Sverdlovsk Region: Number of Car Loans Up 8.2% in January

1 March 2019 (09:34)

UrBC, Yekaterinburg, March 1, 2019. Sverdlovsk Region-based banks issued 1,773 car loans to local applicants in January 2019, which exceeded the figures for one year earlier by 8.2%, the National Credit History Bureau’s press service reports.

In Russia on the whole, the number of new car loans came to 49,400 in January 2019 (up 7.7% on January 2018).

‘Even though the number of car loans rose this January compared with January 2018, the increase was still less prominent than in the year 2018 on the whole. This mostly has to do with the fact that state-subsidized car buying programs came to an end throughout most of the country last year; the programs used to support the car making industry greatly and boosted sales. As a result, the number of car loans issued in some of the major constituencies in the European part of Russia went down for the first time in many months. However, the state-subsidized programs will get renewed starting March 1, 2019, which is bound to result in better car sales,’ says the Bureau’s Marketing Director Alexei Volkov.

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