Government support on automotive industry will lead to a 10% increase in car production at the end of the year

Government support on automotive industry will lead to a 10% increase in car production at the end of the year


 

TASS.- The support measures taken by the Russian government in July will stimulate an increase in car production by 10% at the end of 2019. The relevant statement has been made by the Minister of Industry and Commerce Denis Manturov, during an interview with Russia-24 TV channel, on the sidelines of the Eastern Economic Forum.

“The government support measures taken in July, on the continuation of the subsidies on car loans and preferential leasing will possibly lead to a minimum 10% increase in total car production in the country” – as told by the minister.

Manturov has noted that the timely support of government will ensure the preservation of last year’s production results at least, with a possibility of a slight increase.

As told by Manturov to journalists previously, the Russian government plans to extend the support programmes for the automotive industry until the end of 2020, the funds for which have already been allocated.

The Russian government has resumed the demand support programmes for the automotive industry on 1 July, allocating an additional amount of 10 billion rubles. Manturov has stated that the funds will be sufficient until the end of 2019.

The aforementioned programmes have been renewed for the first time on 1 March, with the allocation of 10.4 billion rubles by the government. However, the funds were consumed by May.