Car loans entered into a rut

The desire of Russians to fast driving once again played into the hands of automakers and bankers. At auto shows last year returned to the queue, and the Russian market again became one of the most attractive in Europe for automotive companies. For example, some of the Renault brand of all is now 3-4 months, told a "F." in the showroom, "Avantaym." No less excitement in running the model and other producers (in particular, Chevrolet, Ford and Mazda), do not hide dealers. The reason is clear: according to the European Business Association, in 2010 Russia had sold 1.91 million new cars and light commercial vehicles. Growth compared to last year amounted to just 30%! Ferris wheel. It is estimated the agency "Autostat" in 2010, credit has sold over 600 thousand cars. It is in the auto loan segment unfolded the most fierce battle for customers among financial institutions - banks have been necessary to build up portfolios. "The struggle in the market for any borrower in any acute sector - ranging from mass brands and buyers of luxury cars finishing", - says Andrey Kochenkov, head of the federal project management UniCreditBank car loan. "After the crisis, banks relied on this segment because of relatively low risk of defaults on car loans, as well as by the presence of pent-up demand for cars and the restoration of the labor market", - says Sergey Kostyukov, Deputy Head of Retail Bank "Discovery." Credit institutions are to make serious concessions to customers canceling and reducing the commission rate (up to 12-14% per annum). Increased time: you can now get a loan for up to five years, said Stanley Root, head of practice in providing Automotive Industry PricewaterhouseCoopers, in his "Review automotive market." However, with the return of almost pre-crisis access to auto loan back and the old problems - for example, the queue for popular models of cars. Many of the banks for this reason had to extend the positive decision on the car loan for up to four months. "Factor queues can reduce the current momentum of growth of loan portfolios of most banks and become a serious obstacle to the rapid growth of the market of car loans in 2011, - says Sergey Kostyuk. - The prerequisites for this are: foreign automakers are cautious with increasing volume limits for vehicles of the Russian market, fearing a repetition of the history of the first half of 2009, when the proposal as a result far exceeded demand. Dealers, in turn, did not want to risk increasing the cost of renting warehouse space. " Deficit, most likely not be avoided. "But there is one" but "", - said Sergey Kostyuk. - Producers learn from their mistakes, they are also important, balancing between risk and profit, not lose the momentum of sales, which was outlined in May 2010. So got stronger competition in the market and dealers closer partnerships with banks to help balance the supply and demand for popular brands of machines. " The balance of power. Now among the leaders in auto loans - Savings Bank, VTB 24 Rusfinansbank and in the back they breathe UniCreditBank, "Raiffeisen" and intensified Credit Bank of Moscow (the latter portfolio growth in the first half of 2010 amounted to more than 2000%). For obvious reasons, most of the market belongs to the banks participating in the program of state support Russian automakers. The program compensates for concessional lending to state two thirds refinancing (is now 7.75%), the bank issuing the credit-schemu to buy cars assembled in Russia the maximum value of 600 thousand rubles. This category includes all models of "AvtoVAZ" as well as Renault Logan, Ford Focus (the most popular foreign car in Russia), Opel Astra, Skoda Octavia, Skoda Fabia, Chevrolet Niva, Fiat Albea, Volkswagen Polo, Volga Siber and UAZ Patriot. Initially, the action of the state program was limited to the year 2009, but in February 2010 it was extended for another year. Just did and this time - two weeks ago, it was decided to prolong the year 2011. According to the Industry and Trade, last year was granted nearly 150 thousand of these loans (2009 - 71.4 thousand). At the same figures in the ministry and hope to this year. The popularity of the state program due to the fact that it has reduced the costs of borrowers to service the loan, which was a decisive factor against the proposal banks on cars, not included in the state program. "Largely due to her over the last year, a large number of their own loan programs auto manufacturers, models which do not fall under the measures of state, as well as improved supply of banks", - says Andrey Kochenkov. That joint programs with automakers and pulled out a car loan last year from the "coma", say the experts now. In 2010, according to Managing Director of "RN Finance Rus" Irene Zguralskoy, every third car Nissan sold on the program Nissan Finance, and in St. Petersburg on the program "goes" in general, 40% of the automaker's vehicles. Shoppers can understand - the rates on such loans is much lower than the average. For example, a loan program now Nissan Finance on cars Tiida, Note and Quashqai is only 2.9%. Prospects for re-growing market did not escape the notice of major international automakers have long working through their own banks around the world. In late November 2010, Russia launched the Volkswagen Bank plans to open its own bank and concern Renault-Nissan (now it implements its programs through the "UniCredit"). Among the pioneers of the Russian market - Concern Mitsubishi («Bank of Tokyo-Mitsubishi YuFDzhey (Eurasia)" appeared in Russia in 2006), then their financial institutions opened a Toyota, Mercedes-Benz, BMW, Daimler and Peugeot-Sitroen (bank "PSA Finance Rus'). It turns out they have a good idea: for example, in the first half of 2010, BMW and Toyota Bank Bank were in the top 10 lending institutions in terms of extended loans. The popularity of captive banks due to the fact that they are always ready to offer the most interesting conditions for clients as part subsidized by the automakers. In addition, this program makes a car dealer discount on the amount that the borrower must pay on the loan as interest. Therefore, the proportion of new cars BMW, sold through its "own" the bank is over 80% of all credit sales of the brand. Rather rosy outlook and the bank, which will belong to Renault-Nissan, - these brands are quite popular in Russia. And in a growing market, even parting with the RN should not be a tragedy for UniCreditBank. The credit institution must diversify its portfolio - now, in addition to Renault, UniCreditBank is a partner of Porsche (growth of sales car brands in Russia in 2010 amounted to 24%), and also has a partnership program with Jaguar and Land Rover. In a similar situation a few years ago has turned out to be "Raiffeisen" who worked with Toyota to create the Toyota Bank. Now the bank is working closely with General Motors and remains among the leaders in the market for car loans. Changes in preferences. During the crisis, from a list of the most popular cars fell significantly reducing its share in sales, mid-priced brands (Mitsubishi, Opel, Mazda), experts say. Among the cars, most often bought on credit, the top positions were for the budget segment cars (Chevrolet, Kia, Daewoo, «Lada»). In particular, the growth segment of the Russian brands, according to estimates PwC, was about 44% in terms of quantity and 62% - in cash. First of all, this was due to the recycling program. About 80% of all cars sold under this scheme are the products of "AvtoVAZ" (see "The most popular cars in 2010.") Also, a stable position, despite the crisis, preserved in premium cars - Audi, BMW, Lexus. "Now there is a trend to increase lending in favor of the middle grades and a more expensive car segment. That, in our opinion, due to the more stable position of these borrowers: they take credit - means confidence in the future ", - says Andrey Kochenkov. Confidence of borrowers actually continues to grow: analysts believe that this year the market for car loans will add another 20-30%. Thus, the Agency experts "Autostat" believe that Russia will sell 2.5 million vehicles (31.5% more than in 2010). Growth will contribute to the recycling program and the growth of the economy as a whole. Automakers themselves are modest - at "AvtoVAZ" talk about the market growth of 21%, and forecasts the European Business Association predict market growth of 18% (up to 2.24 million vehicles sold). However, it seems most of the "pie" will get state banks and financial institutions, and owned automotive companies. For this reason, some Russian banks involved in car loans before the crisis, now do not have to renew the granting of loans to buy cars. But there are those who are not going to give up. "The average bank took an active right now, sometimes even aggressive stance: they began to produce programs for different groups of clients, consider their positive credit history, to simplify the conditions for obtaining the loan, - says Sergey Kostyuk. - The effect was immediate: the volume of loans increased. State Bank is not always profitable "in-zitsya" with the client. And then, one can not discount niche offers, like loans to buy used cars. " State banks to develop such programs are not always interesting, and the clients they demand no less than the loans on new cars, experts believe. Cars - sales leaders in 2010, Mark number of cars sold growth,% Lada 517 147 116 233 11 48 Chevrolet Kia 104 235 96 466 33 49 Renault 10 Ford 90 166 According to the agency "AUTOSTAT" The most popular cars in the 2010 Brand The number of sold cars Lada 2105/2107 136 006 Lada Priora Lada Kalina 125 235 108 989 101 958 Lada Samara Ford Focus 67 041