What Are The Statistical Essentials Of The Auto Financing Industry In Pakistan?
A sector exhibiting quintessential celerity in terms of growth, auto financing in Pakistan, as discussed before, has entrenched its supremacy in the banking sector. Despite of having the lowest car penetration ratios in the world, the trend is gradually changing in Pakistan, where the automobile market is envisaged to behold a growth of seventeen percent in the next five years. Moreover in accordance with the new annual report of State Bank of Pakistan, the FY-05 was particularly significant as consumer financing increased by around one hundred percent, which was the highest among all sectors. The personal loans and auto loans accounted for most of the growth in consumer finance with the former constituting 45 per cent and the latter, 32 per cent of the total consumer loans of Rs. 206 billion. What’s more astounding is the mind blowing growth rate of the auto financing sector in a more exclusive regard. According to SBP report the auto loans have rapidly grown by 318 per cent since Jun
