Share of loans for Russian cars quadrupled in 2022
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At the end of 2022, 42% of car loans issued for the purchase of new cars fell on Russian brands. The indicator has quadrupled compared to 2021, follows from the data of Auto Discovery. The most popular among Russians was the purchase of Lada. At the end of 2022, car borrowers mainly purchased Lada Granta, Hyundai Creta, Lada Niva, Hyundai Solaris and Kia Rio.
26% of car loans were for Korean cars, 13% for European cars, 12% for Chinese cars, and 7% for Japanese cars. The share of American cars was less than 1%. In 2021, the largest number of car loans were issued to Korean brands – 50%. The share of Russian brands in 2021 was 9%.
In 2022, the total share of AvtoVAZ in Russian auto retail was 27%. The main sales volume of the company is brought by Lada Granta.
According to experts, in 2022, borrowers most often purchased used cars. Their share was 60%. The top five most popular credit models in this segment include Kia Rio, Hyundai Solaris, Lada Granta, Lada Vesta and Volkswagen Polo. Otkritie Avto notes that demand in the secondary market is consistently high, but there are fewer samples of this segment.
At the same time, in the second half of 2022, the share of car loans for new cars increased. This happened against the backdrop of the introduction of a program of preferential car loans. In this segment, the most popular were Lada, Hyundai, Kia, Haval and Renault.
Otkritie Avto stressed that the shortage problem remains relevant in Russia. Parallel imports, experts say, will not be able to replace the departed brands. By data Association of European Businesses, in 2022 the Russian car market decreased by 58.8%. This happened against the background of problems with the logistics of supplies and sanctions. A number of large foreign auto concerns, including Renault, Nissan, Toyota, Mercedes-Benz, ceased their activities in Russia. To date, production in Russia continues AvtoVAZ, UAZ, GAZ and Chinese Haval.
Read more about the consequences of 2022 for the Russian car market in the Kommersant publication “Breaking into Parts”.
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