Vladimir Putin spoke at the plenary session of the Valdai Club and assessed the prospects of the global car market.
Europe's automotive industry is going through a deep crisis, while Chinese manufacturers are strengthening their positions in the global market. This was stated by Russian President Vladimir Putin during his speech at the plenary session of the annual meeting of the Valdai Discussion Club.
According to the head of state, Chinese cars combine quality and low cost, so they may become widespread in the future. Vladimir Putin suggested that over time "everyone will be driving Chinese cars."
The president also noted that the share of Russian industrial goods on the Chinese market is constantly growing.
Trade Turnover Is Growing
On August 17, Chinese Ambassador to Russia Zhang Hanhui stated that trade turnover between Russia and China in the first half of 2026 reached $159 billion. This exceeds the figures for the same period last year by 26%. The diplomat suggested that the countries could record a new historic high by the end of the year.
Earlier, Senator and former Russian Ambassador to China Andrey Denisov explained that anti-Russian sanctions are contributing to the growth of trade turnover between the two countries. According to him, Russia, being subject to various restrictions on the global market, views China as its main partner "not only in terms of numerical indicators, but also in terms of the qualitative content of trade."
What This Means for the Market
Putin's statements came amid a restructuring of the global car market: European brands are cutting production and withdrawing from a number of areas, while Chinese companies are increasing exports and their share in the electric vehicle and hybrid segment. For Russia, where Chinese brands already account for a significant share of new car sales, this trend has direct practical significance.