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The report in focus

Automotive Industry In Russia. Results of 2019. Prospects

Automotive Industry In Russia. Results of 2019. Prospects

Exit date 02.06.2020

Format PDF, 55 стр.

Price 960 eur.

report contains information on automotive vehicle production in Russia, particularly passenger cars and commercial vehicles

02 june more info

Analytics

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News

Ministry of industry and trade will reduce the support for the car market in 2018

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The Ministry of Industry and Trade plans to continue targeting demand programs in the automotive market from January 2018, said Minister of Industry and Trade, Denis Manturov. In the passenger segment, it is the "First car" and "Family car" (subsidizing discounts for car loans), in commercial - "Russian tractor", "Russian farmer", "Your business" (subsidizing part of the cost of leasing). For these programs in total in 2018 it can be sent 16 billion rubles, wrote the newspaper Vedomosti.

In the next year, programs to support the demand for electric transport (1.5 billion rubles), gasoline engines (2.5 billion rubles), will be also continued, and the last one will be expanded: those that use compressed gas will be added to those that use liquefied natural gas. The program will deal with both commercial vehicles (trucks, buses) and cars.

According to Denis Manturov, only 24 billion rubles are pledged in the federal budget for stimulating demand in 2018 and another 9.5 billion rubles, possibly, will be allocated from the reserve fund of the government. In particular, 9 billion rubles will go to budget obligations under the program of preferential car loans under contracts concluded in previous years. The Russian market, declining in 2013-2016, has been growing since the spring of 2017.

According to the Association of European Businesses, sales of cars and light commercial vehicles in Russia grew by 11.7% up to 1.4 million cars in January-November. By the end of 2017, the Russian automotive market (all types of cars) could grow by 11-12%, and car production - by 18%, the Ministry of Industry and Trade predicted. Next year, when differentiating excises and interest rates on loans, the automotive market is expected to grow less.

18.12.17 AA "AUTOSTAT"
Source: www.autostat