Meeting Prime Minister Vladimir Puitn in Moscow last week, Khristenko specifically cited preferential loans and ‘cash-for-clunkers’ program, something that he said added significantly to a current upsurge in the country’s automotive industry which has seen sales of Avtovaz Lada models soaring..

Putin, in turn, said that the government will allocate 10 billion rubles for the implementation of the second phase of the ‘cash-for-clunkers’ program, which Putin explained aims to prop up domestic car makers.