Russian government has allocated 4 billion rubles more on automotive

Russian government has allocated 4 billion rubles more on automotive

Kommersant – Russian minister of industry and commerce Denis Manturov has announced that an additional amount of 4 billion rubles will be allocated for the support of the country’s automotive sector, until the end of the year. 2.5 billion rubles of the amount will finance the vehicle park utilisation programme and the remaining 1.5 billion rubles the induced leasing programme. The minister has told that no additional fund is needed for the induced automobile credit programme.

As reported by Kommersant newspaper, the government has allocated 2.5 billion rubles on car leasing, since the turn of the year. The ministry of industry and commerce had demanded another 1 billion rubles from the government this summer. The ministry responded by sending a letter to leasing companies, advising against the admission of new applications. Application approvals are expected to resume, with the extension of the programme’s duration of validity. According to ministry data, 18,900 vehicles have been sold within the scope of the programme, during the first eight months of the year.

15 billion rubles have been spent on the vehicle park utilisation programme since the new year. Again according to ministry data, 228,700 vehicles have been sold in the country within the frame of the programme.