According to our new research report, “Booming Russian Automobile Sector”, in the time of ongoing economy slowdown, various initiatives by the Russian government will drive the Russian automobile market. However car sales (new as well as old) in Russia plummeted 55 percent in the first half of 2009 over the same period last year amidst economic slowdown.
As per our research report, various efforts done by the Russian government will drive the automobile market in Russian in the time of recession. To reduce the impact of economy slowdown government has introduced the subsidized loan scheme. As per scheme government is providing subsidies on interest payments amounting to two-thirds of the Central Bank of Russia’s (CBR) refinancing rate, which currently amounts to 11%, on car loans. It has also decided to subsidize interest payments on cars worth up to 600,000 rubles instead of 350,000 rubles earlier and lowered the minimum size of the down payment on a car to 15% from 30%.
Further as per research report government is also planning to introduce scraping premium program. Government scrapping plans in Europe’s major markets have led to a sales surge in Germany as well as rebounds in Spain and the U.K.
“Booming Russian Automobile Sector” is an extensive research and in-depth analysis of automobile industry in Russia. The report gives an overview of the global automobile industry and gives detailed analysis of the Russian automobile market and its various segments including passenger vehicle, commercial vehicle, tractive Units, buses and auto component market. Each section explains the current and future market trends, and developments in the Russian automobile market. The report will largely help investors and global automobile players to find the way to enter in automobile industry of the Russia.
The report supplements the past and current information on the Russian automobile industry with forecast on various important industry aspects, including the passenger car sales, commercial vehicle sales, LCV sales, MCV sales, HCV sales, automobile component market, used passenger car market, tyre production, lending interest rate, number of high earning households, personal disposable income and nominal GDP.
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RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.
