Auto financing hits all-time high
Consumer appetite to purchase cars financed by banks grows due to low interest rate
The demand may continue to ramp up in the wake of offer for car financing to non-resident Pakistanis for their family mem-bers in the country recently. PHOTO: FILE
KARACHI:
Auto financing by banks hit an all-time high of Rs297.5 billion in Pakistan as consumers’ appetite for owning a vehicle shifted to top gear apparently due to availability of the financing at comparatively low interest rate despite the Covid-19 pandemic related financial risks.
The euphoria to own a car soared to a new peak in the backdrop of introduction of new models and brands by new entrants especially in the category of cars of or above 1,000cc engines and jeep (Sports Utility Vehicles/SUVs) segments.
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