Russian carmakers set to rival Chinese carmakers

Shanghai, November 14 (Gasgoo.com) Russia has been one of the most important overseas markets for Chinese automakers, but since the beginning of this year the Russian government has erected many trade barriers against China's auto exports, and Russian automakers are becoming potential rivals for Chinese carmakers, said xinhuanet.com today.

Recently, Russia's Gaz Group, an auto giant with annual sales valued at $6 billion, has boosted its China sourcing of tires, rear bridges and rubber parts, and it will buy two million tires in China. For this huge business, the Russian carmaker has set up a sourcing office in China.

For many years, Russian has been an important destination of China's auto exports. However, the Russian government has begun to protect its own auto companies this year by imposing prohibitive rules and tariffs, among others, on Chinese automakers operating in or exporting to Russia.

In the near future, Russia's automakers will become potential strong rivals to compete with Chinese auto companies for the emerging huge markets.