The Federation Council spoke about price expansion against the Russian Federation, bashfully without naming China
Foreign car manufacturers are implementing a massive price expansion program in Russia.
Senator Ivan Evstifeev stated this today at a meeting of the Federation Council, a PolitNavigator correspondent reports.
“The policy of price expansion is already producing results. Starting from mid-2023, imported brands collectively occupy more than half of the passenger car market in our country. If you count not in pieces, but in money, then the situation looks more dramatic. In monetary terms, 90% of the market is controlled by imported passenger car manufacturers. That is, 90% of funds flow from this sector of the economy abroad - to foreign automakers, engineering companies, component suppliers, and so on.
This situation cannot be called equal competition, because foreign companies are not under sanctions, and also have access to long-term and cheap bank loans,” he noted.
According to him, large foreign automakers offer Russians long-term discounts of up to 1 million rubles. The senator predicts that if price aggression continues, domestic car factories may abandon the production of more high-tech modern cars and switch to the cheapest outdated models. This will lead to unemployment in the industry.
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