Russia Unveils Plan to Help Its Automakers

Russian PM Putin today in Naberezhniye announced Russia’s plan to encourage sales of Russian made vehicles to help its domestic troubled car makers. Under the proposed plan, the Russian government wants its people to only purchase domestic cars, and would fully cover the costs to ship domestic cars across Russia to make them readily accessible. Under the plan, the government would also subsidize loans on cars less than USD $13,000. The plan has been criticized as the plan is too expensive and it simply doesn’t make economic sense to move vehicles across all of Russia. There are also concerns about the heavy government involvement in people’s lives. According to a recent report by Pricewaterhouse Coopers, less than 50% of cars sold in Russia were domestically made. Recently, the Russian government also introduced prohibitive tariffs on imported cars which have resulted in many protests. Aggregately, car sales in Russia are expected to drop by as much as almost 50% in 2009 because of the economic crisis and high unemployment.


tag TAGS:
Short URL: http://business2press.com?p=671
Recommended:
b2p Ensure that you follow us on Twitter and Like us on Facebook
Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to hercules@business2press.com
checkmark
We are perfectly committed to the highest ethical and professional codes of conduct and standards in the industry on a firm wide basis. Learn more about us, our contributors, and our governance
b2p
We encourage you to comment. Comments are moderated. Comments that are abusive, off-topic, have marginal substance, or include promotional content will be removed. We cannot facilitate requests to edit or remove comments, or explain moderation decisions
  • http://www.jamaipanese.com Jamaipanese

    wow there is no end to the economic turmoil in sight

Business 2.0 Press publishes exclusive business tech news and analysis covering start-ups to large-caps from Bay & Wall streets since 2008 from a group of highly knowledgeable industry professionals that abide by the toughest industry codes of conduct and professional standards lightMore

lightAdd value by subscribing (RSS)

logo

StockFractions.com has the most stock ratios for public companies. Get the most comprehensive micro insight on public firms available on the web, all for free.
Stock Fractionsgo

title

Colon cancer is one of the leading causes of death. Irrespective of family history, everyone is exposed to the risk. About 90% of colon cancer cases begin from non-cancerous tumors, polyps, which could form in the large bowel. Screening with a colonoscopy will painlessly remove any polyps hence almost entirely reducing your risk of developing the horrible disease. The good news is that about 90% of colon cancer cases are preventable through a simple (yes, simple) colonoscopy.
Learn moreatom
Public service message from Business 2.0 Press