About a half of new passenger cars in our country are sold on credit. As experts of the analytical agency "AUTOSTAT" and the National Bureau of Credit Histories (NBCH) calculated, the share was 45% at the end of 8 months of 2020. Accordingly, the remaining 55% of cars were purchased for cash.
Meanwhile, the achieved result of the share of car sales on credit practically corresponds to the record, which was recorded in 2008 and 2013. Let's remind that they were one of the most "significant" in the history of the Russian car market.
But the minimum share of credit sales (24%) was in 2009 - almost two times lower than now. But then the market amid the global financial crisis collapsed twice. It dropped quite deeply in the next crisis period: from 46% in 2013 to 32% in 2015.
However, since then, the share of car loan sales has shown an upward trend (with the exception of a slight drawdown in 2018). According to experts, the state support programs, first of all, “First / Family Car”, which the Government of the Russian Federation launched in 2017, provide significant support to the car loan market.
