The expert called the consequences of lowering the key rate for the Russian car market
Lowering the key interest rate by the Central Bank of the Russian Federation may become a growth driver for the Russian car market. The decline occurs for the second month in a row, which forms a trend that may turn out to be a trigger for consumer activity. Olga Boyko, Director of the Financial Services Department at Rolf, shared this opinion on July 27.
"Of course, the 18% rate will still be high for both consumers and businesses. But the trend indicated by the Central Bank is encouraging. We will continue to carefully analyze the situation with the car loan market, but, according to our forecasts, it will soon begin to "react" to a reduction in the key interest rate," Rossiyskaya Gazeta quoted Boyko as saying.
Earlier in the day, the Central Bank of the Russian Federation lowered its key rate to 18% per annum. Inflationary pressures, including sustained ones, are decreasing faster than predicted, the regulator's press service said. It is noted that further decisions on the key rate will be made depending on the sustainability of the slowdown in inflation and the dynamics of inflation expectations.
According to the results of the first half of 2025, Russians purchased 530.4 thousand new passenger cars, which is 26.3% less than the results for the six months of last year.,
On July 25, KAMAZ announced the transition to a one-day reduced working week from August 1, including due to the lack of market growth prospects, and Gorky Automobile Plant announced a similar decision the day before.
Prior to that, on July 22, AvtoVAZ announced that it was also considering switching to a four-day working week. The automaker cited the high key rate and stricter regulatory requirements for car loan borrowers as the reasons for the difficult market situation.
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