Subsidized car loans could continue if Q1 sales poor - Dvorkovich
MOSCOW. Jan 13 (Interfax) - The subsidized automobile loans program in Russia that finished at the end of last year could be continued if car sales in the first quarter of 2014 are not satisfactory, Deputy Prime Minister Arkady Dvorkovich said.
"We'll look at the situation in the first quarter. If we see it will not be stable without these measures, that it won't improve, we'll make proposals to extend the program into 2014," Dvorkovich said at a meeting with Russian Prime Minister Dmitry Medvedev and deputy prime ministers.
The prime minister said the program was good for both manufacturers and motorists alike, but that attention must be paid to the situation with consumer lending in Russia.
"This isn't related to car loans, of course, but in general these are issues to do with consumer lending and the state of the credit market in the country," Medvedev said.
Medvedev asked Dvorkovich and Industry Minister Denis Manturov to report separately on the issue whether the subsidized loans ought to be continued.
