Russian Automotive Market Research

The Government of the Russian Federation published Decree No. 907 of June 23 on providing the discount for obtaining the loan for a new car manufactured in Russia for families with children, medical workers and residents of the Far East.

The state program provides a 10% discount of the car value. The state program covers families with one or more minor children; employees of medical organizations of the state healthcare system; buyers delivering the car aged over 6 years under trade-in, provided that they owned it for at least 1 year. The discount is 25% on the territory of the Far Eastern federal district, but now it can be obtained only if you have registration at the place of residence or registration at the place of temporary residence on the territory of the Far Eastern federal district. Moreover, it is possible to receive the loan on the electric car with a 25% discount of the value in any region of Russia.

It should be noted that the maximum price for cars available under preferential auto loans increased from 1 million rubles to 1.5 million rubles. A total of 22.5 billion rubles were allocated for the new program in 2020.

According to the explanatory note, the state will provide banks with funds to recover lost income.