Car loans issuance increased by almost 60% last year in Bashkiria

More than 3,100 car loans were issued in Bashkiria in June, according to the National Bureau of Credit Histories. The growth in the number of car loans by May amounted to +2.2% and +59.4% by June 2022.

The average size of a car loan in Bashkiria in June amounted to about 1.243 million rubles. The amount has increased since May by 23.7% (or by almost 238 thousand rubles), compared with June 2022 - by nearly 22% (by 223.5 thousand rubles).

Experts explain the revival in the car market by an increase in sales, including new cars from friendly countries and foreign cars with mileage, as well as the resumption of the preferential car loan program.

According to the Russian Automobile Dealers Association, the price of cars increased by 13-15% over the year. The average price of a new car is now 2.6 million rubles (+13.5% y-o-y), with mileage - 1.3 million rubles (+9% y-o-y). The association points out that new cars worth from 1 million to 2 million rubles are the only AvtoVAZ cars without an automatic transmission.

According to the Avtostat agency, the average price of a used car in July amounted to about 1.42 million rubles. Over the year, they have risen by 15.8% or 193 thousand rubles.