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Car dealers announced the threat of stopping the supply of cars and spare parts from China

Автодилеры заявили об угрозе остановки поставок машин и запчастей из Китая

The supply of Chinese cars was under threat due to the blocking of payments, Autonews writes, citing a statement by the President of the Association of ROAD (Russian Automobile Dealers) Alexey Podshchekoldin.

New Africa/Shutterstock/Fotodom

Photo: New Africa/shutterstock

According to the head of ROAD, cars and spare parts are “freezing” due to the inability to make payments in China. He calls the problem huge and sees it as a serious threat to the Russian car market. Alexey Podshchekoldin noted that the difficulty with transferring funds for products from the Middle Kingdom is quite new and has not yet been resolved.

The head of the Road Traffic Safety Inspectorate added that he himself faced difficulties.

“My company has been struggling for two months and trying to make payments. The money hangs or comes back,” said Podshchekoldin.

Currently, there are only four Chinese banks represented in Russia, and one Russian bank in China (VTB). In China, money comes in, but its further movement is suspended, noted the head of the dealer association. To solve the problem with payments, the ROAD proposes to actively introduce new payment systems that are already available for settlements between Russia and China, as well as to open branches of Chinese banks in Russia and branches of Russian banks in China. If this is not done, fewer new cars will be imported and their prices will rise, Podshchekoldin is sure.

A new brand of electric cars from China, Neta, will appear in Russia

The German company BMW supplied cars with “prohibited” spare parts from China to the United States.

News source

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