Russian-produced Hyundai cars included in cash-for-clunkers program
MOSCOW. Jan 17 (Interfax) - The Russian Industry and Trade Ministry has included the Hyundai Solaris in the cash-for-clunkers program, the ministry said in an order dated December 14.
Motorists who trade their old cars in and receive 50,000 rubles towards a new car can now spend this on the Solaris, which Hyundai's plant in St Petersburg has been producing since the middle of December.
Hyundai has said it expects to sell 66,000-70,000 Solaris cars in Russia in 2011. The St Petersburg plant, which Hyundai started to build at a cost of EUR 500 million in June 2008, is capable of producing 105,000 and sources 45% of its parts locally.