The increase in recycling fees, approved by the Russian government decree, will lead to a significant increase in car prices, Alexey Podshchekoldin, the head of the Russian Automobile Dealers Association (ROAD), told socialbites.ca correspondent at the ROAD Convention.
“We at ROAD expect the increase in car prices to reach 20% soon due to the approved decision to increase recycling fee rates,” Podshchekoldin said.
On September 13, a long-term scale to index the recycling fee for cars until 2030 was approved.
The recycling fee for vehicles and trailers will be indexed from 1 October this year: in the first phase the rate will increase by 70-85% and will then be adjusted by 10-20% from 1 January of each subsequent year.
Recycling fee amounts for cars imported into the country before October 1 this year will be determined according to the previous coefficients, provided that the documents are submitted to the customs authorities by October 15 at the latest.
It’s happened before known About the record increase in the price of Chinese cars after the increase in recycling fees.