It has become clear which cars Russians plan to buy on credit in 2024 14:08

More than a quarter (27%) of Russians surveyed in 2024 plan to buy used foreign cars of familiar Western brands on credit, and 24% of Russians want to buy new Chinese cars on credit; the most popular brands were Haval, Chery and Geely. This is due to the financial market survey “Vyberu.ru”, the results of which are available on “socialbites.ca”.

12% of respondents plan to support the domestic auto industry; new Russian cars can be purchased under concessional credit programs, and 3% of respondents are considering purchasing new cars from European, Japanese or Korean manufacturers brought to Russia through parallel imports. 34% expect car prices to drop, so they will hold off on buying for now.

“Auto loan volumes are increasing not only due to high demand, but also due to rising vehicle prices, which significantly increase the average loan amount. When applying for a car loan, many borrowers still prefer used cars from Western manufacturers, because they are more familiar with both driving and service,” commented Yaroslav Bajurak, general director of the financial market “Vyberu.ru”.

According to him, the share of second-hand car loans will gradually decrease: despite the mass departure of European car brands, the market offers a wide range of Chinese and domestic cars in different price segments. Bajurak added that Chinese automakers offer customers discounts, subsidies and installment plans for purchases, and some brands fall under government programs for preferential auto loans.

“Therefore, increasing the share of domestic components in Haval Jolion will allow buyers to purchase this model at a lower price, on par with Lada cars. “Sales of Iranian cars started in Russia in 2023, the product range needs to be expanded this year, Indian and African manufacturers are also interested in the domestic car market.”

At the end of February, analysts from the financial market Vyberu.ru surveyed 5 thousand Russians aged 18 to 60 and found out which cars they plan to buy on credit.

A record $1.32 trillion in auto loans were issued in 2023, according to the National Credit Bureau. rub. was 98.4% more than the whole of 2022, and the number of loans given for new and second-hand cars in January 2024 increased by 27.7% compared to the same period last year.

Previously in Russia appreciatedWhat will happen to vehicle loans in 2024?

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Source: Gazeta

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