Issuance of car loans in Russia increased by 16 in June%

Car loan issuance in Russia increased by 16% in June this year. This was stated on July 10 in a VTB study, which was reviewed by Izvestia.

According to VTB's preliminary estimates, in June, banks provided Russians with about 134 billion rubles to purchase new and used cars. This result is 16% higher than the results of May this year, but 38% less than in June 2024.

In general, according to the results of the first half of the year, the total market sales of car loans amounted to about 635 billion rubles, which is 46% lower than the result for the same period last year.

VTB itself conducted 9.6 thousand car purchase transactions worth 9.2 billion rubles in June, which is 9% higher in both number and volume than in May. Taking into account the work of the state program and subsidized programs of manufacturers, the main activity of borrowers continues to concentrate on the new car market: in June, VTB issued more than 55% of loans for new cars, the vast majority of such transactions (about 97%) were issued by borrowers for Chinese and Russian brands. By the end of June, the average loan amount was about 1 million rubles for the purchase of both new and used cars.

In total, in January – June, Russians received about 59.2 thousand car loans from VTB for more than 56.8 billion rubles. As in the market, the annual issuance of car loans in the bank has decreased significantly.

"In June, we saw a noticeable increase in car loans, which is largely due to the traditional seasonal increase in demand. Therefore, it is not necessary to talk about a reversal of the trend in the market yet. VTB will continue its balanced credit policy, striving to offer competitive conditions to Russians and focusing on the most in—demand segments - new cars of domestic and Chinese brands," commented Alexey Okhorzin, Adviser to VTB's Deputy President and Chairman of the Management Board.

Children's cars: The Ministry of Industry and Trade will expand the program of preferential car loans

Families with a child will be able to save 20-35% of the car price.

In May, experts said that one of the main reasons for the sale of a new car is the lack of financial resources for its maintenance. Also among the main reasons for failure are the owner's disappointment in the model and frequent damage to the car, which indicate its unreliability.