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ВТБ: в октябре выдачи автокредитов в России сократились почти на треть
According to VTB, in October Russians received more than 165 billion rubles to buy cars. This is almost a third lower than the result of September this year, but comparable to October last year.
The market dynamics in October are mainly due to the high concentration of demand in the previous month due to the expected increase in waste collection.
Other factors limiting demand for auto loans were the current macroprudential premiums and high rates on auto loan programs in the market.
- After mortgages and consumer loans, a "cold wave" has come to the automobile segment. Despite the great diversity, demand is held back by high market rates and changes in conditions due to the Central Bank's requirements. The situation is especially delicate for those who prefer used cars, since there are subsidy programs for manufacturers with more affordable loan parameters for new ones. Given the forecasts for the key rate and the regulator's further plans to tighten requirements for auto loans, this market has long been "cold," commented Alexey Bocharnikov, head of the credit department at VTB Automobiles.
Overall, according to VTB, over the 10 months, the issuance of car loans in Russia amounted to more than 2 trillion* rubles, which is 66% more than for the same period last year.
Thanks to a wide range of special programs from manufacturers, the main demand among Russians today is for new cars. With a lower interest rate than standard products, they encourage borrowers to increasingly choose to buy a car on the primary market. Another driver of new car sales is the state program. In the structure of VTB transactions at the end of October, new cars accounted for about 57%; Domestic and Chinese brands continue to be in the greatest demand among buyers in this segment.
The period during which Russians take out car loans shows mixed dynamics. For example, VTB clients are signing contracts for an average of 6 years this year, compared to 5.8 years in 2023.