Russian carmakers seek government support

Russian car manufacturers have requested government support in order to help maintain staffing levels during the ongoing Russian financial crisis. According a report in Russia’s Kommersant, Kamaz, AvtoVAZ and Sollers have filed requests to their respective regional governments to access funds to help keep employment for workers.

The mayday comes as Russian domestic demand for cars continues falling, Kommersant reported, citing company representatives and unidentified officials. In short the Russian OEMs are seeking to access portions of the 52.5 billion ruble fund the Russian government offered to create as a part of its anti-crisis plan.

The latest news would seem to confirm analysts suggestions that Russian car market is facing “a perfect storm” of prevailing economic winds. Indeed, they suggest the theory is already having a significant real-world impact. And this in turn is inevitably impacting the variety of tyre makers (ranging from premium European to Chinese imported brands) that have interests in Russia.