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

The decision of the Central Bank of the Russian Federation to reduce the key rate to 17% is a positive trend in the new car market. Against the background of the gradual weakening of the ruble, a decrease in the attractiveness of deposits may contribute to an increase in consumer interest. Konstantin Boldyrev, head of business development for B2C lending at Avito Avto, told Izvestia on September 12.

"At the same time, the credit conditions for new cars themselves were very profitable before that — manufacturers subsidize loan rates, thanks to which, for some popular brands, more than 70% of new cars were sold on credit in August. Now is a very good time when you can get a favorable loan offer, and the change in the exchange rate has not yet affected the cost of the car itself," said Boldyrev.

As for the used car market, the rate cut primarily gives optimism to dealers who need to finance the turnover of cars in warehouses — the current percentage is still high for businesses, but the trend is encouraging, the expert shared. Reducing interest rates on loans will allow dealers to provide consumers with more favorable conditions for purchasing used cars, the expert believes.

According to the results of the last month of summer, 122.2 thousand new passenger cars were sold in Russia. This is 1.3% higher than in July, but 17.6% less than in August last year.

We found a balance: sales of new cars increased by 1.3%

The car market showed moderate growth in August

On September 12, the Central Bank of the Russian Federation lowered its key rate to 17% per annum. The economy continues to return to a balanced growth trajectory, lending growth has intensified in recent months, and inflation expectations remain high, the Central Bank said.

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