The government will allocate 10 billion rubles on the preferential car loan programme

The government will allocate 10 billion rubles on the preferential car loan programme


TASS.- The government has taken the decision to allocate 10 billion rubles on the continuation of the programmes on preferential purchase and leasing of cars, which are assembled in Russia. The relevant report has been made by TASS, quoting the document signed by the Russian Prime Minister Dmitry Medvedev at a meeting with the Minister of Industry and Commerce Denis Manturov.

6 out of 10 billion rubles will be allocated on preferential loans on the purchase of cars within the scope of Family Car and First Car programmes and the remaining amount will be used on the support of preferential automobile leasing for small and medium-size businesses. 7 billion rubles are planned to be generated through the change in the budget law at the end of the year and the remaining 3 billion will be obtained from the reserve fund.

10.4 billion rubles have been allocated on the Family Car and First Car programmes in 2019, according to Denis Manturov. Sales of 63,000 vehicles have been stimulated through this amount. The funds are currently used up.

Manturov has highlighted the importance of resuming the programmes from 1 July 2019 onwards. According to him, the programmes will help 75,000 more Russian citizens become car owners on preferential conditions. Manturov has added that the programmes will revive the Russian automotive industry, maintaining jobs for over 2 million people.

As stated previously, the sales of new cars have fallen by 18% in Russia in May. As a result, Avtovaz has updated its prediction of the Russian automobile market in 2019, forecasting a shrinkage of sales from 3 to 20%.

The government will allocate 10 billion rubles on preferential car loan and preferential car leasing programmes.