Experts: Moskvich inclusion in state program will spur demand for preferential car loans

Ministry of Industry and Trade of the Russian Federation at the end of March resumed the program of preferential car loans, but in a reduced form. According to credit organizations, the effectiveness of this measure will increase with the expansion of the list of cars available at a discount from the state. These and other issues will be discussed within the framework of the 5th annual auto business forum "FinAuto - 2023. Financial instruments of the car market", which will be held by AUTOSTAT agency on April 20th in Moscow. According to Marina Dembitskaya, the head of Otkritie Auto (auto business unit of Otkritie Bank), the list of available brands on preferential car loans expanding is logical, for example, the inclusion of Moskvich. At the same time, the list of Chinese brands expanding should be thoughtful: the inclusion of new brands / models in the state program can stimulate sales, but it is justified with a significant increase in subsidies so as not to interfere with stimulating demand for domestic auto industry products.

"Today, preferential conditions do not apply to the Moskvich brand. Sales of Moskvich cars are growing rapidly, according to some estimates, about 60% of these cars are sold on credit. Taking into account the demand for Moskvich cars, we expect an increase in the share of the state program in the issuance of car loans if this brand is added to the perimeter," says Alexei Bocharnikov, head of the Autocrediting department at VTB. In turn, the head of the product policy department at Rosbank Auto, Alexei Bessonov, notes that every year the automotive market is waiting for the resumption of the state program of preferential car loans.

The demand for cars that meet the requirements of the program is so that a queue is formed for orders. I would like more budgetary funds to be allocated for state support in order to prolong the program throughout the year.