Financial news

Automobile Lending Cutback Four Times

01 июня 2009 г.

The Russian market of automobile lending has rolled back to approximately five years ago – to the size of 2004 when the credit boom just only began. It is reported by the marketing agency “AUTOSTAT”. It is also marked, that till August, 2008 auto loans had been the locomotive of the whole Russian automobile market. There were credits which promoted both quantitative and monetary sales of new cars had been growing quickly enough. So, if in 2004 there were 350 thousand cars bought on tick, by the year 2007 this segment volume grew three times and even more and was amounted to more than 1 million units. The first half of the year 2008 also was very favorable for growing of automobile lending. But last autumn the situation reversed. Banks smoothly started raising rates and toughening terms for drawings, and subsequently sharply reduced the limits of crediting.

» к списку

 

Read more