Latest News
-
Gold Prices Ayodhya: In Ram-Janma-Bhumi, 24carat Falls By Rs 380 In 10-Grams, Drops By Rs 3,800 In 100-gram -
Penny Stock Hits 2nd Upper Circuit After Declaring Earnings, Gains 14% In 1-Week -
Rs 8.50/Share Dividend Recommended: Nestle India Reports 27% YoY Jump In Profit -
0.50% Dividend Yield: Midcap Cement Stock Slumps 10% Following Weak Q4 Results; Profit Down 48% YoY -
1:10 Split, Rs 147/Share Dividend: FMCG Major Likely To Report Profit Growth; Buy Or Sell? -
Mark Zuckerberg's Meta Reports Record Q1 Profit Surge, Projects AI Investments This Year; Stock Slumps -
Gold Prices India: 24K/100 Grams Yellow Metal Falls By Rs 3800, 24K/10 Grams Down By Rs 380 -
Rs 44,000 Crore M-Cap Lost, Stock Falls 10%, No More 4th Largest Bank; How RBI's Ban Rocked Kotak -
Mukesh Ambani Led JioCinema Slashes Premium Subscription Prices; IPL Live Stream Remains Free -
Strong Listing: Vodafone Idea FPO Soars In Debut, Shares Rebound; KM Birla Lauds Success
Car Loans Increase By 30%; Average Ticket Size Also Grows: Report
In respect of the ticket size, as against the earlier trend, car loan portfolio of Rs 5-10 lakh is becoming more popular and 41% of the overall car advances fall in this category.
A report indicating Indian consumer sentiment who are now increasingly resorting to borrowing for car purchase has been presented yesterday. The outstanding loan portfolio for passenger vehicles increased to Rs 3.59 lakh crore until September 2017, registering a voluminous growth of 30%. This has come at a time when the air quality of several of the country's metro and non-metro cities is reported to be hazardous and concerns over vehicular emissions are being cited.
Average ticket size of car loans is also growing steadily with 20% increase in last 3 years to Rs. 5.5 lakh from Rs. 4.5 lakhs earlier.
The report highlighted financing of as many as 17 lakh passenger cars in the first six months of the FY 2017-18 as against 31 lakh cars financed in the previous fiscal year.
In respect of the ticket size, as against the earlier trend, car loan portfolio of Rs 5-10 lakh is becoming more popular and 41% of the overall car advances fall in this category. Rs. 2-5 lakhs ticket size bracket in the car loan category has taken a hit to 40% as against 55% in FY 2011-12.
On the geographical front, Maharashtra leads the chart with the most car loan amount disbursed while Telangana tops in respect of average ticket size.
The asset quality for the segment is not a worry for financiers and the NPAs have improved to 3.7% until September 2017 from 4% in the year-ago period.
With Inputs From PTI
