Preferential programs "First car" and "Family car" will resume from March 1
Source：Kommersant Newspaper
From：Taiwan Trade Center, Moscow
Update Time：2019/04/19
The Ministry of industry and trade from March 1 resumes programs to support the demand for cars running through preferential car loans — "the First car" and "Family car", Minister Denis Manturov said at a meeting with President Vladimir Putin.
"Since March 1 this year we continue to launch a well-established program: social programs "First car", "Family car". Since this year, we have agreed on the amount of budget allocations in the government. Therefore, we expect that this will give an additional increase in production and support the automotive industry," the Kremlin press service quotes Mr. Manturov. The amount allocated this year to support the domestic automotive industry has not yet been named.
The First car and Family car programs were launched in July 2016. Families with two or more children, as well as citizens buying a car for the first time, could expect a 10% discount on the cost of the car. In 2018, 35 billion rubles were allocated for programs to support the domestic automotive industry, of which 16 billion — to support targeted programs. By may 14, the program for 2018 was completed. According to the Ministry of industry and trade, for four months of its operation on favorable terms, almost 86 thousand cars were sold at the target of 80.6 thousand cars.
At the same time, by the end of July, the Ministry of industry and trade did not compensate the banks participating in the programs of preferential car loans, falling incomes. And then the government issued a resolution on the extension of preferential lending programs "First car" and "Family car" for 2018-2020.
Source: https://www.kommersant.ru/doc/3894694