Car loan issuance is decreasing in Russia. What is the reason
The volume of car loans issued by banks in Russia has decreased. This was reported on Thursday, July 10, by the VTB press service.
VTB alone issued 9.6 thousand car loans in June for a total of 9.2 billion rubles. At the same time, more than half of the loans (55%) were issued for the purchase of new cars, and about 97% of them were for Chinese and Russian cars. The average car loan size at the end of last month was about 1 million rubles.
“In June, we saw a noticeable increase in car loan issuances, which is largely due to the traditional seasonal increase in demand. Therefore, it is too early to talk about a reversal of the trend in the market. VTB will continue its balanced credit policy, striving to offer competitive terms to Russians and focusing on the most popular segments – new cars of domestic and Chinese brands,” said Alexey Okhorzin, Advisor to the Deputy President and Chairman of the Management Board of VTB.
Earlier, dealers predicted sales of new cars in Russia in the second half of 2025. The demand will be influenced by the Central Bank's key rate, as well as state credit and leasing programs.
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Source: Avtonovostidnya
