Chinese Cars dominate the Russian Taxi Market; Lada comes second

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Frontier India News Network
Frontier India News Network
Frontier India News Network is the in-house news collection and distribution agency.

Taxis manufactured by Chery and Lada experienced a large surge in demand in Russia during the first three months of this year. This is according to the findings of a study that VTB Leasing carried out and reported by TASS.

VTB Leasing analysed the available data on car lease transactions conducted by financial institutions during the first quarter of 2023. The Chery Tiggo 4, the Lada Granta, and the Cherry Tiggo 7 Pro are the models that have been selling the most copies. According to the survey findings, the percentage of the company’s car leasing business contributed by taxi businesses was 10%.

The Chinese Chery was picked as the vehicle of choice by cab companies 42% of the time during the first three months of 2023. The Lada came in at number two with 28% of the market share for leasing vehicles. Geely, an automaker based in China, comes in third with an eight per cent market share. JAC and Haval, Chinese automakers, rounded out the top 5 with respective percentages of 7.4% and 6.4%, respectively.

In Russia, the vehicles with the highest demand are the Chery Tiggo 4, the Lada Granta, the Chery Tiggo 7 Pro, the Geely Coolray, and the JAC J7. According to another section of the research, the Hyundai Solaris, Kia Rio, Kia Cerato, Renault Logan, and Lada Vesta were the top five best-selling automobiles in the country during the first three months of 2022, respectively.

Prices for replacement parts and brand-new, foreign-made taxis increased last year. Particularly pressing was the accessibility of B- and D-segment sedans to replace the Volkswagen Polo, Toyota Camry, Kia Rio, and Optima. Chinese automakers have organised imports and local production, built spare parts warehouses and formed vast dealer networks, all of which have contributed to the widespread usage of Chinese automobiles in the taxi industry. Leasing companies also provide special pricing and more accommodating financing conditions to businesses. According to the study’s cited expert, Andrei Getmanyuk, head of VTB Leasing’s business development department, this allows taxi operators to replace their fleets without incurring significant costs.

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