The Russians took a record number of car loans in April

The number of car loans issued in Russia in April increased to a historical maximum and amounted to 93.8 thousand loans, according to the credit bureau Equifax. At the same time, the average check decreased by 3%, the reason for this could be a shift in demand towards more budget models.

The average credit limit decreased for the first time since the beginning of the year – by 3%, to 970.7 thousand rubles, and the volume of loans issued in April increased by 12.2%, to 91 billion rubles, beating the historical maximum. The number of active loans for the purchase of cars in April increased by 1.5%, their total volume increased by 2.7%, to 946.1 billion rubles.

“A slight decrease in the average amount of a car loan in April compared to March is due solely to the large volume of loans issued, which has shifted towards a more budget segment,” the bureau reported (quoted by RIA Novosti). Moreover, over the past few months, more than 60% of loans were issued for the purchase of new cars.

According to Avtostat, about 549,000 used cars were sold on the Russian market in April. This is 118% higher than the result of 2020 and 13.8% more than in April 2019. Lada remains the leader, followed by Toyota, Hyundai, Kia and Nissan.

More details about the demand for used cars – in the material of “Kommersant” “Russians are hooked on proven”.