UPDATE: Min: Government to resume car demand programs on Fri

(Adds background in last paragraph)

MOSCOW, Feb 25 (PRIME) -- Russia’s Industry and Trade Ministry will resume car demand programs from Friday, Minister Denis Manturov told President Vladimir Putin on Monday, as cited in a protocol by the Kremlin.

“Vladimir Vladimirovich, we will continue the launch of a highly effective program: the social programs First Car and Family Car on March 1. We have agreed on the amount of budget subsidies for this year,” Manturov said.

“We hope that it will give an extra impetus to production and will support the car industry.”

The First Car and Family Car targeted aid programs active in 2018 stipulated a 10% discount on car purchase. Sales amounted to 85,940 over the first four months of the program, exceeding the plan of 80,600 cars. In July, the program was extended, and the discount was raised to 25% for citizens of the country’s Far East.

(65.5149 rubles – U.S. $1)

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