2 March 2024, Saturday, 12:51
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China Seizes Belarusian Car Market

China Seizes Belarusian Car Market

The share of Chinese cars has reached 84%.

Chinese brands have taken 84% of the Belarusian car market. Sales of new cars are growing, but the market recovery is gradually exhausting its potential. This is stated in the report of BAA chairman Siarhei Varivoda.

In November, dealers, members of the association, sold 3,057 new cars, including 2,689 passenger cars. The volume of new passenger car sales increased by 340 per cent compared to November last year.

"The recovery rate of the passenger car market as a whole for the period January-November 2023 was 140%, indicating the gradual exhaustion of the low base effect and a slowdown in the pace of recovery dynamics," the commentary said.

Both demand and supply-side factors contributed to the recovery growth. This is about the growth of household incomes, as well as improving credit conditions. On the supply side, the growth was provided by stable prices and increase in the number of offered models. Since the beginning of the year it has increased from 35 to 75.

"The share of passenger cars of Chinese brands in the reporting month exceeded 84%. The domestic carmaker has a steadily high market share. Passenger cars, which came off the BelGee assembly line, accounted for 70% of dealer sales," Varivoda noted.

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