The Ministry Of Industry And Trade Spoke About The Popularity Of Preferential Car Loan Programs

2023 Author: Natalie MacDonald | [email protected]. Last modified: 2023-05-21 02:36

The head of the Ministry of Industry and Trade Denis Manturov announced the number of cars sold this year using preferential car loans. As the agency "Prime" writes, the volume of such sales allowed the minister to talk about the demand for subsidies among Russian buyers.

• In January and February of this year, more than 42.5 thousand cars were sold using concessional car loans, while about 7.1 thousand buyers resorted to using concessional leasing. According to the minister, government subsidies to the Russian car market provide substantial support to Russian and localized foreign car manufacturers.
• In total, in 2021, the state plans to allocate 8.9 billion rubles to subsidize loans for the purchase of cars under various programs. Meanwhile, in mid-February, it was reported that at least two programs were stopped, but not by order of the authorities, but by the initiative of banks. Financial institutions have already spent the allocated money, but have not received new funds.

• According to TASS, the average car loan in Russia in January increased by 13.4% compared to the same month last year and amounted to 907.8 thousand rubles. At the same time, the largest loans were taken by Muscovites: in the capital, the average buyer of a car on credit borrowed 1,368,300 rubles from a bank. In the National Bureau of Credit Histories, such activity of Russians was associated, firstly, with the operation of concessional lending programs, and secondly, with the expectation of further growth in car prices.