The media leaked information about the shutdown of production facilities of the Chinese brand and the likely bankruptcy of the company.
The Rossiyskaya Gazeta publication, citing its sources close to the automobile concern, reported that over the past month the company has managed to sell only 6 new cars. This is a new anti-record manufacturer. In addition, there is information about the closure of one brand factory and the sale of the second.
There are rumors about the bankruptcy of Lifan. According to sources, the reason for this was the low quality of brand cars, rising costs and falling sales. In Russia, the brand is doing a little better. Over 10 months, about 3,7 thousand new cars were sold in dealer networks, which is 70% less than in the same period of 2018. The X70 model, whose production in Russia was curtailed last year, was never returned to the market.