On October 1, 2024, Russian Federation will launch a new scale of indexation of recycling fee for vehicles. The government expects to suspend the growth of car prices predicted in this connection by the state support of domestic car assembly plants. Thus, Ministry of Industry and Trade has...
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Ministry of Industry and Trade announced additional RUB 14.5 billion allocation for car purchase incentive programmes
On October 1, 2024, Russian Federation will launch a new scale of indexation of recycling fee for vehicles. The government expects to suspend the growth of car prices predicted in this connection by the state support of domestic car assembly plants. Thus, Ministry of Industry and Trade has already announced the resumption of programmes to stimulate demand, namely preferential car loans and preferential car leasing.
Here it is worth note that in June, banks stopped issuing preferential car loans, as they exhausted the entire budget allocated for this programme. However, according to the press service of the Ministry, it has been decided to resume the programme of preferential car loans, and by the end of 2024, other 6.5 billion rubles will be allocated for its financing, while 8 billion rubles will be allocated for the programme of preferential leasing. In total, these measures are designed to further stimulate the sale of over 36 thousand cars. It should be reminded that under the terms of preferential car loan programme, basic discount is 20% (25% for residents of Far Eastern Federal District) of cost of car with an internal combustion engine.
The programme is valid for certain categories of citizens - medical workers, education employees, participants of the SMO and their family members, citizens with disabilities, as well as families with children purchasing a car in the FEFD regions. Vehicles with internal combustion engine costing up to 2 million rubles (having at least 1600 points on the level of production localization) fall under the terms of the programme. Specialists have already calculated that all LADA, VIS, UAZ, GAZ (GVW up to 3.5 tonnes) and Haval Jolion models (assembled at Tula Region plant) meet the requirements. You can also take advantage of benefits when buying electric cars assembled in Russia (Evolute, Moskvich 3e, Amberavto A5). In this case, the discount will amount to 35%. However, with a caveat - this discount cannot exceed 925 thousand rubles.
Vehicles with a production localisation level of at least 1600 points - both passenger cars, light commercial vehicles and trucks - also participate in the preferential leasing programme. This category also includes domestically produced electric vehicles. The category of vehicles that can be covered by preferential leasing has been expanded to include tourist buses. The press service of Ministry of Industry and Trade noted that thanks to the action of state programmes to stimulate demand in 2024, more than 82 thousand cars have already been sold.