AvtoVAZ seeks metals duty extension to prevent rise in car prices

MOSCOW, Nov 26 (PRIME) -- Russian car manufacturer AvtoVAZ has asked the government to extend metals export duties to 2022 to avoid growth of the car prices, AvtoVAZ vice president for external and investor relations Sergei Gromak told parliament on Friday.

“We already see the trend: the steel prices have risen between 4 and 11% in October–November in anticipation of the end of the duties. ... Frankly speaking, we have to predict that as soon as the steel export duty ends, there will be a significant explosive increase in the prices for this type of raw material again. And, as a consequence, an increase in the prices for all products that use metal, including cars,” Gromak told the senators of the Federation Council, the upper house of parliament.

“I would … like … to ask the Russian government to extend the export duties on metal products until 2022. My colleagues from the automotive industry and I have already asked the Industry and Trade Ministry to extend the export duties, and I hope the ministry will support us here.”

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