Russia’s biggest carmaker increased its share of the local market last month despite failing to overcome a decline in annual sales, while Chinese companies also took advantage of an exodus of western companies.
(Bloomberg) — Russia’s biggest carmaker increased its share of the local market last month despite failing to overcome a decline in annual sales, while Chinese companies also took advantage of an exodus of western companies.
Almost all automakers working in Russia stopped production in the country after President Vladimir Putin’s invasion of Ukraine led to sanctions that crimped supplies of parts. Avtovaz PJSC, which resumed production in June, boosted market share of its Lada brand to 43.4% in August from 17.5% a year earlier with 18,087 units sold.
August sales of automobiles and light commercial vehicles in Russia declined by 62.4% against the same month a year earlier compared with a decline of 74.9% in July, according to data published Tuesday by the Association of European Business that exclude some manufacturers. Month-on-month they rose by almost 29% to 41,698 units.
China’s Great Wall Motor Co. boosted sales of its Haval brand by 26% and increased its share of the market overall to 7.5% versus 2.1% the previous year. While sales of Geely Automobile Holdings Ltd. declined by 8.1%, its share increased to 4.8%.
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