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Russian Government to Limit Import Car Purchases
Russia is preparing to restrict state institutions and local governments from buying imported cars, Interfax reports.
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Russia is preparing to restrict state institutions and local governments from buying imported cars, Interfax reports.
The Russian news agency quotes Industry Minister Denis Manturov as saying the restriction will take effect "in the nearest future." The measure, which is intended to support the country's domestic auto industry, comes as a sharp weakening of the ruble is driving prices on imported vehicles.
Car sales in Russia slumped 5% last year and were down 4% in the first two months of 2014, according to the Moscow-based Assn. of European Businesses. Sales of Lada cars by OAO AvtoVAZ, Russia's largest carmaker, fell 15% last year and 19% in the past two months.
Earlier this year the industry ministry predicted passenger vehicle sales this year could drop as much as 7% to 2.6 million units.
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