Russian prime minister Vladimir Putin has said that the Russian government is not planning on expanding its scrappage programme that is aimed at stimulating the domestic car industry.
Under the program, 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.
Go deeper with GlobalData
The government expects about 200,000 new cars to be sold under the program. The program will remain in operation till November 1.
As of now, around 13,000 cars have been sold and 40,500 certificates have been issued under the program, Putin said.
JD Power forecasts that car sales in Russia will increase by 10% this year to around 1.6m units.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
