Russia Responds to 6.4 Percent Decrease in Year-to-Date Sales with Government-backed Stimulus Program to Jumpstart the Market
How Can OEMs and Local Assemblers Position Themselves for Sustainable Growth?
DETROIT, November 7, 2013 – After doubling in size from 2009 to 2012 to more than 2.9 million units in new vehicle sales, the Russian automotive market has experienced a 6.4 percent decline year-to-date, prompting Russia's Ministry of Industry and Trade to initiate government-backed subsidies. Under the program, which began in July, the Central Bank of the Russian Federation will subsidize two-thirds of automotive loan financing rates to banks. Qualification stipulations include a maximum price of 750,000 Rubles (approximately $23,000 USD), a 15 percent down payment, and a maximum loan term of 36 months. Ministry officials estimate the program will provide for an additional 250,000 units in vehicle sales.
Press Release and Documents
Katura HudsonPwC USUnited Stateskatura.firstname.lastname@example.org+1 (973) 236-5807
k m-United Stateswondr1@123.com-
More from News releases
Subscribe to rss feedXML
Quality of business reporting on the Sustainable Development Goals improves, but has a long way to go to meet and drive targets.
Governments should do more to unlock the potential of technology to facilitate tax compliance, says PwC and World Bank report
Despite increasing trade tensions business confidence in Asia Pacific remains high