Russia may launch 'cash-for-clunkers' scheme for trucks - paper

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The Russian Trade and Industry Ministry has worked out basic parameters of a new 'cash-for-clunkers' program for trucks for 2012-2014 , Vedomosti business daily quoted Alexei Rakhmanov, a department director at the ministry, as saying on Wednesday.

The Russian Trade and Industry Ministry has worked out basic parameters of a new 'cash-for-clunkers' program for trucks for 2012-2014 , Vedomosti business daily quoted Alexei Rakhmanov, a department director at the ministry, as saying on Wednesday.

If the government approves the plan, the state will spend 22.1 billion rubles ($760 million) to implement the program, which the paper says was based on proposals from the country's largest truck-maker KamAZ.

The program will cover trucks older than 15 years and heavier than six tons. KamAZ estimates the number of such trucks at 1.8 million.

if the plan is approved, the government will pay 115,000 rubles, or 15% of a truck's average price to owners of trucks weighing 6-14 tons for the purchase of a locally-made vehicle. It will pay 270,000 rubles to owners of trucks heavier than 14 tons.

KamAZ says Russian companies will cut their transportation costs by 126 billion rubles by using more  modern trucks.

Russia produces about 58,660 heavy trucks a year and KamAZ expects that 38,000 trucks a year would be covered by the program.

In 2010, Russia launched its first 'cash-for-clunkers' program for passenger cars after the industry was severely hit by the international financial crisis. The car market grew 10% after the program's first stage was launched, encouraging the government to extend it.

 

MOSCOW, March 2 (RIA Novosti)

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