Russian min asks for 20 bln rbl for car demand stimulation

MOSCOW, Jun 20 (PRIME) -- The Russian Industry and Trade Ministry asked the government to allocate 20 billion rubles for target programs stimulating car and light commercial vehicle (LCV) demand, an official told PRIME on Thursday.

“The issue of additional allocation of 10 billion rubles on the targeted demand stimulation programs (First Car, Family Car, Cut-rate Car Leasing, Russian Tow Car and Own Business) is being considered by the government. At the same time, the Industry and Trade Ministry supports an initiative by Sollers on additional allocation of 10 billion rubles on fulfillment of the target programs of stimulation with the Russian government’s reserve fund,” the ministry said.

The ministry offers low-rate commercial car leasing for recycling of outdated vehicles. The initiative took into account the position of the Natural Resources and Environment Ministry.

(63.9794 rubles – U.S. $1)

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