Russian government will allocate 3.3 billion rubles in order to support car exports

Russian government will allocate 3.3 billion rubles in order to support car exports

Vedomosti – The government has approved the conditions of the subsidy programme, aimed at the support of automobile and component exports. 3.3 billion rubles will be allocated for the purpose. The government will compensate up to 80% of transport costs to the border regions by land and 50% by sea and up to 100% of certification and homologation expenditures.

As published by Autostat previously, 611,000 passenger cars have been manufactured in Russia between January and July 2016 (-18%), according to Rosstat data. 37,780 automobiles have been exported, indicating a 35.5% year-on-year decline, according to FTS data. The shrinkage is mainly related to the falling demand in Kazakhstan, the largest market for the Russian automotive industry. An approximate number of 60,000 automobiles are planned to be exported in total, within the frame of the programme.