Sales of new passenger cars in Russia in...

The Russian government this week launched its version of the popular U.S. "Cash for Clunkers" program as part of efforts to boost car sales, which fell by 49% in 2009.

"It is encouraging to see a further move in the right direction, 32% decline in February compared to a 37% decline in the much smaller month of January. However the first months of 2009 were heavily distorted so it will only be once we have the full quarter-one figures that an accurate picture of the market and the impact of government measures can be gained," said David Thomas, the chairman of the AEB Automobile Manufacturers Committee.

The 32% year-on-year decline in February represented total sales of 91,922, against 73,940 in January, the AEB said in a press release. Last February saw sales of 134,871, with 118,024 units sold in January 2009.

Russian car dealers started issuing the "disposal premiums" on Monday. The money is provided to those ready to have their 10-year-or-older car scrapped

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