VTB forecasted a 10% reduction in demand for car loans in 2025

In 2025, individuals in Russia will receive about 1.5 million loans for the purchase of cars, which will be 10% below the results of 2024, reported in the press service of VTB on December 6. At the same time, they specified that due to the increase in the average "check" following the cost of cars, the volume of the auto loan market will be comparable to the result of 2024 at the level of Br2.1-2.3 trillion.

At the same time, the credit organization noted that against the background of high market rates, the tightened policy of the Central Bank and the increase in scrappage duty, the car loan market began to cool down sharply in the second half of this year. According to preliminary estimates of the bank, in general for the IV quarter, the volume of such loans to Russians may decrease by July - September by one third. At the end of the whole 2024, it is expected that the issuance will be at the level of 2.3 trillion rubles (+53% to 2023). Almost half of these car loans Russians will take for the purchase of new cars.

"The main share of credit sales next year will still come from the Chinese car industry. The realities of the market are such that we should not expect a decrease in the cost of cars, as well as interest rates on loans. However, in December-January it will still be possible to make a favorable deal, mainly in the market of new cars. At the end of the year to the state support and subsidized programs will add discounts dealers who will seek to "close" the year, and at the beginning of the next year at the hands of buyers will play the effect of "last year's" car," - said the head of the department "Car Loans" VTB Alexei Bocharnikov.

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Earlier, November 28, it was reported that for 10 months of 2024 in Russia was issued auto loans worth 2.02 trillion rubles. This follows from the data of the National Bureau of Credit Histories (NBKI). The largest volume of issued car loans was observed in Moscow (Br160.3 billion), Moscow region (Br134.2 billion), St. Petersburg (Br100.5 billion), the Republic of Tatarstan (Br94 billion) and Krasnodar region (Br90.6 billion).

According to Alexei Volkov, Marketing Director of NBKI, the growth dynamics is due to the effect of low base due to the shortage of new cars in 2023. At the same time, after the "record" issuances of March-September 2024 in October, this indicator has significantly decreased.