30.09.2015 / TAGAZ assets were valued at 4.5 billion rubles

Russian Automotive Market Research

The property complex of Taganrog automobile plant was valued at 4.5 billion rubles. Arbitration manager put up the company's assets, including land plots, production shops, buildings and equipment for Hyundai assembly to auction, which will be held on November 2. Part of the property is in pledge in banks and other companies.

Previously, assets of the plant were valued at 5.7 billion rubles. The revaluation is connected with the methodology change. According to the report, to get profit the plant needs to produce about 75 thousand cars a quarter, but previously the company annually assembled no more than 110 thousand cars. The evaluator noted that the majority of the company's equipment is not universal and is designed only for the assembly of TagAZ Aquila, Chery Bonus, Estina, Elana, Tiggo, Hyundai Accent, County and Porter.

29.09.2015 / UAZ dealers will be able to use VTB factoring

Russian Automotive Market Research

UAZ and VTB Factoring signed a package of agreements, which provide for the delivery of up to 50 thousand UAZ cars to dealers under factoring scheme within seven years. According to estimates of VTB Group, the planned volume of financing of supplies for this period will be 200 billion rubles.

Usually under the factoring scheme the company-factor provides for the short-term accounts receivable funding to the supplier. But the deal with Sollers is carried out by the asset-based lending mechanism, when VTB Factoring will buy cars and transfer them to dealers under the agency agreement, remaining their owner. Dealers will pay off with a factor after car sales. According to VTB, the deferral of payment will be 60-120 days depending on the situation in each region. The financing costs for the dealer will be based on the key rate of the Central Bank (now it is 11%) and as of September by a few percentage points lower than standard tools of working capital facility.

29.09.2015 / Infiniti Insurance is a new insurance program from automaker

Russian Automotive Market Research

Infiniti launches its own insurance program Infiniti Insurance designed especially for buyers of Infiniti cars in Russia. Infiniti Insurance offers insurance tariffs for the entire model line-up of the brand with the flexible coverage depending on the client’s needs.

Motor hull insurance Premium is insurance without restrictions with the full range of privileged service Infiniti. Motor hull insurance Intellect is an optimal balance between coverage and price. The tariff is notable for the benefit of up to 50% of the cost of standard motor hull insurance and provides for the full insurance protection. The feature of this tariff is that the franchise is used only beginning the third insured event.

28.09.2015 / Launch of production of LADA Vesta in Izhevsk

Russian Automotive Market Research

Assembly site LADA Izhevsk launched serial production of LADA Vesta. LADA Vesta is a car on a new Russian platform B/C, developed by AVTOVAZ engineers in collaboration with specialists of Renault-Nissan Alliance.

Vesta is produced at assembly site LADA Izhevsk on AIMS line, on which Nissan Sentra and Tiida have been already assembled. Sales of LADA Vesta will begin on November 25, 2015. Firstly, in November-December a novelty will be available to purchase in megalopolises and cities leading in terms of sales of LADA cars (22 cities, 60 dealers). Later sales will start in 65 cities and 120 dealer centers.

Vesta exact price is not known yet, but it will vary from 495 000 to 600 000 rubles. Full price lists will be disclosed at the date of sales launch.

28.09.2015 / Launch of construction of Great Wall plant in Russia

Russian Automotive Market Research

The Chinese group Great Wall intends to increase sales of Haval cars in Russia through establishing the local production. On September 25 the company began to construct the automobile plant in the Tula region.

The new enterprise, in which the Chinese company plans to invest 0.5 billion dollars, will open in two years. Great Wall plans to assemble 4 models under the brand Haval, including H2, H6 Coupe and H9. The automobile plant is designed to produce up to 150 thousand cars per year after reaching its production capacity. New facilities will include a stamping shop, a warehouse of spare parts, welding, painting and assembly.

25.09.2015 / Launch of the program for sales of used Hyundai cars H-Promise

Russian Automotive Market Research

Hyundai Motor CIS launches the project for sales of certified used cars H-Promise. Under the terms of H-Promise, the client receives a one-year warranty, comprehensive inspection of the car by 100 items, its preparation for the further operation and special terms of lending and purchase of cars under trade-in under the loyalty program for Hyundai car owners - H-Promise. In addition, the buyer becomes the participant of the roadside assistance program.

A certificate, confirming the full compliance with the program terms, can be received only by cars, the age of which does not exceed 4 years; actual mileage – no more than 130 thousand km and corresponds to the odometer readings; the body has no signs of power structure repair and airbags deployment. All cars undergo a comprehensive technical inspection by 100 items, which should confirm the excellent condition of the car and if repair is necessary original parts, which are replaced by the qualified staff, are used. In addition, each car passes the clean title test.

23.09.2015 / Eurasian Economic Union changed terms of customs clearance of imported cars

Russian Automotive Market Research

Eurasian Economic Union (EAEU), which includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, changed rules of import of customs unclear cars. Changes came into effect on September 19.

Now citizens of EAEU can import the customs unclear car into the territory of the EAEU countries, including Russia, for up to 6 months, foreigners - for the period up to 1 year. Previously, the period was 3 months, after which it was possible to extend it in the customs authority. In case of overdue documents the car owner was obliged to clear the car. 

This decision will eliminate the need to turn to the customs authority, often situated at a sufficient distance from the citizen location, to extend the period of temporary import. The period of temporary import will be established taking into account each certain case depending on the duration of stay of citizens on the territory of the Union, up to the maximum allowable period of temporary import.

23.09.2015 / Launch of sales of the updated Lexus ES in Russia

Russian Automotive Market Research

Lexus announced the launch of sales of the updated ES sedan in the Russian market. The car is available in dealerships in three versions: ES 200, ES 250 and ES 350. The cost of the standard version is 1 849 000 rubles.

After restyling the model received a new 2.0-liter petrol engine capacity of 150 HP, which is installed on the basic version ES. ES 250 is equipped, as previously, with 2.5-liter unit (185 HP) and its price starts from 2 062 000 rubles. The top version ES 350 with V6 engine capacity of 249 HP will cost at least 2 566 000 rubles.

22.09.2015 / Kia offers updated cee’d at the price from 739.9 thousand rubles

Russian Automotive Market Research

Kia released the full price list for the updated cee'd family, sales of which will start on October 1. As previously, the model is available to order in a body three - and five-door hatchback, as well as wagon. The most affordable five-door cee'd will cost at least 739 900 rubles - by 10000 rubles more expensive than before the restyling. Now the price for the novelty in a body station wagon starts from 814 900 rubles and three-door hatchback pro_cee'd will cost at least 839 900 rubles. Prices for sports version pro_cee'd GT start from 1 129 900 rubles.

Changes in the hatchback design were minimal. Updated cee'd received a new radiator grill, new headlights and taillights, other wheel disks and modified bumpers.

The engine range of the new car included a new 1.6-liter GDI petrol engine capacity of 135 HP. The engine works in combination with six-speed DCT transmission with two clutches.

22.09.2015 / Growth of the cost of MTPL insurance policies enabled to increase insurance payments

Russian Automotive Market Research

According to the Russian Union of Motor Insurers, since the beginning of 2015 the average cost of MTPL insurance policies increased by 1.8 thousand rubles. For the period from January 1 to August 31, 2015, 136.157 billion rubles of insurance premiums were paid that is by 47% more than in the similar period of 2014 (92.606 billion rubles).

As for payments for insurance events, according to the results of eight months of 2015, they increased by 38% and the total amount made 76.417 billion rubles. From January to August 1.699 million insurance events were registered, 1.697 million of which were settled.

The average MTPL premium for eight months was 5.2 thousand rubles – the growth reached 1.89 thousand rubles. The average insurance settlement increased by 10.5 thousand rubles to 45 thousand rubles. The average size of the insurance payment in August 2015 was 52.2 thousand rubles, in March – 45.6 thousand rubles and in August 2014 it did not exceed 38.3 thousand rubles.