On March 7, according to data from the General Administration of Customs, China exported 831,000 cars from January to February 2024, a year-on-year increase of 21.85%; China imported 103,000 cars from January to February, a year-on-year decrease of 2.83%.

According to sales statistics from the General Administration of Customs, in the first two months of 2024, my country's exports of mechanical and electrical products were 2.22 trillion yuan, an increase of 11.8%, accounting for 59.1% of the total export value. Among them, automatic data processing equipment and its parts were 195.45 billion yuan, an increase of 7.3%; integrated circuits were 160.71 billion yuan, an increase of 28.6%; automobiles were 111.89 billion yuan, an increase of 15.55%; and automobile spare parts were 28.5 billion yuan, an increase of 17.32%.

From February 1, 2024, the Russian government has eliminated the requirement for "parallel" cars, allowing importers to save costs. However, while changes are likely to occur, this is not a major impediment to imports. The installation cost of the ERA-GLONASS module is relatively low (5-8 thousand yuan), and the certification and import authorization procedures, although difficult, can be completed. All imported vehicles must be certified. Large importers use vehicle type certification, while private individuals use a single authorization process. The government has also introduced the possibility of importing cars without the rights holder's consent, making it easier to import small batches and single pieces.

Despite the uncertainty, experts don't expect major changes in the automotive market. Privately imported cars may be subject to end-of-life disposal policy restrictions, but this will not have much impact on the market because official representatives of major brands are engaged in parallel imports. Minister of Industry and Trade Denis Manturov confirmed the extension of the parallel import mechanism and ruled out the possibility of narrowing the list of parallel imports.