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The report in focus

Commercial Vehicle Market in Russia. Results of 2019, Trends and Prospects

Commercial Vehicle Market in Russia. Results of 2019, Trends and Prospects

Exit date 03.04.2020

Format PDF

Price 850 eur.

In the report commercial vehicle market is traditionally subdivided into segments: light commercial vehicles (LCV), medium-duty vehicles (MCV), heavy-duty trucks (HCV) and buses (BUS).

03 april more info

Analytics

Russian dealers of Ford began sales of updated Mondeo

Ford Mondeo sedan has received a technological upgrade aimed at the safety improving of the car and improving of the intelligent driver assistance systems. People can order updated Ford Mondeo at all official Ford dealers in Russia.

05 julymore info

Infographics

What characteristics of SUV models do Russians prefer?

News

Car loans increased by 16% in Russia

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For the first two months of 2020, the Russians bought on credit 128.3 thousand cars (new and used), which is higher by 15.9% than in the same period of the previous year. Such data are provided by the National Bureau of Credit Histories (NBCH) for information from 4000 lenders.

Meanwhile, experts of the AUTOSTAT analytical agency noted that the growth in the issuance of car loans is taking place against the backdrop of an increase in the market of new passenger cars in the country. So, for the reporting period, its volume reached 215 thousand units - higher by 12% than in January - February of 2019. It is likely that the number of issued car loans could be even greater if financial institutions had not changed their policies regarding potential borrowers.

In particular, experts noted: the growth in the issuance of car loans in these months occurred against the background of a decrease in the share of approval of loan applications. If in the previous year, banks for the specified period approved about 47% of all client applications for car loans, at the beginning of 2020 - only 34%. Experts believe that the resumption of state support programs contributed to the growth of car loans.

“Without a doubt, an increase in the issuance of car loans provided substantial support to the Russian car market at the beginning of 2020,” - says Sergey Udalov, Executive Director of the AUTOSTAT analytical agency. - It is worth noting that, if we would not have car loans, we most likely wouldn’t see the market growth, or it would not be so noticeable. At the same time, both the growth in the issuance of car loans and the increase in the volume of purchases of new cars were associated with state programs of preferential lending (“First / Family Car”). If in January - February of the previous year they were suspended, then in 2020 their work started from January".

26.03.20 AUTOSTAT
Source: www.autostat.ru