Government Names Growth Factor for Car Sales in Russia

Manturov: Key Rate Needs to Drop Below 15% to Boost Sales

The recovery of the automotive market in Russia depends on the key rate, according to First Deputy Prime Minister of the Russian Federation Denis Manturov.

According to him, it is quite difficult to support the market with budgetary funds. A key rate below 15% will stimulate car sales more rhythmically.

Nevertheless, the authorities will continue to monitor the situation in the market, support consumers where possible, and assist manufacturers.
Denis Manturov, Deputy Prime Minister of the Russian Federation

For example, the decision to postpone the payment of the recycling fee will allow Russian automakers not to resort to rather expensive lending and keep hundreds of billions of rubles in circulation, Manturov added.

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Sources
TASS

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