Tatarstan in top 3 in number of car loans issued in November

In November 2023, Tatarstan was in Russia’s top 3 regions in number of car loans that were issued. The republic was outperformed by Moscow and Moscow Oblast, reads the data of the National Credit History Bureau.

In November, Tatarstan residents took out 3.593 car loans. Compared to the previous month, their number reduced by 7.9%.

In Moscow, there were issued 4.595 car loans by late autumn, which is 12.2% less than in October. Residents of Moscow Oblast took out 3.930 loans in November to buy a car, which is 14.5% less than during the previous month.

The smallest number of car loans among 30 Russian leading regions was in Altai Krai — 733. Compared to October, their number reduced by 7.3%.

According to 3.000 creditors’ data coming to the National Credit History Bureau, 73.600 loans were issued in Russia. Compared to October, their amount declined by 8.4%.

“A decline in car loans in the last months likely confirms that there is some satisfied demand, which was not fully met in 2022, and, consequently, about some stabilisation in the car loan marketing. Also, the rise in car loan rates in the last months shouldn’t be disregarded,” said Marketing Director of the National Credit History Bureau Alexey Volkov.

It should be reminded that in 10 months of 2023 there was set a record in number of car loan issue in Russia in history — Russians borrowed over a trillion rubles. At the same time, Tatarstan left the top 4 regions in number of car loans finishing fifth.