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Over 220 thousand cars were sold with the help of state support for 10 months

Nov 11, 2020

As of the end of October 2020, a total of more than 220 thousand cars were sold in Russia under state programs to stimulate demand for cars. In particular, 172,350 cars were sold under the concessional car lending program, for which 16.4 billion rubles were allocated in 2020, the press service of the Ministry of Industry and Trade of the Russian Federation reported.

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More than 2,600 cars and more than 19 thousand cars, respectively, were sold in the new areas of preferential car loans for 2020 - for employees of public medical institutions and a discount program when handing over an old car to trade-in. In addition, 46,428 vehicles were sold under the “Preferential Leasing” program (the amount of state support is 11.3 billion rubles) and 1,790 vehicles were sold under the program of subsidizing NGV vehicles (the amount of state support was 394 million rubles).

According to the Ministry of Industry and Trade of the Russian Federation, the implementation of all support measures that are in effect in 2020 will support the production and sale of more than 250 thousand vehicles. 25 Russian credit institutions and 58 leasing organizations participate in the programs. According to the results of ten months of 2020, LADA cars (more than 64.5 thousand units), Hyundai (33.8 thousand units) and KIA (25.6 thousand units) were in the greatest demand among the participants of state programs for supporting the car market.

Source: https://eng.autostat.ru/news/19251

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