Krasnodar, 24 July – Yug Times. Krasnodar Krai has entered the top five Russian regions in terms of the number of issued car loans.
In June, 6,050 car loans were issued in the region. This was 1.8% less compared to May, the National Bureau of Credit Histories' (NBCH) study says. The biggest number of car loans were issued in Moscow city (8,110, -0.1% compared to May), Moscow region (8,020, 0%), and Republic of Tatarstan (6,630, -7.7%). "Despite a slight decline in June, the pace of car loan issuance remains quite high. All sorts of promotions and discounts from distributors, subsidised rates from car manufacturers, as well as general consumer activity of citizens continue to keep the demand for car loans at a high level. At the same time, high interest rates very modestly restrain the growth in car loans. Therefore, in order to cool down the car loan market, macroprudential restrictions were introduced from 1 July 2024,’ said Aleksei Volkov, Marketing Director of NBCH.
According to the expert, some of the most debt-laden borrowers may abandon auto lending due to the introduction of macroprudential restrictions.
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