Deputy PM: Russia’s car production increases by 19% in October

MOSCOW, Nov 16 (PRIME) – Russia’s car production increased by 19% on the month in October, Deputy Prime Minister and Industry and Trade Minister Denis Manturov told President Vladimir Putin on Wednesday.

“In May we produced 12,000 of all kinds of vehicles, from cars to buses, in October we reached 48,000. This is 19% more than in September,” he said.

The car industry is stabilizing, the workload of production lines is increasing at AvtoVAZ, GAZ, Kamaz, UAZ, Ural and on the Russian site of Chinese Haval, Manturov said.

Manturov also said that the government will provide the car industry with 32 billion rubles of preferential loans until the end of the year under an Industrial Development Fund program to produce Russian automobile components.

He also suggested expanding preferential car loans to servicemen, including the mobilized, their family members, as well as retirees. Putin seconded this proposal.

Cars must become much more affordable for Russians in the current situation, Putin said.

He also instructed Manturov to monitor the price of the cars so no one would abuse the current difficulties to raise them.

(60.3116 rubles – U.S. $1)

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