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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

Russian dealers of Ford began sales of updated Mondeo

Ford Mondeo sedan has received a technological upgrade aimed at the safety improving of the car and improving of the intelligent driver assistance systems. People can order updated Ford Mondeo at all official Ford dealers in Russia.

05 julymore info

Infographics

Dynamics of car sales by segments in April of 2019

News

The Russian government will subsidize purchase of mass cars made in Russia

The prime minister Vladimir Putin and heads of the largest domestic auto companies took part in the meeting held on Friday in Naberezhnye Chelny where the head of the cabinet said that the government of the Russian Federation will subsidize auto credit rates. The subsidy will be given under credits for the cars, which cost does not exceed 350,000 rubles and they should be produced in Russia. The size of the subsidy will make 2/3 rates of the Central Banks refinancing and it will be given since 2009.
The director of the analytical agency "AUTOSTAT" Sergey Tselikov in his interview to the agency "Comments.Ru" sais that it was the right initiative. In his opinion at present the most important thing for stabilization of the Russian car market is to support the demand from the final buyer. If there is no demand, no measures of support will help the auto industry. In order the demand remains high, it is necessary that incomes of buyers could grow and there could be the possibility to receive the credit under the reasonable rate. At present 2/3 rates of the Central Banks refinancing (13 %) is 8.7 %. Basically the rate decrease under the auto credit for the final buyer at the amount of 8.7 % is rather good stimulus for purchase.
The question is whether the government, the Central Bank, banks and dealers will manage to start this program quickly, says S. Tselikov. If they manage then business will go. If the mechanism does not work in the first quarter 2009 and the rates continue to go upwards (now they are already within 20-30 % per year) then next year the market will decline so much that the Russian auto industry will be in coma for a long time.
The expert notes that all VAZ production, UAZ Hunter, "base" versions of such models of the Russian assembly as Renault Logan, Fiat Albea, Skoda Fabia, KIA Spectra and Hyundai Accent cost up to 350,000 rubles. If to keep only the base it is possible to push in this range Ford Focus, Chevrolet Niva and Chevrolet Lacetti as well. But it will be possible only in the case if a dollar exchange rate does not grow further very quickly. Otherwise soon only VAZ production will be within 350,000 rubles.

22.12.08
Source: АВТОСТАТ