RUSSIA: Putin applauds Kamaz rescue

By just-auto.com editorial team | 18 November 2009

Russian Prime Minister Vladimir Putin has said he believes the Russian government's bailout plan for truck maker Kamaz had been successful - especially the public procurement of Kamaz trucks.

"Last December I visited Kamaz facilities, and we outlined a program to support the company and the auto industry, and it has worked," he said during a visit to Kamaz facilities.

He also said he hoped the company would pull out of the crisis due to the bailout.

Putin said the government had allocated funds to purchase vehicles and half of the funds had been used to buy Kamaz trucks.

He added that the government had also allocated funds to subsidise the leasing of Kamaz trucks.
Additionally, funds had been allocated for municipal purchases, and some of the funds have been used for Kamaz truck purchases, Putin said.