In April this year, Russian banks gave citizens 77,000 vehicle loans worth 109.5 billion rubles. The volume of loans for the purchase of cars set a record for 10 years and exceeded the pre-crisis maximum of 100.1 billion rubles, which was April 2021. In this respect Wrote RBC with reference to data from the analytical company Frank RG.
According to Frank RG, in April 2023 the volume of auto loans increased by 14% and their number increased by 9% compared to March.
Issues in this segment are growing faster for the second month in a row: their volumes increased by 21% and numbers by 14% in March compared to February. At the same time, the average size of a car loan increased – it amounted to 1.42 million rubles in April, surpassing the February record (1.4 million rubles) last year.
The issuance of automobile loans in Russia began to wane on the backdrop of a special operation, where many foreign automakers stopped deliveries to Russia. Among them were Audi, BMW, Chery and others. The cessation of deliveries caused a shortage of cars in the market, a decrease in auto loans and a decrease in car sales in the Russian market.
VTB Bank admitted that in 2023 the situation will change due to the supply of cars from Asia to Russia. Another growth factor for the bank segment was the development of parallel imports.
March 31 Central Bank knowledgeableThat in 2022 4% of households in Russia owe car loans.