Page 134 - RusRPTOct22

ruble.
Kommersant daily also reminds that August is a seasonally favourable month for car sales.
While Kia remained one of the best-sellers in Russia, its sales dropped by 77% to 4,000 vehicles. At the same time, Chinese Haval saw its sales increase by 26% to 2,900 vehicles and was the third most selling model in August.
The Russian government could run into trouble supporting the domestic car industry as the traditional funding scheme through utility levies has collapsed, according to a report of Kommersant daily citing unnamed sources familiar with drafting the 2023 budget. As followed closely by bne IntelliNews, the Finance Ministry seems to be running into a tight financial squeeze as it has to walk a tightrope of shrinking revenues and the need to inject subsidies in multiple industries, both a consequence of Russia’s military invasion of Ukraine.
134 RUSSIA Country Report October 2022 www.intellinews.com