Auto financing jumps by 38% YoY to reach Rs354bn as of December

News Image

By MG News | January 18, 2022 at 05:47 PM GMT+05:00

0:00

January 18, 2022 (MLN): Amid higher consumer demand, auto-financing surged to Rs354billion by the end of December 2021, an increase of 38% YoY, as it was Rs262bn in Dec 2020, Central bank data showed.

Compared to the previous month, car financing volume inched up by only 1.30% from Rs349bn in November 2021 as consumers’ appetite for owning a car decreased slightly due to the higher interest rate of 9.75%.

By the end of FY21, auto-financing stood at Rs308bn compared to Rs211bn at the end of FY20, showing a growth of 46% YoY.

Similarly, the sale of passenger cars surged by 2x YoY to clock in at 24,462 units during the month of December 2021 as compared to 11,247 units sold in December 2020. This took 1HFY22 volumes to 114,765 units, recording robust growth of 71% YoY led by tax relief announced in the FY22 budget, the launch of new models, and pickup in overall economic activity.

Going by the data,  for house building, banks’ financing stood at Rs143bn by the end of December 2021, a jump of 67% YoY when compared to December 2020 mainly due to mainly SBP’s measures to promote housing and construction of buildings in the country.

 

Copyright Mettis Link News

 

 

Related News

Name Price/Vol %Chg/NChg
KSE100 131,169.71
63.87M
0.37%
483.05
ALLSHR 81,645.78
307.40M
0.42%
340.52
KSE30 40,113.85
28.72M
0.42%
168.40
KMI30 191,231.55
33.33M
0.28%
533.50
KMIALLSHR 55,156.66
149.69M
0.15%
82.51
BKTi 34,965.48
4.82M
1.15%
397.09
OGTi 28,595.77
2.67M
-0.50%
-143.58
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,425.00 110,525.00
109,375.00
-990.00
-0.90%
BRENT CRUDE 68.56 68.89
68.42
-0.24
-0.35%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 108.45 109.80
108.45
-0.55
-0.50%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.87 67.18
66.72
-0.13
-0.19%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 04, 2025 at 11:24 AM GMT+05:00

Pakistan calls for credit rating reform at UN FFD4 summit


July 04, 2025 at 11:07 AM GMT+05:00

Saudi Riyal available at PKR 76.4 in open market


July 04, 2025 at 10:45 AM GMT+05:00

Pakistan charts AI roadmap for key development sectors


July 04, 2025 at 09:49 AM GMT+05:00

Lucky Cement achieves historic export milestone



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg