An additional subsidy of 25 billion to support the Russian automobile industry "winter"
Dow Jones reported that the Russian government recently announced that it will again carmaker 25 billion rubles to provide subsidies of 10 billion rubles last week to double aid.
This week, the Russian government once again Ross House added 25 billion rubles ($ 4.24 billion). The money will be used to support automotive, leasing financing, and to promote the agency of state-owned commercial contracting. Previously, the Russian government announced on March 20, will offer the automotive industry 10 billion rubles ($ 1.66 billion) in subsidies, economic recession at home moped background of Russian companies ride out the storm.
Since last year, oil prices plunged devastated the Russian economy, and the conflict between Russia and Ukraine has led to adopt Western political and economic sanctions, the already fragile economy has been the impact of volatility in the exchange rate of the ruble increasingly serious. 2015 1-2 month, the Russian car sales of light vehicles 243,826 vehicles, a total of nearly a month, and in previous years, a considerable volume, compared to 359,188 units last year, up 32.1 percent .
Association of Automobile Dealers Russia (Russian Association of Automobile Dealers) President Vladimir Mozhenkov said recently, due to the devaluation of the ruble, car prices abroad in Russia have reduced the price to maintain sales, and therefore loss; foreign brands every car sold in Russia, was a loss of $ 2,000.
Therefore, car prices have taken steps to reduce losses in Russia. Last week, General Motors Opel agreements in Russia delisting and the main models of Chevrolet for sale locally.
PwC and other institutions in Russia in 2015 will car sales fell by 25-35%. Russia hopes that subsidies will be reduced by 24 percent control.
