The average amount of loans in Russia decreased markedly

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, estimated by experts of the United credit Bureau.

As explained in the overview, the 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 the showrooms,” explains 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 earlier this week, the 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).

Commenting on the results, Chairman of automobile manufacturers Committee AEB Thomas Starzel noted that “the showrooms of Moscow, St. Petersburg and most of the regional dealers were closed for the entire month.” “Technical centers were able to resume work, and, accordingly, the flow of customers began to grow. We expect that in June amid the easing of restrictions in most parts of the country the situation is slightly improved, which will positively affect the sustainability of the dealer network. Implementation of the first package of measures of state support will contribute to the gradual recovery of the market in the second half of the year”, — the expert believes.

Add that at the end of February the international rating Agency Investors Service Moody’s did not rule out a decline in sales of cars in Russia in the current year by 4%, “amid continued slow economic growth and lack of government stimulus”.

And at the end of April experts of the consulting company PwC did not rule out that the sales of new passenger cars in Russia by the end of this year may have fallen by 30% over the previous year to 1,142 million cars. In this scenario without taking into account stress factors for 2020 implies a decline of only 3.7% to 1.57 million vehicles.

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