Russia's Auto Market Sees Price Hikes and Discount Cuts
Russia's automotive market is witnessing a wave of price hikes and reduced discounts. Geely has led the way, revising sales terms for its 2024-2025 lineup. Most distributors have followed suit, with Hongqi being the sole exception expanding offers.
Geely's move includes scaling back or eliminating discount tire programs across its entire lineup. Other manufacturers have also raised prices or reduced bonuses. Omoda has increased prices for the C5 and Active 25PY by 50,000 rubles. GAC, Tank, Bestune, SWM, Soueast, and KGM have all raised prices on various models. Jetour has slashed bonuses on select models by up to 200,000 rubles or eliminated them altogether.
Haval has raised the price of its 2025 H9 SUV in Elite and Premium trims by 100,000 rubles and reduced discounts on previous year’s versions. Lada has cut discounts on its 2024 Vesta Sportline and Vesta SW Sportline models by 10,000 rubles. Belgee has reduced its promotional offer on the 2025 X50 by 30,000 rubles. Meanwhile, Hongqi is bucking the trend, increasing discounts on all 2025 HQ9 trims.
These changes reflect broader economic and regulatory challenges in Russia. In recent weeks, international brands like IKEA, L'Oréal, and Unilever have also restructured or discontinued discount tire programs. Consumers can expect fewer promotions and higher prices in the near future.
