Ministry expects sales, output of cars in Russia to rise in Oct

MOSCOW, Oct 29 (PRIME) -- The Industry and Trade Ministry of Russia expects production and sales of all types of new cars to rise by several percentage points in October as compared with the same month of 2019, Denis Pak, head of the ministry’s car industry department, said on Thursday at a meeting with Minister Denis Manturov.

“In September, the market demonstrated robust growth of 4.5%, while production grew by 5.5%. This is September to September. We will also have growth in October, it will amount to several percentage points as compared with October,” he said.

In January–September, production of cars in Russia fell by about 25% mainly due to suspension of car plants during the coronavirus quarantine, but now the companies are raising their car outputs, he said.

Pak also said that the ministry planned to issue at least 12.8 billion rubles on support of the car industry in 2021.

“In 2021, we will continue implementation of systemic state support measures for the car industry. In particular, we plan to allocate about 9 billion rubles to the program of preferential car loans, which would allow us to sell about 90,000 cars, and 3.8 billion rubles on the program of preferential leasing of cars, this is the money that we will start with, and it will translate into around 7,600 cars,” he said.

(77.5520 rubles – U.S. $1)

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