OREANDA-NEWS  There is a boom in car loans in Russia, and the volume of this market may continue to grow. Maxim Osadchy, head of the analytical department of the BKF Bank, told RIA Novosti about this.

According to the Bank of Russia, as of March 1 of this year, the volume of car loans issued was fixed at 1.82 trillion rubles, an increase of 47.7 percent over the past 12 months, the expert noted. The analyst predicted that the car loan market could approach 2 trillion rubles in June.

Statistics show that the car loan market is booming, Osadchy concluded. In his opinion, this trend may be related to the cooling of the mortgage market.

Since the beginning of 2024, deliveries of Chinese cars to Russia have increased — in January-April, exports increased by a third (plus 37 percent) compared to the same period a year earlier, to 237.1 thousand cars. In April, shipments from China increased to 79.4 thousand cars, which was a record high since November 2023. Russia remains the largest market for Chinese automakers with a share of 14.7 percent.