposes charges to stem flood of low-cost Chinese language vehicles
Economy

Russia imposes charges to stem flood of low-cost Chinese language vehicles

Tycoon Herald
By Tycoon Herald 6 Min Read
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Russia is making an attempt to curb a flood of Chinese language car imports in a blow to Chinese language producers and merchants which have more and more come to depend on shipments to its ally.

Chinese language car exports to Russia final 12 months hit seven instances the extent of 2022 as sanctions over the warfare in Ukraine minimize the nation off from western manufacturers, in line with the China Passenger Automobile Affiliation.

Carmakers in China additionally embraced the Russian market after anti-dumping measures impeded gross sales in markets together with the US, EU, Canada, Turkey and Brazil.

“International brands [in Russia] have been completely replaced by Chinese cars,” mentioned Cui Dongshu, CPCA secretary-general, including: “If the Russian-Ukrainian crisis ends, the pressure on Chinese automakers will increase dramatically.”

Russia purchased up greater than 1mn Chinese language automobiles final 12 months, absorbing about 30 per cent of its neighbour’s petrol automotive exports. The surge handed Chinese language manufacturers 63 per cent of the Russian market, and despatched native manufacturers’ market share right down to 29 per cent, in line with the CPCA.

Russian authorities have begun to push again. In January, Moscow raised “recycling fees”, which perform akin to tariffs, to Rbs667,000 ($7,500) for many passenger vehicles, greater than double the extent of final September. The costs are set to rise by 10-20 per cent yearly till 2030.

Gregor Sebastian, an automotive analyst at Rhodium Group, mentioned Russia shared different international locations’ issues about “an influx of cheap Chinese vehicles undermining domestic manufacturing”.

“They want them to step up local production,” he mentioned. “For a while they felt like they had no other choice, but now they are recognising they have bargaining power — they’re a quite important market for Chinese carmakers.”

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Russia imposes charges to stem flood of low-cost Chinese language vehicles

A Russian inquiry additionally just lately discovered three main Chinese language truckmakers violated security requirements and banned one mannequin from being offered within the nation. Officers have signalled they may roll out new compliance and testing checks for imported automobiles.

A lot of the increase has flowed by means of border cities in north-eastern China comparable to Suifenhe. Exports to Russia from Suifenhe elevated fivefold from 2020 to just about Rmb14bn ($1.9bn) final 12 months, making it China’s most energetic buying and selling hub with Russia, excluding oil and fuel.

“There is a lot of concern, a lot of grumbling about the tariffs, and what it will mean for us,” mentioned a Chinese language service provider within the city of 100,000, the place vehicles able to ship lined icy streets. “Europe and America sanctioned them, so they turned to us.”

State-backed Chery was the highest Chinese language carmaker in Russia, the place it offered 430,000 automobiles within the first three quarters of 2024, equal to twenty-eight per cent of its complete gross sales by quantity, in line with CPCA knowledge. 

The corporate, which is in search of an preliminary public providing in Hong Kong, mentioned that it “generated considerable revenue from sales to Russia” in its itemizing paperwork however disclosed plans to downscale Russia gross sales to “mitigate sanctions risks”. 

Chery declined to touch upon how such a pivot would have an effect on its gross sales figures.

The increase has additionally offered an outlet for second-hand and petrol vehicles, which Chinese language producers are struggling to promote at residence as electrical automobiles turn into extra fashionable. Petrol automobiles accounted for 97 per cent of these despatched to Russia final 12 months.

Native officers in Suifenhe mentioned second-hand automotive exports rose 612 per cent in 2024. The surge got here from new Chinese language insurance policies to facilitate used automotive exports and a “cash for clunkers” scheme geared toward stimulating home consumption that incentivised many drivers to promote outdated petrol vehicles.

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Automobile exporters in Suifenhe mentioned Russian recycling charges weren’t but being universally collected. In addition they pointed to loopholes within the Russian insurance policies.

Chen of Suifenhe China Pace Automobile Exports, who most well-liked to be recognized by solely his surname, mentioned that he was now promoting on to Russian drivers to keep away from the recycling charges. 

“Our volumes are similar but there’s much more work involved,” he mentioned. “Before with the dealers, we’d sign a contract for 50 or 100 cars. Now it’s one contract for one car.”

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