The volume of car loans last month exceeded the values of last year, the rapid recovery contributed to pent-up demand, formed during quarantine restrictions. But the only real point of growth in the lending segment is used cars, experts say, and in the coming months as pent-up demand will be saturated, may be followed by stagnation. To support the market can only state program of concessional lending, according to bankers.According to United credit Bureau (OKB; features including data Bank), borrowers in June took of 58.9 thousand credits 47.3 billion rubles Number and volume of loans compared to the previous year increased by 7% and 2% respectively. Thus, after a two-month break, the segment showed a positive trend. In April and may the number and volume of issued loans was five and two times less than a year ago. “The issuance of loans is gradually growing in the first week of June, and remained consistently high in the remaining weeks of the month”— the General Director of OKB, Artur Alexandrovich. In Cetelem Bank said: “the June figures exceeded even our March issue, when the market had recorded a sharp demand for automobile loans in connection with the uncertainty caused by the spread of coronavirus”.Bankers believe that the June increase was caused by pent-up demand, which was formed during the isolation mode, resume, auto and increase the availability of loans amid the easing monetary policy of the Central Bank. The full cost of credit (PSK) is currently close to the minimum values. In June, this figure was 14.2% per annum. Similar values were in 2017 to June 2019 PSK is 15% per annum. Stimulated demand for cars and the state. “One of the main drivers of growth in demand for loans was the launch of the state program of preferential car loan, in which the maximum price of the car was increased to 1.5 million rubles,”— noted in Cetelem Bank. “Among the negative factors revealed a trend of shortages of vehicles for a number of brands at dealers, which is particularly felt in the premium segment”,— said the Director of the Department of autocrediting of Rusfinans-Bank Alexey Borodavin.In June, there was not only a rebound and realization of pent-up demand, but also the realization of a new trend. As a result of the pandemic some people disappointed in public transport and car sharing, part — moved out of town, so a certain percentage of clients to return to the paradigm of personal ownership of vehicles, says CEO Frank RG Yuri Gribanov. While currently, the demand is shifting to the segment of used cars, he says. “AVIacreditare is one point of growth, the lending market used cars. If the lending of new cars is close to saturation, now ranges from 50% to 60%, the share of sales of used vehicles — about 30%. In this business, banks can increase the volume, as for many people currently, the new cars road. And the banks in this segment goes,”— says Mr. Gribanov. GCF-Bank also confirms that significantly increased the demand for credit products in the segment of used cars. As a result the average loan amount in June decreased by 5% to 804 thousand rubles, but the average loan term increased to 47.3 months — one of the highest rates beginning in 2016.However, interlocutors “” do not expect further rapid growth of the market in the coming months, there may be a stagnation due to problems with the demand for cars. Problems with the presence of liquid vehicles and the rising cost of new cars will have a negative impact on the amount of available market, enter into GCF-Bank. Car sales volume for the year may fall, expects Mr. Gribanov, and with them the decline can show and car loans. Mr. Borodavin connects the recovery of demand with the continued effectiveness of market-supporting government programs of preferential car loan. “The results of June, we should not cheat and give false hope,” concludes Mr. Gribanov.Olga Cherenkova
