Possible consequences of the decision of the Central Bank to maintain the key rate for the car market

Expert Olga Boyko in an interview with RG.RU said that the decision of the Central Bank of the Russian Federation to maintain the key rate at 14% remains neutral for the automotive industry due to the fact that the financing conditions for buyers do not change, and it does not create new incentives for demand.

As noted by the interlocutor of the publication, deals in car loans are at a stable level, which is supported by joint programs of banks, dealers and automakers. The expert stressed that first of all, this is noticeable in officially presented brands in Russia, where the buyer can use subsidized financial products.

Boyko drew attention to the fact that most of the market rates still depend on used cars and alternative and parallel import cars. The speaker explained this by the fact that subsidized programs in these segments are much less, and the cost of credit for buyers is formed on market terms. According to the expert, for these segments, a reduction in the key rate would make the purchase more affordable, but as long as the rate remains at the same level, no noticeable changes are expected.

The interlocutor of the publication added that the market has already adapted to the current level of rates, and in the near future the main support for demand will continue to provide special loan offers of banks and automakers.