High demand from consumers took auto-financing to a record high of Rs285 billion during March, an increase of 30 percent year-on-year or Rs66 billion, Director Topline Securities Mohammad Sohail said on Monday.
According to the stats issued by the State Bank of Pakistan, he added that auto-financing witnessed the highest monthly increase of Rs12 billion or 4.5pc month-on-month in March.
As on Feb 28, 2021, auto-financing had hit an all-time high of Rs273bn, he added, attributing the boom in car financing to low-interest rates at 7pc this year compared to 13.5pc in March 2020.
While car prices have gone up substantially, buyers are more interested in picking up cars through cheap bank financing owing to low interest rates.
