MOSCOW, November 26. /TASS/. Chinese brands hold about 70% share of the new car market in Russia, according to Avito auto data analyst Artem Sokolov.

At the same time, local Russian brands have reached their planned production capacity. Their share in the new car market in October 2024 reached 22%.

"As for the composition of the market by brand, at the moment the Chinese have stabilized at around 70%, while the domestic manufacturers have increased by 7 percentage points in the last 12 months and are now at around 22%," he said.

As for the average cost of new cars, in October 2024 it decreased by 5.1% to 3.4 mln rubles ($32,003). At the same time, the average price of a used car changed slightly, increasing by 2.5% to 1.45 mln rubles ($13,647).

Earlier, Russia’s Minister of Industry and Trade Anton Alikhanov said that now imported brands occupy 60% of the domestic car market.

According to Autostat, sales of new cars in Russia in October this year increased 1.5-fold to 171,200. The top 10 best-selling brands included local Lada (1st place), Japanese Toyota (9th place), while the remaining positions in the rating were occupied by Chinese brands.