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Russia Extends Car Scrappage Plan Again
The Russian government say it will spend another 10 billion rubles (€153 million) next year to encourage consumers to scrap old vehicles and buy new ones.
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The Russian government say it will spend another 10 billion rubles (€153 million) next year to encourage consumers to scrap old vehicles and buy new ones. The extension had been expected.
Industry and Trade Minister Denis Manturov says the government also is adding 2.9 billion rubles (€44 million) to this year's program.
The incentives, which were offered in 2010-2011 and resumed last year, offer discounts of 40,000 rubles (€610) or more for passenger vehicles and at least 350,000 rubles (€5,300) for commercial vehicles.
Russia has estimated the program has generated some 770,000 sales in the past four years. Demand for new passenger vehicles in the country is running 10% below last year's volume.
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