"The price of the ruble is one day, and if this continues, the Russian market will not be able to do it." As the ruble plunged, the head of the Russian market of a well-known domestic tire company expressed its concern to the reporter.

The Russian ruble has seen more than 10% of the cliff-like decline on many days, and the ruble against the US dollar once fell to 80:1. It is reported that since 2014, due to the continued depreciation, the ruble has become the world's largest currency. As one of the important markets for Chinese cars and tires, the sudden changes in the Russian market are seriously affecting Chinese companies. , the ruble and the Chinese company

It is understood that in addition to dragging down Russia's domestic economy, the ruble's decline has also greatly reduced the profits of many Chinese companies entering the Russian market. Some Chinese companies, including tires and automobiles, have announced a suspension of their operations in Russia.

"Now the traders have basically completed the stocking, but because the ruble has fallen too fast, we have stopped the Russian business." Mr. Zhou, the Russian sales representative of Qingdao Jingxiang Rubber Co., told Tire World. It is said that the company’s business in Russia has continued to decline this year.

Wang Yanmin, the head of the comprehensive department of Fengshen Tire Co., Ltd., said in an interview with the media that since the ruble began to fall, the company’s orders in Russia have been decreasing. According to Wang Yanmin, Fengshen Tire’s total exports to Russia in the first 11 months of this year decreased by 19.74% year-on-year. Trade with Russia accounts for about one-tenth of the company’s export trade, but this share is shrinking as the ruble falls.

It is not only the tire companies that are affected by this, but also the days of auto companies in Russia. Geely Automobile recently issued a profit warning that the net profit of the company will fall by about 50% this year due to the loss of foreign exchange exchange caused by the devaluation of the ruble.

Chery Automobile also issued a statement saying that its product price in Russia will increase by 5% in mid-December in response to the fall of the ruble exchange rate. In addition, there are reports that the independent brands such as Great Wall, Lifan, Jianghuai, BYD, Changan, Brilliance, Haima and Futian all sell their vehicles in Russia, and their sales and profits will be affected to varying degrees.

2015 or more impact

Some industry experts said that the devaluation of the ruble makes Russia experience the biggest economic crisis in this century. As one of the important target markets for China's tire export, Russia's market position is very important. The depreciation of the ruble has made Chinese tire exports worse, and has become an important issue for some Chinese companies in the near future.

It is understood that the demand for Russian tire market has grown rapidly in recent years, but as more and more Chinese companies join, many foreign companies have begun to push prices down very low. Accompanied by this, in the second half of this year, the Russian White Harbin Customs Union has initiated anti-dumping investigations on truck and bus tires imported from China.

"Today, with the depreciation of the ruble, the market will be even more difficult next year. It turned out to be a good market! It is now finished." Weifang Shunfuchang Rubber & Plastic Co., Ltd. Foreign Trade Department Manager Sang told Tire World Network, "We were in Russia before." There is business and it has now withdrawn."

Su Guobao, head of the Foreign Trade Department of the Henan Provincial Department of Commerce, told the media that the ruble plummeting has just begun. From the perspective of foreign trade, the current impact on Chinese companies is not too big, but in the first half of next year, this impact will be clearly manifested.

Fan Yongbo, sales consultant of Shanghai Yadong Exhibition Service Co., Ltd. also said that the company’s exhibition business in Russia will not be affected next year, but the ruble’s plunge has a great impact on the confidence of tire companies. Some tire companies even claimed that if the situation continues to deteriorate, go Russian participation is no longer necessary.

It is understood that as the fastest growing emerging tire market, Russia has a high position in the minds of Chinese tire exporters. In the Russian market, China's truck tires account for about 50% of the market. "In my opinion, the Russian market is second only to the American market." Fan Yongbo told reporters.

China’s tire exports this year can be described as a disaster. The US "double opposition" has made the prospect of China's largest tire export market uncertain, and the Russian market, which has great expectations of enterprises, is now experiencing successive accidents of anti-dumping and ruble depreciation, apparently making many tire companies unprepared.

"It turned out that the Russian market is relatively stable, and now it seems not optimistic." A well-known tire company in Russia told the Tire World Network. “It seems that tire companies cannot all hope to export overseas, even if they should avoid hanging on a rope.”

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