| Imports of foreign cars to Russia declined over almost 75% in 2009 |
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08/02/2010 15:59 (32 Day 02:08 minutes ago) | |||||
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The FINANCIAL -- According to RIA Novosti, the amount of cars imported to Russia declined in 2009 by 74.3% year-on-year, the federal customs service said on February 8.
Imports dropped to 427,600 cars worth $8.2 billion. The import of trucks fell by 83.1% to 23,700 ($578 million).
In 2008, Russia imported 521,300 cars worth $8.51 billion and 24,000 trucks worth $589 million.
In October last year, Russia extended by 10 months increased import duties on new and used foreign cars and trucks, which sparked mass protests across the country.
The decision to raise the duty from 25% to at least 30% was designed to protect domestic producers and foreign companies involved in car production in Russia amid the global financial crisis.
The government also announced a series of other measures to support domestic car manufacturers, including state subsidies and lower transportation tariffs.
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