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Exclusive: Chinese car sales boom in Russia levels off amid shaky local recovery

November 24, 2023
Source: reuters.com reuters.com
News Snapshot:
MOSCOW, Nov 24 (Reuters) - Chinese car sales in Russia appear to have peaked as domestic production recovers after the exodus of Western automakers, data shared with Reuters showed, but recent growth in the market may stall as high import costs and interest rates begin to bite. The figures are early indicators that Russia's car market, and China's role in it, have stabilised after nearly two years of upheaval caused by sanctions placed on Moscow and Western companies' sudden exit in the wake of the invasion of Ukraine. But the sector, which saw an almost 60% slump in sales in...
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