The volume of issued car loans fell by a half in May - the same as the car market

Experts of the analytical agency AUTOSTAT have already reported that in May of 2020, Russians bought a half as many new cars (-47.6%) as a year ago. Meanwhile, as it became known, the issuance of car loans in the previous month of spring also fell by a half. So, according to the National Credit Bureau, 40.9 thousand loans were issued for the purchase of cars (new and used) in May. This result was lower by 47.7% than a year ago (77.8 thousand units). But at the same time, May volume of car loans issuing exceeded the April similar indicator (19.8 thousand units) by 2.1 times.

As the executive director of the analytical agency AUTOSTAT Sergey Udalov noted, in May the situation both in the car market and in car loans looks better in compare with April. “In June, apparently, it should still improve. First, since June, auto dealers have been allowed to work in Moscow, Moscow region and St. Petersburg. Secondly, the conditions of the First / Family Car state programs have been improved, which provides serious support to both the car market itself and car loans,”- added Mr.Udalov.