We are ready for 2024: exporting second-hand passenger cars to the Russian market

Indeed, the second-hand passenger car market in China has a relatively abundant supply to Russia, and its influence in the Russian market has significantly increased in recent years. Here are some key points to illustrate this trend:

1. Market share growth: The market share of Chinese brand passenger cars in the Russian market is growing rapidly, exceeding 50% by 2023, and is expected to further increase to over 60% by 2024. This is not only reflected in the sales of new cars, but also in the import of used cars.

2. The import volume of used cars has increased: Data shows that approximately 150000 to 200000 Chinese used cars are imported to Russia every year, forming fierce market competition with Japanese used cars. This indicates that Chinese second-hand cars have become one of the important sources of the Russian market.

3. Policy and market demand: Russia's policy adjustments to imported used cars and preferential policies for new energy vehicles have provided favorable conditions for Chinese used cars to enter the Russian market. With the increasing acceptance of Chinese automotive brands by Russian consumers, demand continues to grow.

4. Brand recognition: Russian government officials such as Putin have expressed appreciation for the quality of Chinese cars, which has enhanced the credibility of Chinese brands in the Russian market and promoted trust in second-hand car transactions.

5. Market competition pattern: Although Japanese second-hand cars still have strong competitiveness in Russia, Chinese second-hand cars are gradually expanding their market share with cost-effectiveness, rich product lines, and continuously improving quality.

6. Changes in export structure: With the unprecedented share of Chinese new cars in the Russian market, Chinese second-hand cars have also benefited from this background and become an important component of imported vehicles from Russia.

In summary, China's second-hand passenger cars have become an important source of supply in the Russian market due to their price advantages, increasingly improved quality, and policy support, meeting the local market's demand for affordable and reliable transportation.