The era of “easy money” for Chinese automakers in Russia has come to an abrupt end. Once a highly lucrative market where each exported vehicle could fetch tens of thousands of yuan in profit, Chinese car exports to Russia have seen a dramatic decline, battered by a combination of tightening policies and a cooling market.

 

According to data released by the China Passenger Car Association (CPCA), from January to September this year, China exported 357,700 complete vehicles to Russia, a significant year-on-year drop of 58%. This sharp decline means Russia is no longer China’s largest automotive export destination.