Industry Ministry forecasts Russian automotive output to fall 50% in 2009
MOSCOW. Oct 13 (Interfax) - Output in the Russian automotive industry will decline about 50% in 2009, according to Industry and Trade Ministry forecasts prepared for a presentation to the State Duma on October 14.
Automobile production might recover to pre-crisis levels by 2013, according to the forecasts.
A total of 42.5 billion rubles was allocated from federal and regional budgets for state purchases of cars in 2009. Contracts were concluded totaling 37.5 billion rubles. Another 1 billion rubles was provided from the budget for subsidized leases and 2 billion rubles on discount car loans, as well as 2 billion rubles to compensate the cost of shipping cars to the Far East.
State guarantees were provided to Sollers (5 billion rubles), Kamaz (4.6 billion rubles) and GAZ (19.8 billion rubles).
The ministry reckons those measures increased annual production by about 173,300 units and preserved 52,700 jobs.
Russia produced 1.47 million light vehicles in 2008, 255,000 trucks and 66,000 buses, according to Rosstat data.