Financial news

The car on the nod is not expensive

20 апреля 2009 г.

The main condition – the car should cost not more than 350 thousand roubles. Many national cars and some cars of foreign make, assembled in the country, of the simplest packaging arrangement fit this price sector. The Russians can count on both the credit and the paying off 8% of the credit rate by the government. The government is allocating 2 billon roubles for this programme , that can enable the citizens of the country to buy only about 70 thousand cars. The analysts assume that though the demand has declined, more that half a million cars will be bought in Russia this year. Car dealers have already reacted to this governmental programme of the demand support: they established their preferential loans for more expensive cars purchase.

2009 struck a blow against the auto industry. The interest of the Russian people in buying cars has declined by half. The manufacturers of the motor cars are preparing a backstroke in  May- June. The sharp increase in prices – by 20-40%. The consumers are starting to feel the aftereffect of the crisis. And the employees of three operating auto plants of Petersburg - «Ford», «Toyota» and«General Motors» - have already felt the impact the new economic situation

Now auto manufacturers are talking about the transfer of the localization terms. Because not all manufacturers of the parts are able to implement the intentions to construct the enterprises in Petersburg. Nevertheless under the crisis conditions our plants «Ford», «Toyota» and «General Motors» and in the future - «Nissan» and «Hyundai “have chances to survive. Their cars are just cheaper than the imported ones. According to experts estimates, by the summer the prices for the cars of foreign make of 2009, manufactured in Europe, the U.S. and Japan will soar by 40% due to the rouble devaluation. Their sales will completely stop.

Mikhail Shevelkov, the director of the sales department of auto dealer company: “We have decided for ourselves that we the import the foreign cars will be low for the summer – 5-6. To have them on display for customers to look around. As for the local manufacturing, the rise in prices is not so significant compared to foreign cars. The part of the costs is in roubles, they are uncustomed. The prices for them will also grow but not by 30% compared to 2008, by 15-20% it will still grow”.

The local manufacturing gains an advantage. If the cars are not sold, the button can be pushed and the production line will be stopped. Also the prices can be increased or reduced. The most pessimistic experts predict the total collapse of the sector. If not in the whole of Russia, then at least in Petersburg. The manufacturers and sellers are less categoric. According to them, they are waiting for the change in the economic situation. Well, it will be the customers that will bare the brunt.

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