State support results for car demand of the first 10 months of 2020

As at 25 October 2020, more than 220 thousand cars were sold in Russia with state support for demand:

• 172350 cars by the program «Soft auto lending» (state support - 16,4 billion rubles);

• 46428 cars by the program «Soft leasing» (state support – 11,3 billion rubles);

• 1790 cars by the program of gas engine vehicle subsidy (state support - 394 million rubles).

More than 2,600 cars were sold under the new directions of preferential car loans for state medical institutions employees. More than 19,000 cars were sold under the program of discounts when selling an old car to trade-in.

Among all car brands, the most popular were «LADA» (more than 64,5 thousand), Hyundai (33,8 тысяч) and KIA (25,6 thousand).

25 Russian credit organizations and 58 leasing organizations participate in the programs. 

These data demonstrate that government support measures have a significant positive effect on the demand for cars. Now, Russia is the fourth largest automotive market in Europe, after Germany, UK and France. It should be noted, that the best-selling car models in Russia are produced in our country. The deputy Minister of industry and trade of the Russian Federation- Alexander Morozov noted, that the Ministry of industry and trade of Russia plans to support Russian automakers next year.

The original article is on the website  Minpromtorg RF