In 2023, most often when applying for a car loan, Russian residents leave Lada cars, as well as Korean Hyundai and Kia cars, as collateral. This is stated in a study by the car loan service CarMoney (available from socialbites.ca). At the same time, in the ranking of collateral vehicles, AvtoVAZ cars rose from seventh place in 2022 to third place at the end of last year.
“Domestic brand Lada managed to knock out the traditional leaders (Ford, Toyota, Volkswagen and Nissan) from the top positions in the rankings. The report notes that the most popular collateral for auto loans is still Korean Hyundai and Kia cars.
According to the service, Hyundai’s share of pledged cars for the 12 months of 2023 was 9.8%. Kia ranked second with a share of 8.1%. For Lada, this figure was 6.8% compared to 5.5% the previous year. These are followed by Ford, Toyota, Volkswagen, Nissan, Renault, Chevrolet and Skoda.
The number of Chinese cars pawned has also increased; Growth in this category reached 33% on an annual basis.
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