Subscribe to the Blog
Subscribe to Our RSS feed:
Car financing may revive as SBP slashes interest rate
Earlier this month, calls by representatives of Pakistan’s automotive industry were made to slash down interest on car financing schemes so that consumers may benefit and it may ease the rough times faced by the local assemblers. It seems that those calls have been heard, State Bank of Pakistan have announced to slash down interest rates on consumer financing to 10.5 %. Although any impact on car sales will be reflected on the sheets in 2013 as sales through financing scheme may take a while to gain traction however, industry sources said that some banks are already financing on lower …
High prices, tough financing schemes and high mark up rates force buyers to purchase second hand cars
Car prices today have increased three times compared to the prices in 2006 and to test the impact on buyers of this exorbitant increase in prices, Pakwheels.com and YouGov collaborated towards a research on the local automotive assembling industry which has been rated as the lowest progressive industry in Pakistan which hasn’t even been able to move from assembling to manufacturing. Although mark up on financing have increased, however the number of financing options available to a buyer today has decreased significantly compared to 2006 as the impact is clearly reflected in the research where majority of the buyers (65%) …
Posted in Articles
953 views
Auto industry requests SBP to bring down auto financing mark-up to single digit
One of the reasons why our economy and automotive industry was flourishing during Musharraf era was that people had money to spend, banks were giving people money to spend on anything they wished to purchase and return on installments but than the power transition from older to current government scared all the investors away from the country forcing us into a foriegn debt crisis and when banks decided not to give people money to spend, and that’s how our local economic crisis began. I am not an economist by any stretch but I do like to stay informed; the whole …
Posted in News
862 views
