Alexander S. Korshikov Industry Features of the Russian Leasing Market: the Passenger Cars Segment

DOI: 10.38050/2078-3809-2026-18-1-103-124

Abstract

This article analyzes the passenger car leasing segment, which holds a leading position in the Russian market with a 25.3% share of new business in the first half of 2025. The relevance of the study is determined by the key role leasing plays in fleet renewal in the face of limited investment resources. The objective of the study is to identify and assess the impact of industry and macroeconomic factors on the segment's development.

The study analyzes the market structure, growth drivers, and key risks. The methodology is based on econometric modeling, which allows for a quantitative assessment of the impact of macroeconomic and industry determinants on the formation of new business volume. The empirical analysis covers the period 2014-2024 and uses monthly data, providing a high level of detail in identifying short- and medium-term trends.

The thesis about leasing as a link between the financial and real sectors of the economy has been confirmed: the impact of both macroeconomic factors (key interest rates, fixed capital investments) and industry indicators (average vehicle age) on the segment has been demonstrated. The study's results offer market participants practical tools for adapting business strategies, adjusting product lines, and developing preventative support measures in the context of economic transformation.

Keywords: Passenger car leasing; Passenger car segment; new business volume; macroeconomic and industry factors.

JEL: G21, G23.

For citation: Korshikov, A. S. (2026) Industry Features of the Russian Leasing Market: the Passenger Cars Segment. Scientific Research of Faculty of Economics. Electronic Journal, vol. 18, no. 1, pp. 103-124. DOI: 10.38050/2078-3809-2026-18-1-103-124.

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