View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
April 7, 2010

RUSSIA: AvtoVAZ continues to feel ‘clunkers’ lift

AvtoVAZ has said it has sold 10,800 cars as part of the Russian government’s 'cash for clunkers' scheme as of Tuesday, April 6.

AvtoVAZ has said it has sold 10,800 cars as part of the Russian government’s ‘cash for clunkers’ scheme as of Tuesday, April 6.

Under the scheme, which started operating on March 8, owners of cars produced in 1999 or earlier can receive bonuses worth 50,000 roubles to buy new Russian-made cars in exchange for their old cars.

AvtoVAZ dealers have so far received around 100,000 bids under the program, the AvtoVAZ press office has said.

The scrappage incentive will be in operation till November 1. The Industry and Trade Ministry believes the program could stimulate sales of about 200,000 new cars.

JD Power forecasts that cars sales in Russia will increase by 10% this year to around 1.6m units.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto