Ministry of Industry and Trade offers to support the car leasing
OREANDA-NEWS. Ministry of Industry in the coming days will propose to the government the program to support Russian car leasing, said the head of department, Denis Manturov. According to him, this issue, among others, was discussed at the meeting with First Deputy Prime Minister, Igor Shuvalov.
According to the newspaper "Vedomosti", citing its sources, the support of car leasing – is an initiative of the industry. It is proposed to subsidize the part of the leasing rate, to hold the capitalization of State Transport Leasing Company (GTLK) for the development of car leasing. According to sources, it may take 4-5 billion Rubles. The scope and form of support are not selected: Mr.Shuvalov instructed to work out the available leasing schemes.
By the results of the first nine months of 2014 the Russian leasing market declined by 10% to 522 billion Rubles, but the share of car leasing increased by 10.5 p.p. to 32.3% (17.3% accounted for commercial vehicles, 15% - on passenger vehicles), calculated in the "Expert RA". Reasons for the growth – is "active participation of leasing state-owned companies in the "retail "transactions, the high liquidity of assets," - according to his study. The state program of auto leasing will support the sales in a falling market when prices rise and rise in price of car loans, says the executive director of the agency "AUTOSTAT", Sergey Udalov. "The tool will be effective because it is discussed the program of targeted support of end-users rather than producers or sellers," - says the vice-president of "Europlan", Alexander Mikhailov. "The decision to support leasing is critical in the fall of purchasing power, this measure will have a multiplier effect with other incentive programs," - said the vice-president of "GAZ Group", Elena Matveeva. Leasing sales of buses of "GAZ Group" in January of 2015 fell by 70% compared to last year, LCV – by 55%. Mainly due to a sharp rise in rates of leasing, more stringent requirements for lessees, falling demand, lists Mrs. Matveeva. According to Mr. Mikhailov, lease rates have increased, as well as stakes in banks.
In addition, Mr. Manturov not rule out that by the end of 2015 it will be extended the scrappage program, however, the decision will depend on the situation on the market in the first quarter.
Meanwhile, Igor Shuvalov urged automakers not rely only on state support, but to develop export and reduce costs by monitoring the situation on the labor market. He noted that due to the major investment projects of international companies and localization, the car industry has managed to become one of the drivers of industrial growth in the last decade. "Even under such difficult conditions like today, you must go to the new and old markets, where we have to promote your products", - "RBK" cited the words of Mr. Shuvalov. During the meeting, it was pointed out that the current leaders of the Russian car industry of AvtoVAZ, KAMAZ and GAZ exported from 15 to 19% of its products to countries in Southeast Asia, Egypt, Kazakhstan and Belarus.