the Volume issued in Russia car loans in April—may this year for 2 months of the regime “coronavirus” isolation — dropped by a record in 5 years and 40 billion rubles, or 5%. These data are presented in the study the credit history Bureau “Equifax” and the National Association of professional collection agencies.
As estimated by experts, “within two months of mode isolation car loan portfolio declined by more than 40 billion rubles”. This was a record decline over the past five years. If at the end of March 2020, the volume of loans exceeded 840,6 billion rubles, on the beginning of June, this figure was approximately 801 billion. Thus, in April—may the market lost about 5%”, — quotes RIA of “news” review.
Recall that in mid-June it became known that the average amount of loans in Russia decreased in April—may of the current year more than 100 thousand rubles and amounted to 770 thousand rubles, was evaluated by the experts of the United credit Bureau.
As explained by General Director of OKB Arthur A., reducing the average amount of loan over the past two months due to several factors.
“first, because of banks tightening lending policies, the share of loans with a minimum down payment has declined, while the share of loans with a large down payment — has grown. Accordingly, the borrowers took loans for smaller amounts. Second, in periods of instability, citizens begin to approach the consumption more efficiently and to purchase the car is called the “pocket” with a smaller amount of the loan financing. Finally, the statistics could influence regional factor: the most expensive cars sold in Moscow and St. Petersburg, as these cities acted in the most rigid quarantine measures, which led to the partial unavailability of motorcar showrooms”, — pointed out the expert.
Meanwhile, the Russians last month acquired approximately 62 thousand new cars, which was almost twice less than in the same period last year (118 thousand units). In January—may were sold in Russia 492 thousand new passenger cars — 17% less than in the same period last year, estimated by experts of “AUTOSTAT”.
“the fall of the market happening in the context of pandemic coronavirus, and the ensuing restrictive measures in the field of auto retail that occurred in April and may”, — stated in the analytical Agency.
the Committee of automakers Association of European businesses (AEB) has published its estimates according to which the sale of new cars and light commercial (LCV) cars in Russia fell in may 2020 51.8% yoy (after the collapse of the 72,4% in April and 4% growth in March) to 63,033 thousand units.
For the first 5 months of current year in Russia were sold 478,135 thousand cars and LCV (minus 25.7% in annual terms).
let’s Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.
may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19.
on 2 June Prime Minister Mikhail Mishustin reported on the nationwide state plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will amount to about 5 trillion roubles. 19 June, Putin was sent a revised draft of the national plan.
July 2, Deputy Minister of Finance of the Russian Federation Vladimir Kolychev said that the total cost of the measures (the bailout package), aimed at combating the spread of coronavirus infection in Russia and mitigating economic impacts from restrictions imposed, estimated to be worth about 4 trillion rubles. According to him, the main focus of the budget measures were made on several fronts: strengthening health systems, supporting citizens and businesses, the balancing of regional budgets.
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