07:38 AM EDT, 06/27/2024 (MT Newswires) -- ZEEKR Intelligent Technology ( ZK ) has seen a surge in sales in Russia over the past year, despite lacking official representation in the country, with over 8,000 cars sold since June last year, Reuters reported, citing Irina Frank, head of the Frank-Auto dealership in Moscow.

From May 2023 to April 2024, Reuters reported that over 20,500 new EVs were sold in Russia, marking a 350% increase from the previous year, with Chinese brands accounting for more than half of all sales, citing data from the Russian analytical agency Autostat.

Vadim Merzlikin, marketing director for a dealership selling Zeekr models, told Reuters the carmaker's official entry into the Russian market would boost growth but cautioned that macroeconomic factors also play a key role.

"It all depends on purchasing power, competition, and the economic situation," Merzlikin was quoted as saying.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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