Russian dealers will increase prices for cars from China by 10% from September. The possible price increase at ROAD is due to problems with bank payments between the two countries, Izvestia writes.
Author:
https://rb.ru/author/pardaeva/
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Agreements between Russia and China last for several months and some transfers are returned, which immediately increases the cost of delivery, said the head of the association, Alexey Podshchekoldin.
- Major Chinese banks have stopped accepting payments from the Russian Federation, while others have tightened their working conditions with Russian clients for fear of secondary sanctions from the United States. Today, 98% of Chinese banks do not conduct direct transactions in yuan from the Russian Federation.
At the same time as these difficulties arose, the Central Bank raised the key rate to 18% and commercial lending increased to 26-30%, he noted.
“At this cost of money, the business is losing 2% a month, with no return. Taking into account the two-month suspension of working capital, car dealers lost about 8% of their investments, which will surely affect the cost of delivery and the price of cars,” said Alexey Podshchekoldin.
According to market participants, if the payment problem continues, then against the background of an increase in recycling fees, we should expect another price change by the end of the year.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
