ANALYSIS OF THE CURRENT CAR LOAN MARKET

Abstract

The article is devoted to the economic content of the term “car loan”, to the identification of its specific features in relation to consumer credit, as well as to the analysis of the current Russian car loan market. In the course of the study, the authors found that many Russian economists and scientists devoted
their scientific works to the issues of studying automotive industry due to these issues circulating in the sector of bank services for a long period. However, economists’ works differ in defining the term “car loan”. The majority of scientists define the car loan industry as a part of the consumer credit market. In the course of the study, the authors give their own definition of the economic category of car loan and compare it with the category of consumer credit. Based on the statistical data from various news agencies, the car loan market was studied using the analysis of such indicators as the volume of car loans issued, the level of expected real incomes of citizens, and the share of the car loan market in the total loan portfolio of commercial banks. The results of the study showed that the car loan market plays a crucial role both for the Russian economics and for the banking sector. The authors propose that in the future there will be a trend towards an increase in the share of car loans in the Russian market and an increase in their availability for the population due to the government support programs and high competition among commercial banks.