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Prime.- The amount of government support allocated to the automotive industry will exceed 45 billion rubles in the Russian Federation in 2020. The Ministry of Industry and Commerce will continue with the support measures for the sector, through demand stimulation programmes for automobiles, as told by the head of the Automobile and Railway Department at the ministry Denis Pak, during a conference.
“More than 45 billion rubles have been allocated to the automotive industry alone this year. As a result of the worldwide economic crisis due to the pandemic and the decline in oil prices, the demand for automobiles has significantly fallen in each country. Russia has naturally been sucked into this maelstrom of market shrinkage. Taking into account the positive outcome of the demand stimulation programmes we have implemented, we have decided to continue with the same practice this year and increased the budget in many prospects” – Pak stated.
According to Pak’s presentation, 17 billion rubles have been allocated on the preferential car loans programme this year with the expectation of realising 119,000 car sales and 8 billion rubles on preferential leasing, affecting 26,000 vehicles. 2.5 billion rubles have been allocated on the new Affordable Rental programme, which is expected to affect 14,000 transactions. The subsidy for the gas fuel vehicle manufacturers has amounted to 3.3 billion rubles, which would lead to sales of 8330 units, according to plans.
In addition, 4.5 billion rubles have been allocated on the advance purchases of 33,000 vehicles by government departments and state enterprises, along with 10.2 billion rubles for the regional purchases of 2500 ambulances, as stated in the presentation.
