Tag: Car Financing
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Car financing in Pakistan drops 20% in July amid rising prices and interest rates
Car financing in Pakistan witnessed a significant decline in July 2024, as soaring vehicle prices and elevated interest rates continued to dampen consumer demand.
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Factors behind the continuous decline in car financing in Pakistan
In January 2024, the automobile financing sector in Pakistan witnessed a significant downturn, as car financing recorded a notable decrease to Rs246.26 billion.
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SBP data reveals 23.5% YoY decline in auto loans
In October, auto loans faced a decline for the 16th consecutive month due to high interest rates and inflation, as per data released by the State Bank of Pakistan (SBP).
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Honda Civic sales in Pakistan drop by 72.36%
Sedan car sales experienced a significant downturn, particularly notable in Honda Civic sales, which suffered a substantial decline of 67.33 per cent in October 2023 on a month-over-month basis and 72.36 per cent on a year-over-year basis in Pakistan.
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High interest rates and taxes lead to 20.90% drop in car financing in Pakistan
Delve into the latest financial trends as we analyze the sharp decline of car financing in Pakistan, with insights from State Bank data indicating a 20.90% YoY decrease. Discover the factors behind this downturn and its implications for the auto industry and the economy as a whole.
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SBP shortens car loan tenure to deflate import bill
The State Bank of Pakistan (SBP) decreased the consumer lending duration for vehicles on May 24, bringing it to a maximum of three years for cars with engine displacements greater than 1,000cc and five years for those with engine displacements less than 1,000cc. “The maximum tenure of auto finance facility is reduced from five (5) years…