The government has extended the preferential car loan program for 2016

Prime Minister Dmitry Medvedev signed a government decree extending the preferential car lending and leasing program, which was in force in 2015, into 2016.

As noted on the government website, this resolution allocates budgetary allocations for the current year in the amount of 16.3 billion rubles to the Ministry of Industry and Trade. This state support should ensure additional capacity utilization of Russian automakers by 270 thousand cars and 32 thousand units of equipment, the explanatory note says.

Medvedev himself emphasized at a government meeting on Thursday that the auto industry requires increased attention. According to him, the allocated 16 billion rubles will make it possible to maintain lending and leasing rates at an acceptable level and support demand for cars, TASS reports.

Let us remind you that the government intends to allocate a total of 138 billion rubles to support the domestic automobile industry in 2016.