Today, 19 January, Prime Minister of the Russian Federation Dmitry Medvedev holds meeting on the country's economic development, which, inter alia, will discuss measures to support the domestic auto industry. According to the business newspaper Kommersant, one of the events can become return program of preferential car loans, well-established in the period of crisis 2008-2009 biennium; will be offered and more ambitious measures.
On resuming concessional loans (recall that the essence of this action is that the state assumes a large part of the interest rate when buying a loan car from approved list) insists the Ministry of economic development. According to economists, the allocation of state budget of 2 billion rubles for these purposes can lead to additional sales of about 40,000 cars. Considering the fact that after raising key rates of Central Bank interest on loans increased to 30-40%, this measure of support must be very popular.
Another initiative of the Ministry of economy is softening of the terms of contracts with foreign manufacturers concerning the conditions of industrial Assembly in Russia. In agreements from 2011 the number of global automakers (Renault-Nissan, Volkswagen, Daimler, Ford, GM) was committed for investment in advanced development, the opening of new enterprises, expansion of production; now part of such agreements is expected to freeze, but contrary to the WTO rules to enter into new agreements on industrial Assembly with Japanese and Chinese manufacturers.
However, Kommersant sources assert that the Government would not agree to radical steps and can endorse is that extension of the recycling program. We will monitor developments.