AvtoVAZ proposed to replace preferential car loans with certificates

AvtoVAZ has proposed to change the state program of preferential car loans and issue discount certificates instead of loans. This idea was proposed by AvtoVAZ Vice President for External Relations and Shareholder Relations Sergei Gromak on December 17.

"We are discussing in the industry community about reformatting measures. I am now very simplifying: to give a discount on a car not through a loan, but maybe through some kind of direct certificate to a citizen for a discount," Prime quoted Gromak as saying.

The top manager suggested issuing such a certificate for a discount, for example, within the framework of trade-in programs or when disposing of a used car through a dealer. According to him, it is worth reformatting the support measure because in the current situation, although significant funds have been allocated for preferential car lending, car loans are not available to citizens due to high interest rates and strict requirements to borrowers.

Earlier in the day, the Ministry of Industry and Trade of the Russian Federation reported that Russia plans to allocate 36 billion rubles for the state program of preferential car loans in 2025, and 27 billion rubles for the state program of preferential leasing.

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On December 11, the Russian government announced that more than 18 billion rubles will be additionally allocated for the implementation of preferential car lending and leasing programs. A total of almost Br45 billion is allocated in these areas this year.

Prior to that, on December 4, the head of AvtoVAZ Maxim Sokolov said that the increase in the key rate and tightening of lending standards made car loans almost unaffordable for Russians.