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Automobiles

Great Wall Motor's Russia revenue jumps 73% as rivals recede

China's largest SUV maker has 'no plans' to acquire abandoned Western auto assets

For the first two months of the year, Great Wall Motor's Haval sold 9,859 units, a 46% increase year-on-year.   © Reuters

HONG KONG -- Great Wall Motor, China's largest maker of sport utility vehicles, saw revenue in Russia surge last year as Western and Japanese rivals pulled back from a market hit by Western sanctions in response to the war in Ukraine.

The Chinese automaker's revenue in Russia rose 73% on the year to reached 8.57 billion yuan ($1.25 billion) in 2022. Great Wall's overall revenue grew less than 1% last year, as sales at home dropped 8%.

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