In April, a historical record was set on the car loan market – the volume of the loan portfolio reached 1.25 trillion rubles. Kommersant writes about this with reference to data from the Scoring Bureau.
According to the company, over the year the number of car loans issued increased by 3.7 times, to 68.9 thousand, and their amount – by 4 times, to 90.4 billion rubles.
According to VTB, the growth of car loans in the first four months of the year was also a record. Over the period from January to April, the volume of loans issued by the bank doubled compared to the same period in 2022 and amounted to 34 billion rubles, the number of loans for cars increased by 2.5 times, to 28 thousand.
At the same time, experts believe that the results of May will exceed the April values. Sergey Litvinenko, head of Alfa-Bank’s car loan development directorate, told the publication that the market continues to trend towards an increase in the contractual terms of car loans, which is dictated primarily by the desire of customers to reduce the monthly payment.
As for rates, according to Stanislav Sukhov, an analyst at Frank RG, they were “smoothly declining.” Typically, car loan rates are more inert than, for example, mortgage rates, the key rate of the Central Bank has long been kept at the same level, and car loans continue to win back the previous decline, Sukhov noted. True, the expert pointed out, this trend may soon end if the regulator switches to a rate increase cycle.
Source: Rosbalt
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