Since Moscow invaded, European, Japanese, and other nations’ vehicle brands have left the Russian market, though China has remained — and surging demand there has helped it notch a record year and surpass Japan as the world’s top auto exporter, according to a Wall Street Journal report.
China’s top auto company Chery saw a boom in sales to Russia over that stretch, sending 900,000 cars overseas in total.
At the same time, domestic demand in China also bounced back in 2023 with its electric-vehicle sector fueling its strongest growth in several years, the car association said.
Chinese Tesla rival BYD, for instance, beat out Elon Musk’s company as the world’s top EV seller in the most recent quarter.
In the aftermath of the invasion, purchases of foreign-made cars in Russia neared a standstill, according to a July report from Yale researchers.
A combination of soaring prices, weak consumer sentiment, and dwindling supply has sent domestic car sales crashing to roughly a quarter of pre-war times.
The original article contains 347 words, the summary contains 165 words. Saved 52%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Since Moscow invaded, European, Japanese, and other nations’ vehicle brands have left the Russian market, though China has remained — and surging demand there has helped it notch a record year and surpass Japan as the world’s top auto exporter, according to a Wall Street Journal report.
China’s top auto company Chery saw a boom in sales to Russia over that stretch, sending 900,000 cars overseas in total.
At the same time, domestic demand in China also bounced back in 2023 with its electric-vehicle sector fueling its strongest growth in several years, the car association said.
Chinese Tesla rival BYD, for instance, beat out Elon Musk’s company as the world’s top EV seller in the most recent quarter.
In the aftermath of the invasion, purchases of foreign-made cars in Russia neared a standstill, according to a July report from Yale researchers.
A combination of soaring prices, weak consumer sentiment, and dwindling supply has sent domestic car sales crashing to roughly a quarter of pre-war times.
The original article contains 347 words, the summary contains 165 words. Saved 52%. I’m a bot and I’m open source!