There is a rapid depletion of auto financing due to the skyrocketing inflation and the increased restrictions on auto loans. This decline is progressive, as the difference between the auto financing in June 2022 – when the record-high loan of Rs. 414 billion was recorded – and the auto financing in February 2023, is substantial, as the decline is progressive.
Feb 2023, auto financing drops for 8th consecutive month
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Is it accurate to say that auto financing in February 2023 amounted to Rs. 375 billion, a decrease of 1.57% month-over-month (MOM) and a decline of 5.06% year-over-year (YOY), according to the most recent report on the subject.
The report by Ismail Iqbal Securities (IIS) indicates that auto financing has reached its lowest level since September 2021, according to IIS. Even so, the decline hasn’t been as severe as expected, and there is a possibility that it will resurge once the economy has stabilized.
