The number of issued car loans has increased in Russia

At the end of June 2020, Russian borrowers took 58.9 thousand car loans totaling 47.3 billion rubles. This was reported on the website of the United Credit Bureau (OKB). Thus, the number and volume of loans issued for the purchase of cars compared to last year in Russia increased by 7% and 2%, respectively. It is worth noting that in April and May of this year the number and volume of car loans issued were five and two times less than in 2019. The issuance of car loans gradually grew in the first week of June and remained steadily high in the remaining weeks of the month, said OKB Director General Arthur Alexandrovich. In turn, Setelem Bank noted an excess of June indicators for issuing car loans over March ones. According to representatives of the bank, June growth was influenced by deferred demand, which was formed during the self-isolation regime, as well as the launch of a state program of preferential car loans. Recall that from January to June 2020 in the Russian Federation, the share of new Hyundai cars sold on credit reached 55% of all brand cars sold. In just six months, about 27 thousand Hyundai models were bought on loan in Russia. See also: US resident accused of misappropriating about $4 million