Workers walk past new Chinese cars unloaded from a ship at a commercial port in Vladivostok, Russia August 25, 2023. REUTERS/Tatiana Meel
Russia's auto industry was heavily reliant on investment, equipment and parts from overseas and hit hard by the fallout from Western sanctions over Russia's invasion of Ukraine, with sales plunging 59 per cent in 2022 and many foreign automakers leaving the country. Autostat said seven of the top 10 spots by market share after Lada - the flagship model of Russia's leading carmaker Avtovaz - were taken by Chinese automakers such as Haval, Chery and Geely, which have moved in to replace departing Western brands.
Source: News Formal (newsformal.com)
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