The Bank of Russia (CBR) has lowered the key rate from 18% to 17% per annum. Experts consider this a positive signal for the car market, but further reduction is necessary for a significant part of it, surveyed car dealers told RIA Novosti.
The "Rolf" company expects an increase in consumer sentiment and demand for credit products.
"Avtodom" noted that the cost of car loans is unlikely to change in the near future due to the slowness of banks in reducing rates.
According to Avilon specialists, the key rate should fall by another 3-4% for the car market to recover noticeably.
The head of the Central Bank of the Russian Federation, Elvira Nabiullina, emphasized that there has been a revival in car lending and passenger car sales in recent months.
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