Dongfeng Motor Rus (Dongfeng in Russia)

Performance indicators

2023: Revenue growth by 5 times to 8.2 billion rubles

The revenue of the official representative office of the Chinese automaker Dongfeng in Russia in 2023 reached 8.2 billion rubles, which is 5.1 times more than a year earlier (1.61 billion rubles). Net profit of Dongfeng Motor Rus LLC during this time rose by 53%, to 472 million rubles. The company released such data in February 2024.

According to Interfax, citing the financial statements of Dongfeng Motor Rus LLC, in 2023 the cost of sales jumped almost sevenfold, above 6.8 billion rubles. Commercial expenses increased 1.9 times to 254 million rubles. The company's gross profit amounted to more than 1.3 billion rubles.

Dongfeng Russia

The total debt of the Russian subsidiary Dongfeng by the end of 2023 increased by 82.4% compared to the same period in 2022 - up to 2.6 billion rubles. In particular, short-term liabilities jumped almost 14 times to 2.5 billion rubles due to an increase in accounts payable by more than 2.4 billion rubles. The distributor's long-term liabilities, on the contrary, decreased to 103 million rubles from 1.2 billion rubles at the beginning of 2023.

From the materials of Dongfeng Motor Rus LLC, it also follows that in 2023 the company purchased cars and spare parts worth 4 billion rubles. Its main debtor was Motorinvest (has an agreement on the distribution of Dongfeng cars on the Russian market), whose debt for the received cars at the end of 2023 amounted to 234 million rubles. In general, in 2023, receivables from the Russian representative office of Dongfeng increased by 80% and amounted to 609 million rubles.

By the end of 2023, Dongfeng products in Russia were represented mainly by models of the premium brand of Voyah. According to the manufacturer's own data, Voyah took first place in sales of electric vehicles and hybrid cars in the premium segment in Russia.^[1]

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