Auto-financing hits all-time high of Rs285bn
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.
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While car prices have gone up substantially, buyers are more interested in picking up cars through cheap bank financing owing to low interest rates.
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