ANNOUNCEMENT 08 Mar 2010In March 2010, the government of Russia announced a change in the required local inputs to serve domestic customers.
NUMBER OF INTERVENTIONS
As a part of the Russian car industry support policy, the Russian government announced a scar scrappage scheme.
Under the scheme, owners of light cars older than 10 years (the person has to own a car for more than 1 year) can receive a subsidy of 50,000 rubles if they purchased a new car produced in Russia. There are no special requirements about the old car that can be scrapped under the new scheme. The measure is effective as from 8 March 2010. The Government has assigned 11 billion Russian rubles (337 million Euros) from the state budget.
The Government expects 200,000 cars produced in Russia to be sold as a result of the Russian scrappage scheme.
The government extends the programme for another yearprovides 10 billion rubles(333 billion US dollars) for this. The prgramme is planned to be finished in 2011.