137.7 billion rubles will be allocated on the support of automobile industry in 2016

137.7 billion rubles will be allocated on the support of automobile industry in 2016

TASS – Government support to industry sectors in difficulty continues, which includes the direct support to automotive industry in the amount of 137.7 billion rubles in 2016. The relevant statement has been made by the president of Russian Federation Vladimir Putin at the Congress of the Union of Car Manufacturers.

“Our support to industries at risk will continue under any circumstances. 137.7 billion rubles will be allocated on the support of automotive industry within the frame of the 2016 Anti-Crisis Plan, including the approximate additional amount of 49 billion.” – told the president, as quoted by TASS. Putin has added that the Russian authorities are aware of the complexity of the current situation, which is related to decreasing investment in car manufacturing industry, falling demand for products etc.

According to Rosstat data, 249,000 automobiles have rolled off Russian assembly lines during the first three months of 2016, which indicates a 26.3% year-on-year decline. Truck production has risen, on the other hand, during the aforementioned period by 15.2%, to 25,800 vehicles. Bus production has shrunk by 9% by the end of the first quarter, to 6000 units.