The auto expert explained the reasons for the reduction of the Russian car market

One of the main reasons for the decline in new car sales in Russia this winter was the high interest rates on loans. In addition, banks have new responsibilities to create reserves in case of possible risks associated with non-fulfillment of loan obligations by borrowers. The director of development and sales of Avto told Izvestia on March 10.<url> Business" Daniil Shkurygin.

"We also see a tendency for banks to take a more thorough and rigorous approach to assessing potential borrowers, which is reflected in the share of loan approvals. So, according to our eCredit platform, the probability of approving car loans decreased by 7 percentage points for new cars and by 9 percentage points for used cars," said Shkurygin.

As a result, car loans become more expensive, and for those who are willing to take them, despite the rates, it is more difficult to get approval from banks, the specialist explained. Thus, this leads to a decrease in the number of car loans issued, which, in turn, negatively affects the entire market, since car loans are a key driver stimulating new car sales, he stressed.

Zhduny brought down the car market: sales of new cars fell by a quarter

Expensive loans and the expectation of brands returning to Russia have reduced demand for cars

On March 6, analysts at Autostat said that 78,040 new passenger cars were sold in Russia over the last winter month, which is 24.9% less than in February 2024. Lada remains the most popular brand, with its share rising to 31%.

Prior to that, on March 4, the Ministry of Industry and Trade of the Russian Federation reported that sales of new passenger cars in January-February 2025 in Russia amounted to 165.9 thousand units, which is 10% less than in the same period last year. Separately, 77.3 thousand new passenger cars were sold in February, which is 25% less year-on-year.