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


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


Which countries export cars assembled in Russia?


The program of preferential car loan will be completed by the end of the year

Ministry of Industry and Trade will complete the program of preferential car loan on January 1st, 2014, even though it was intended to work until the end of the next year. The source in the government informed about it the newspaper “Izvestia” and the market participant confirmed it. The reason is the optimization of budgetary expenditure. Thus, Russians have only 40 days for the purchase of a car worth up to RUB 750,000 at a preferential loan program.

According to a source in the government, the Ministry of Industry and Trade didn’t find arguments to extend the program in terms of optimization of the budget: on the one hand, preferential car loans spurred car production by about 10 %, and the other - sales fell anyway in compare with the previous year. The Ministry of Industry and Trade did not comment a timeline for completion of the program of preferential car loans.

Banks have issued more than 164 thousand preferential car loans as of November 10th, and it is planned to increase this figure to 215,000 by the end of the year. The issuance of all car loans reached RUB 115 billion in terms of money for four months, RUB 80 billion of which fall on preferential loans. As previously representatives of Ministry of Industry and Trade stated, overall car sales will rise by 120,000 units this year, or 5 % due to preferential loans. According to bankers, the number of auto loans increased with the start of the program.

Initially the Ministry of Industry and Trade planned to issue preferential car loans before the end of 2014. As previously noted the head of the department, Denis Manturov, it was planned to allocate RUB 13 billion for compensation of the lost revenues by these loans to banks. However, the Ministry of Finance has provided for the program only RUB 5.5 billion.

Despite the fact that the draft of Federal Law “On the Federal Budget for 2014 and the planning period of 2015 and 2016” is under consideration now in the State Duma and it will be adopted at the end of November, the ministry said that the sum will not be revised. The first funds in the amount of RUB 410 million that are planned for 2013 will be received by banks in December. Among the remaining RUB 5 billion it will be allocated RUB 2 billion in the first two years and RUB 1 billion in 2016.

The head of the analytical department of AUTOSTAT, Andrew Toptun, believes that the notice about the early termination of the program of preferential car loan will spur the current demand for cars due to the people who were going to use it the next year. “It was issued 150 thousand credits for four months of the program. Accordingly, the loan was received by about 40 thousand customers monthly. It should be expected that the announcement about the finishing of program could lead to banks about 5-7 thousand people in December, which will increase sales by 2%”, - said Mr.Toptun.

22.11.13 AA "AUTOSTAT"
Source: www.autostat.ru