Russian Ministry of Industry Expects to Reduce Vehicle Production
OREANDA-NEWS. Car production in Russia by the results of 2014 fell by 10%, in 2015 the fall will be no more than this indicator, said Minister of Industry and Trade, Denis Manturov.
According to him, the Ministry of Industry and Trade will determine with new support measures for the car industry by March. But it is unlikely that it will be again a program of preferential car loan - with rates on loans over 20% even the compensation of 8% of the state will have no effect. "Direct discount works better than a tool of preferential car loan", - "Rossiyskaya Gazeta" cited the Minister.
Decline in sales of cars in Russia will affect both domestic and foreign manufacturers, but the last mentioned will feel stronger decline in real incomes and the weakening of the ruble.
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