Domestic car industry’s contribution in GDP exceeds 61 billion Tenge
The contribution of the domestic car industry in Kazakhstan’s GDP exceeded 61 billion tenge since January. The share exceeded the contribution of the pharmaceutical and textile industries. This was reported by the management of Kazakhstan’s Union of Automotive Industry. This year, Kazakhstani car manufacturers significantly replenished the country’s budget, generating 17.4 billion tenge of tax revenues. Experts say that care sales rose significantly this fall.
OLEG ALFYOROV, CHAIRMAN, KAZAKHSTAN’S UNION OF AUTOMOTIVE INDUSTRY:
The volume of sales is significant in the foreign currency, which surpassed last year’s figures by 17%. We expect that at the end of the year as a whole, domestic dealers will sell cars worth more than $850 million.
Another major and important event of the year for domestic car enthusiasts was the start of lending within the second tranche of the state car loans program. The government’s allocation of funds worth 11 billion tenge, and softening of conditions for residents for participation in the program supported the industry. Thus, according to the preliminary results of the Union of automotive industry enterprises “KazAvtoProm”, 2016 will be completed with sales of 40,000-42,000 new domestically manufactured cars. In addition, experts say, the launch of new full cycle assembly plants in the country will help boost the market and at the same time reduce the car prices.