Prices for some Chinese cars began to decline due to full warehouses, experts from Otkritie Auto (the auto business unit of Otkritie Bank) reported. According to their data, only market leaders showed an increase in sales in November; as a result, a significant part of brands began not only to reduce recommended retail prices, but also to return significant support for trade-in and F&I.
In absolute numbers, Russians were the best sellers of Haval cars in November. 14.4 thousand cars found customers (an increase of 12%). The total number of Chery sales amounted to 11.3 thousand cars (plus 3% compared to October). Geely also showed an increase of 1%, selling 10.6 thousand cars. The Changan brand was also in the black, selling 6.6 thousand cars, 4% more than a month earlier. For the remaining brands from the top ten most successful “Chinese” brands in our market, sales in November either did not grow or even decreased. This may be the basis for revising the pricing policy.
“In the third ten days of November, one could notice that, in the struggle for market share, leading China brands began to reduce recommended retail prices for a number of models and return significant – several hundred thousand rubles – support for trade-in and F&I, and donate winter tires. And December at the start was already marked by an increase in the activity of customers who were attracted to showrooms by more humane price tags. For those who have been postponing the purchase for a long time, now is a good time to bargain and get a car at a good discount. In January, the same period will not end yet, but it will be easier for dealers to create urgency by showing customers new price tags for goods expected for delivery,” said Marina Dembitskaya, head of Otkritie Auto.
2023-12-06 18:09:00
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