Li Auto (China) is Popular in the Russian Market
In 2024, new hybrid vehicle sales in Russia will increase significantly. Hybrid vehicle sales will reach 62,850 units, a nearly tripling of sales. This is a remarkable performance for the Russian auto market, laying the foundation for further expansion in this segment. Li Auto (China) holds the top spot in hybrid vehicle sales, surpassing brands like Lantu and BMW. More and more Russian buyers are realizing the advantages of hybrid vehicles and are choosing them over pure electric vehicles, which have yet to fully conquer the Russian market.
Explosive Growth
According to Autostat, an automotive market analysis agency, new hybrid vehicle sales in Russia will reach a record 62,850 units in 2024, a 2.9-fold increase from the previous year. This explosive growth is largely due to the strong sales of Li Auto, a premium Chinese brand, which has successfully captured the Russian hybrid vehicle market. Hybrid vehicles eliminate the range anxiety faced by pure electric vehicle owners, making them an ideal choice for the Russian market. More and more Russians are choosing hybrid vehicles because they can travel over 1,000 kilometers on a full tank of gas. Pure electric vehicles not only have a shorter range but also lack charging infrastructure.
From Pure Electric to Hybrid Vehicles
In 2023, pure electric vehicle sales in Russia increased 3.7 times, but only grew 26.4% in 2024. This simply proves that Russian consumers are increasingly favoring hybrid vehicles, as their practicality and range are more attractive. Under current conditions, hybrid vehicle growth rates can exceed those of pure electric vehicles. Forecasts for 2025 indicate that hybrid vehicles will continue to be popular.
Li Auto's sales in 2024 reached 23,180 units, a 3.9-fold increase. In second place was the Lantu brand under China's Dongfeng Motor Group, which also performed well, with sales reaching 8,680 units, a 1.4-fold increase. BMW rounded out the top three, with sales of 7,300 units, a 63.7% increase. Mercedes-Benz was also a successful brand, with sales increasing by 81.9%. The most popular model is the Ideal L7, followed by the Ideal L9 and the Lantu Free. Chinese hybrid car manufacturers continue to consolidate their position in the Russian market, launching new models that pose a strong challenge to traditional brands.
Impact of Price Increases
Earlier this year, new hybrid car prices in Russia rose by 1.5-5%. The increase was attributed to increased scrapping taxes and exchange rate fluctuations. This price fluctuation affected both Chinese brands and other brands such as Lada and BMW. Experts warn that continued price increases could constrain sales growth. Sharp price increases for parallel-imported European premium hybrid cars have led many buyers to increasingly favor more competitively priced Chinese brands.
Despite the challenges of price increases, Russia's hybrid car market is expected to continue to grow. Experts believe that hybrid car sales in Russia could increase by 20-25% by 2025, and hybrid vehicles will account for a significant share of the Russian auto market in the future. The continued introduction of new models will only reinforce this trend, with more and more Russian car owners switching to hybrid vehicles each year.
In 2024, hybrid vehicles became one of the most notable trends in the Russian auto market, and this segment is expected to continue to grow. However, rising prices and potential legal changes will impact purchasing power and slow growth. Despite these challenges, hybrid vehicles are clearly gaining popularity in Russia, becoming the choice of a growing number of car owners.
Hybrid vehicles are gaining increasing prominence in the Russian new car market. Their popularity has grown in recent years, driven by technological advancements, fuel efficiency, and environmental advantages. The Russian auto market is undergoing a major transformation, making hybrid vehicles an attractive alternative to pure electric vehicles and traditional fuel-powered vehicles.
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