Preferential loans will be offered for Ukrainian-assembled cars

Ukraine has promised to launch a program to subsidize car loans for the purchase of cars assembled in the country.

The Office of the President started talking about a program to subsidize interest rates on car loans for the population to purchase cars assembled in the country. This was announced by Deputy Head of the Presidential Office Rostislav Shurma.

Shurma explained that interest rates are quite high in Ukraine, which makes loans too expensive. “Therefore, in the near future we will launch a program to subsidize interest rates, which will allow citizens to receive car loans at preferential interest rates,” he noted.

The official called the second step the consolidation of government procurement and the purchase of products from local manufacturers in order to motivate them and increase production. Shurma recalled that now government agencies form, according to his estimates, up to 50% of the total demand in the country.

He called the third step the creation of a preferential tax regime for the domestic manufacturer of electric vehicles, with which it could compete with imports.

According to the deputy head of the OP, the automobile industry in Ukraine has a future, since the country has a fairly capacious domestic market. “In the worst periods it drops to 200 thousand cars. In the best periods it was about 600 thousand. cars per year, all without the proper financial tools to allow people to get competitive credit at competitive rates,” Shurma described it.

The market for new passenger cars in 2022 amounted to 40 thousand. units. Over the 11 months of 2023, Ukrainians purchased 55 thousand. new passenger cars.