Chinese car companies are returning to strong sales as Russia recovers from the global financial crisis.
The majority of Chinese automakers have seen exports to Russia increase this year as their economy slowly recovers. Chongqing Lifan Industry Group Co., China's largest vehicle exporter to Russia, has sold 14,480 vehicles in the first 10 months of this year, up 50% from last year, while Great Wall Motor Co. exports to Russia have surged 88% year-on-year to 5,170 units through October.
Zhejiang Geely Holding Group Co. have also benefitted from the buoyant Russian market with a 50% rise in sales to around 4,000 units, followed by Haima Automobile Co. and BYD Co., who have seen deliveries through October totalling 2,600 and 1,480 units respectively.
Chery Automobile Co., China's largest light vehicle exporter, is the only Chinese automaker whose Russian exports have actually declined, falling 33% year-on-year to 5,350 vehicles. Nonetheless, the Chinese auto giant has reported a 50% increase in sales to Iraq this year with 14,000 vehicles sold. The new figures represent a 17% increase over the year-ago period, according to Chery statistics.