Russia is mulling an extension to its temporary recycling scheme that aims to boost the beleaguered market by around 170,000 vehicles.
The recycling or scrappage initiative was introduced last month in a bid to halt the precipitous slide in Russia car sales that has seen huge falls as economic and political tensions continue to grip the country.
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Such an impetus was only designed to last until this New Year’s Eve, but it now appears from reliable sources in Russia, it may well be extended beyond that sharp burst of sales activity.
“Denis Manturov, Minister of Industry and Trade, commented 70,000 vehicles have been sold under the scrappage scheme by the moment,” the Russian source told just-auto.
“For the last week of October, sales volumes comprised 20,000 vehicles. Considering growth in sales on weekly basis, 170,000 sales plan might be met before the end of 2014.
“Minister announced, taking into account success of programme, it may be extended in 2015.”
The country previously saw a scrappage or recycling scheme in 2010, extended into 2011, with the current boost worth slightly more than US$1,000 per car.
Manturov previously noted funds would be transferred to the country’s regions through “subventions at the end of this year.”
The incentives cover all categories of vehicles, namely, passenger cars, off-road vehicles, light commercial vehicles, lorries, and buses.
