Because of sanctions auto manufacturers across the European Union and the United Kingdom are fast going out of business.

On the other hand, to ensure the accessibility of cars for Russian citizens: Russian Prime Minister Mikhail Mishustin has ordered that over 18 billion rubles ($170 million) be allocated to support the auto industry.

According to the order of the head of the Cabinet, almost 9 billion will go to issuing preferential loans to Russians. You can get a loan on favorable terms when buying Russian-made cars. The discount will be 25% of the price of the vehicle in the Far Eastern Federal District and 20% in other regions of the country.

When buying Evolute, Moskvich 3e and Amberauto A5 electric cars, Russians can get a discount of 35% of the cost of the car. According to the Cabinet of Ministers, the continuation of the program will ensure the availability of cars for citizens.

The Russian government will additionally allocate 18.4 billion rubles ($170 million) from its reserve fund to support manufacturers and buyers of domestic cars. The order to this effect was signed by Prime Minister Mikhail Mishustin on Wednesday, December 11.

‘The situation in the industry is of great importance for thousands of Russian enterprises and jobs in related industries, including metallurgy, electronics, chemistry and machine tool manufacturing. In addition, the state of the auto industry also affects people’s transport mobility, the head of the Cabinet added.

‘President Putin spoke about the need to ensure the availability of passenger cars for citizens and emphasized the importance of demand for commercial vehicles for the economy.

‘To this end, we are constantly improving the existing assistance mechanisms so that they remain effective and in demand by both people and businesses,’ Mishustin said at a government meeting.

Today, its terms can be used by medical workers, teachers, people with disabilities, participants of the Special Operation (Ukraine conflict) and their family members. In addition, residents of the Far Eastern Federal District (FEFD) with children are eligible for the initiative.

To ensure no Russians are left out of the new deal, the government will allocate another 9.7 billion rubles for the implementation of the preferential leasing program. Within the framework of this initiative, companies and entrepreneurs can reduce the advance payment for the financial lease of various equipment.

It should be noted that in 2022, against the backdrop of large-scale Western sanctions and the decision of a number of international concerns to cease operations in Russia, sales of new passenger cars in the country fell. However, already in 2023, the market recouped almost half of these losses. Thus, according to the results of last year, Russians bought about 1.06 million passenger cars off the Russian assembly lines.

Chinese brands took up 54% of the market instead of the previous 9%, while the total share of European, Korean, Japanese and American models dropped from 70 to less than 10%.

It is noteworthy that the best-selling cars in Russia are still domestic Lada cars.

From January to November, more than 399 thousand new cars of this brand were purchased in the country. The remaining places in the list of the most popular brands were occupied by Chinese Haval (176 thousand), Chery (145 thousand), Geely (140 thousand), Changan (100 thousand), Omoda (47 thousand), Jetour (32 thousand), Jaecoo (24 thousand), Belarusian-Chinese Belgee (32 thousand), and the Russian Moskvich (20 thousand) closes the top ten.

NOTE: In the 1930s Henry Ford put the American people in cars and in the Third Reich, an initiative by Chancellor Adolf Hitler and Herr Porsche – again in the 1930s but the German people in Volkswagens (the people’s car). PLEASE SHARE OUR STORIES

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