The expert assessed the impact of the reduction in the key rate on the Russian car market

The reduction of the key rate from 15.5% to 15% per annum, announced by the Bank of Russia on March 20, is unlikely to have a significant impact on the country's automotive market and car loans. Daniil Shkurygin, Commercial Director of <url>, shared this opinion with Izvestia.

"Another reduction in the key rate by 50 basis points indicates that the peak of inflationary pressure has been passed, according to the Bank of Russia, however, the risks of a new price acceleration are still significant. The restrained steps of the regulator limit the revival of activity in the car loan market," said Shkurygin.

So, according to eCredit, from January to February 2026, the average rate on car loans for new cars in Russia increased by 0.3 percentage points (pp) to 11.1%, and the average price of a new car increased by 1% and amounted to 2.77 million rubles. At the same time, the percentage of approval of car loan applications in early 2026 increased to 73%, the expert noted. The total amount of loans issued increased to almost 19 billion rubles (+16.5%), and the average amount of car loans reached 1.88 million rubles (+3% in February compared to January).

In the segment of used cars, the overall approval rate for car loan applications at the end of winter 2026 remains at 62%, while the total amount of loans issued jumped to 11 billion rubles from 8.7 billion rubles in January. The average car loan rate for a used car in February was slightly below 22% (-0.2 percentage points compared to January), and the average car loan amount exceeded 1.53 million rubles (+8%), and the average cost of a used car increased by 8% to 1.9 million rubles, Shkurygin shared.

While the Central Bank is hitting 12: in 2026, the key rate will remain in double digits

It will not be reduced quickly, even though inflation is close to the target — is it worth carrying money for a deposit or buying an apartment

According to the Central Bank's forecast, taking into account the current monetary policy, annual inflation will decrease to 4.5-5.5% in 2026, and stable inflation will be near 4% in the second half of 2026. In 2027 and beyond, she will be on target.

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