An additional amount of 3 billion rubles has been allocated on preferential car loan and leasing programmes

An additional amount of 3 billion rubles has been allocated on preferential car loan and leasing programmes


 

Finmarket.-Russian Prime Minister Dmitry Medvedev has approved the allocation of an additional subsidy of 3 billion rubles on preferential leasing and purchase of automobiles, as stated in the document of the official decree.

According to the document, the government will allocate 1 billion rubles from the reserve fund to the Ministry of Industry and Commerce for the subsidy of the leasing agreements, which will be signed within the 2018-2020 period. A minimum number of 2300 automobiles is planned to be sold this year.

2 billion rubles will also be allocated for the subsidy of car loans issued within the aforementioned period. 22,200 cars are planned to be sold within the scope of this amount, until the end of 2019.

The plans to allocate an additional amount of 3 billion rubles on the support of preferential leasing and loans for the automotive industry were revealed by Medvedev previously at a government meeting. “Such programmes for the purchase of cars, light trucks and tractors are increasingly in demand” – said Medvedev during the meeting.

Medvedev has announced that the government would allocate an additional amount of 10 billion rubles to resume the state programmes to support the demand in the automotive industry as of July the 1st, during a meeting with the Minister of Industry and Commerce Denis Manturov at the end of June. The PM has noted that the programmes work very successfully and are aimed at the stimulation of the sales of Russian automobiles.

6 billion rubles will be allocated on the finance of First Car and Family Car programmes and the remaining 4 billion rubles on the leasing of cars and trucks, according to plans.

Meanwhile, 3 billion rubles will be sourced from the reserve fund of the government and 7 billion rubles according to the results of the Autumn 2019 budget adjustments.

Manturov has spoken about the discussions carried out by the Russian government as to the extension of the state support programme for demand in the automotive industry in June, the funding of which could reach 10 billion rubles. “We are still discussing about a possible extension to the state support programme for demand at the government today, which was implemented for a few months at the beginning of the year” – Manturov said, stating that the programme will help the stabilisation of production volumes. “We are focusing on a volume of approximately 10 billion rubles, 6 billion on car loans and 4 billion on leasing” – said the minister at the time.