Ministry of Industry and Trade plans to reduce funding for the automotive industry – Rossiyskaya Gazeta

In 2021, the Ministry of Industry and Trade of the Russian Federation plans to reduce the volume of financing for the automotive industry by 37 percent – to 38 billion rubles. At the same time, the expected growth in car production by the end of the year should reach 5 percent – up to 1.49 million units.

This is reported in the annual report of the department, writes TASS. Last year, the volume of state funding for the industry reached 61 billion rubles, in 2019 – 56 billion.

Over the past three years, domestic car manufacturers have received over 158 billion rubles from the state. We are talking about various support instruments: programs of preferential car loans and leasing, stimulating demand for NGV transport, purchasing school buses and ambulances, and others.

The volume of the car market this year, the Ministry of Industry and Trade expects to be 5 percent lower than it was before the pandemic – in 2019. That’s 1.76 million pieces. For comparison, in 2019 this figure reached 1.85 million, in 2020 – 1.68 million. Domestic car production this year is expected to grow to 1.49 million units – by 5 percent. In 2019, 1.71 million cars were produced in Russia, in 2020 the decline in production was 17 percent, to 1.42 million units.

The head of the Ministry of Industry and Trade Denis Manturov stressed that compared to other states, the level of car production in Russia remained at a high level: in some countries it dropped to half the pre-pandemic figure. In the first four months of 2021, the passenger car segment has already seen a 40 percent increase in production.


The article from the source


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