Russia's passenger car sales to grow 14.8% in '11

Feb 09, 2011 12:00 AM

New passenger car and light commercial vehicle sales in Russia are expected to grow 14.8% in 2011 year-on-year to 2.19 mm cars, an official at the Industry and Trade Ministry said recently. Alexei Rakhmanov, head of the ministry's automobile department, said the forecast was made taking into account all state programs for auto industry support, including the "cash-for-clunkers" program and the program of vehicle purchases by federal ministries and departments.

The "cash for clunkers" program allows automobile owners to trade in their old cars, if they are at least 10 years old, in exchange for a 50,000 ruble ($1,670) state certificate to help buy a new car produced in Russia. Rakhmanov said that 434,950 certificates were issued under the "cash-for-clunkers" program as of February 8, 2011 and as many as 320,040 motorists had already purchased new vehicles.

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