The Association of European Businesses (AEB) revealed depressive car market in Russia for seven consecutive months in September while Chinese carmakers have outperformed the local market.
In the month, Geely Automobile Holdings Ltd. (SEHK: 0175) sold off 2,311 vehicles in Russia, increasing 26.1% from 1,832 vehicles a year ago.
Since May, Geely Automobile has recorded highest sales volume among Chinese carmakers in the nation, maintaining the leading status for five consecutive months. In May and June, local sales volume of the company boosted 119.5% and 133.2% respectively. Since July, Geely Automobile has continued double-digit growth year on year for the figure.
In January-September period, the company sold off 19,561 vehicles in Russia, jumping 64.3% from 11,899 vehicles a year earlier.