Russian government continues subsidising automotive

Russian government continues subsidising automotive

Zr.ru – Russian prime minister Dmitri Medvedev has signed a new bylaw, proposing the promotion of the automotive sector in the country, during crisis conditions. Accordingly, the government has allocated a fund of 4.8 billion rubles, in order to cover the interest rate payments on credits used by car factories, for the purpose of financing production costs. In addition, 1 billion rubles have been put aside for the induced leasing programme.

According to figures published by the Russian Federal Statistics Service: Rosstat, the automotive sector of the country shrank by 11.1% in September. The decline in truck and bus production has been announced as 4.2% and 22.5%, respectively.