The Avtotor plant in Kaliningrad, which is engaged in contract assembly and distribution of BAIC and Kaiyi cars, reported significant losses of 4.3 billion rubles.
In 2024, Russians purchased 7,893 Kaiyi cars, which is comparable to sales of brands such as Zeekr, Hongqi, and Mercedes-Benz. BAIC sales amounted to 10,635 cars, but neither brand reached leading positions in the market.
Financial results according to Russian Accounting Standards (RAS) showed that the local representative office of Kaiyi, KAI RUS LLC, ended the year with a loss of 1.86 billion rubles.
At the same time, BAIC's revenues, represented through BAIK RUS LLC, increased by 42% to 15.6 billion rubles, but the company also suffered a loss of 2.4 billion rubles.
The beneficiary of both companies is Vladimir Shcherbakov, the owner of the Avtotor plant. To stimulate demand for their cars, both brands recently announced significant discounts.
Read more on the topic:
Avtotor Lowers Car Production Plan
Avtotor Decides to Continue Cooperation with Little-Known Chinese Brands