The share bought on credit of machinery reached a record since the...

The share bought on credit of machinery reached a record since the crisis began


Photo: Maria Ionova-Gribina for RBC

Share of credit purchase passenger cars in the third quarter of 2016, the highest rate since the beginning of the crisis. The volume of new car market continues to decline

In the third quarter of 2016, the share of new cars purchased on credit, amounted to 46.4%. This is the highest figure since the beginning of 2014, follows from the joint research of the National Bureau of credit histories (NBCH) and the analytical Agency “AUTOSTAT”, received RBC.

Despite a slight decrease in rates of crediting in comparison with the previous year, their share in the structure of the car market has been growing steadily in the third quarter of 2016 reached record values, says General Director nbki Alexander Vikulin.

According to the study, in the second quarter, the share of credit purchase new cars were 43.6% in the first quarter is 37.3%. Thus, for the first 2015 quarterly index did not exceed 45% and in 2014 — 40%.

Just for the third quarter of 2016, the loan was purchased 146,7 thousand cars, which is 10.8% more than in the second quarter. Since the beginning of the year, according to the study, so it was purchased 887,8 thousand cars, which is 8.5% lower than the same period in 2015 (969,8 thousand units).

The volume of car sales for the first three quarters of the current year is lower than last year, said Executive Director of the analytical Agency “AUTOSTAT”, Sergei Udalov. “Record” the growth of “credit” cars in the market structure in this case is largely due to the implementation of the state program of subsidizing of auto loans, and information about the possibility of early completion,” he says.

Udalov noted that the loans for the banks remains one of the most attractive retail banking products, and for the citizens — one of the most accessible ways of buying cars.

The state program of subsidizing of auto loans (the program of preferential car loan) was launched in 2009 and renewed in 2016. Under this program, the state compensates to the Bank that issued the loan, 2/3 of the refinancing rate. The interest rate for the borrower’s subsidized loan is calculated as the difference between the current rate of Bank loan and 2/3 of the refinancing rate of the Central Bank on the date of issuance of the loan.