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"AUTOSTAT OMNIBUS-2020". Winter Car tires: preferences of car owners (fourth wave)

"AUTOSTAT OMNIBUS-2020". Winter Car tires: preferences of car owners (fourth wave)

Exit date 07.12.2020

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Price 3500 eur.

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Issues of car loans grew by 16% in October


Loans issued for new cars in October exceeded the level of October last year by 16% in quantities and by 17% in rubles. Such an assessment of the market is given by the analytical agency "AUTOSTAT" on the basis of data received from 20 leading auto loan banks. Such a noticeable dynamics can be explained by the supply of cars expected by buyers to car dealerships, as well as the influence of the state program on the market. In most banks taking part in it, 50-60% of loans are loans with benefits. In October of the previous year, the funds of the state program had already been practically used by this time and the volume of payments under it was only up to 5%.

The number of car loans issued for used cars exceeded the level of October of the last year by only 6%, but at the same time increased by 20% in financial terms. The financial growth is largely due to the rise in prices for used cars, as well as a change in the market structure towards more active buyers of used cars in the premium segment. This is confirmed by the size of the average loan. The average loan sum for a new car for the group of banks was 920.5 thousand rubles, which is higher by 0.5% than in October of the previous year. The average loan for a used car was 654.7 thousand rubles, which is higher by 14.5% than in October of the previous year.

In the near future, we can expect a continuation of positive dynamics both in the car market and in car lending, due to the desire of buyers to buy a car here and now in anticipation of a further rise in prices - until the funds allocated for the state program are completed. It should be reminded that the banks for which the market is assessed have a share of more than 70% of the car loan market, according to the NBCH.

11.11.20 AUTOSTAT
Source: www.autostat.ru