MOSCOW, February 20. /Then 24/. The volume of loans for the purchase of a car granted to Russians in 2021 amounted to 963 billion rubles, the average size of a car loan reached 1.2 million rubles by the end of the year, reports sunday the newspaper “News” with reference to Equifax credit bureau data.
According to the publication, Russian banks issued 909,000 car loans in 2021, 16% more than in 2020. Meanwhile, the total amount of loans issued increased by 51% and approached the 1 trillion mark. rubles. Also last year, the amount of the average loan issued increased by 30% and stood at 1.2 million rubles.
According to Equifax CEO Oleg Lagutkin, this growth is due to the difficulties in producing and selling cars in 2020 due to the pandemic. In his opinion, consumers were in a hurry to buy cars before a possible shortage and manufacturers were raising prices. Lagutkin predicts that auto loan volumes will continue to grow for some time, but most likely consumer saturation will be reached by 2023, and metrics will reach the usual 9-10% increase per year.