Islamabad, Aug 20: According to data released by the State Bank of Pakistan (SBP), auto finance has been down for 25 months running. By the end of July, it was down 20.1 percent YoY to Rs. 228 billion from Rs. 285 billion in the same period last year.Automobile costs continue to be a major sales obstacle, as demonstrated in FY24.
Although a few assemblers have offered reductions on registration and other fees in recent months, the industry’s general expansion has remained stifled.By the end of July 2024, personal credit card loans had increased by 27.5 percent YoY to 125 billion rupees.By the end of July 2024, consumer funding for home construction had decreased by 3.9 percent to Rs. 203 billion.
By the end of July 2024, consumer funding for home construction had decreased by 3.9 percent to Rs. 203 billion. In July 2024, total credit extended to consumers (consumer financing) dropped to Rs. 802 billion, a 5.8% YoY decline.
