The Ministry of Industry and Trade has no plans to launch the preferential car loans and leasing programs yet

There are currently no plans to resume the state programs for preferential car loans and leasing, since this makes no sense in the context of a disrupted supply chain. This was announced by the Minister of Industry and Trade of the Russian Federation, Denis Manturov, by adding that at present the Ministry of Industry and Trade, together with the automotive industry, is developing comprehensive measures to support the domestic auto industry against the backdrop of sanctions.

"We are now forming a common position with the industry in order to submit the next support packages to the government for subsequent consideration," said the head of the Ministry of Industry and Trade, quoted by the TASS agency. He recalled that a part of the auto industry has already received support from the government. For example, the payment of the recycling fee was deferred, and the possibility of a preferential loan was provided. "If you look globally, the automotive industry in Russia cannot cease to exist, because more than 300 thousand employees are involved in production alone.

It is simply impossible to leave so many people without work. I am convinced that state support measures will be aimed at creating preferences for car manufacturers that will build processes at Russian plants," comments Alexei Makarov, Director for Development and Corporate Governance at Nizhegorodets.