The ruble fell by more than 20% in two days. It has fallen more than 100% this year. The collapse of the ruble not only hurt the Russian capital market, but also caused some Chinese companies to lie in the shot.
Geely (00175.HK) issued a profit warning that the devaluation of the ruble caused a loss in foreign currency exchange. This year's net profit will drop by about 50% year-on-year. The news dragged the stock price of the company down by 22% for a time.
Geely mentioned that in the fourth quarter of this year, the Russian currency Ruble, one of the important markets for the company’s new car exports, suddenly depreciated sharply against the US dollar and the Renminbi, making Geely recorded that it had not realized foreign currency exchange losses.
For its operations in Russia, Geely said that it has begun to take measures to reduce the financial risks in the country and began to increase the retail sales price of cars in Russia, hoping to reduce the impact of the devaluation of the ruble. In the long run, Geely will speed up local production in major export markets to reduce the risk of foreign currency exchange in these markets.
In addition to Geely, what other car companies have business in Russia? (Data from Sohu, Gasgoo.com and other media)
Among all Chinese car manufacturers, Lifan had the highest sales volume. Accumulated sales in the previous October fell by 18.4% from 21,945 units to 17,909 units, and its market share decreased from 1.0% to 0.9%.
Geely ranked second in sales volume. Accumulated sales from 22,074 units in the previous October decreased by 34.2% year-on-year to 14,519 units, and its market share decreased from 1.0% to 0.7%.
In the previous October, the cumulative sales of Great Wall Motor Co., Ltd. dropped by 22.0% year-on-year from 16,631 vehicles to 12,965 vehicles, and its market share was still 0.7%.
Chery's cumulative sales in October from the previous 16,486 units fell 16.3% year-on-year to 13,801 units, and the market share was still 0.7%.
In the first 10 months of Brilliance, 517 vehicles were sold. The carmaker entered Russia this year.
A total of 902 vehicles were sold in Chang’an in October, and the car company entered Russia this year.
The accumulated sales of Beiqi before October decreased by 28.4% from 1,346 units to 964 vehicles.
In the first half of this month, Haima's cumulative sales increased by 150.4% from 276 vehicles to 691 units.
A total of 349 vehicles were sold in October before the JAC, and the car company entered Russia this year.
Nazhijie sold a total of 81 vehicles in the first 10 months of this year. The car company entered Russia this year.
The accumulated sales of Foton in the previous October increased by 916.7% year-on-year to 61 units.
The cumulative sales of FAW in October from 3,739 vehicles fell 42.1% year-on-year to 2,164 units.
BYD’s cumulative sales in the previous October fell by 95.1% from 102 units to 5 units.
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