The Ministry of Industry and Trade announced the resumption of state programs for preferential car loans “First Car” and “Family Car”. Subsidies are designed to stimulate demand and allow customers to save up to 10 percent of the cost of a new domestic car.
Five billion rubles allocated by the state will not be enough for subsidies throughout the year – if the demand for cars is comparable to the figures for 2019, then the targeted funds will be spent until the end of May. For comparison, last year, a total of about 9.4 billion rubles were spent on state programs “First Car” and “Family Car” – state support allowed the Russians to purchase more than 100 thousand cars.
In 2020, the Ministry of Industry and Trade will retain the conditions for participation in state programs: Russian citizens who purchase the first car or large families with two or more children will be able to get a 10 percent discount on the first installment when buying a new domestic car with a total cost of up to one million rubles.
The subsidy will make it possible to compensate for the increase in the price of new cars due to increased waste collection – according to experts, the average cost of cars in the Russian market will increase by five percent. The price of budget models will increase less: for example, the new Lada will become more expensive by 2.3 percent.
Government support measures will stimulate demand in a falling market. According to the Association of European Businesses, according to the results of ten months of 2019, in our country the number of registrations of new cars has decreased by more than two percent. In November, the market “dipped” by 6.4 percent compared to the same period in 2018 – dealers managed to sell just 156.8 thousand new cars.
The most popular cars in Russiahttps://motor.ru/imgs/2020/01/04/19/3723848/cd7f2cf1339a66c0a7bf64ca07863aa1a7f28dc6.jpg