Sunday, July 27, 2025
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT
Happy With Car
No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS
Happy With Car
No Result
View All Result
Fitch downgrades India’s auto loan sector outlook on economic slowdown risks, ET Auto

Fitch downgrades India’s auto loan sector outlook on economic slowdown risks, ET Auto

by admin
June 21, 2023
in Market
0 0
0
Share on FacebookShare on Twitter


New Delhi: Fitch Rankings has revised the outlook on the Indian auto mortgage sector to “deteriorating” from “impartial”, pushed by the expectation of a slower home GDP progress amid a world financial slowdown. Elevated inflation and tighter financial coverage too are also prone to harm demand within the sector, the score company stated.

Financial circumstances stay difficult for the underlying auto mortgage property as they’re primarily commercial-vehicle loans in nature. These loans are largely prolonged to small street transport operators, who are typically extra susceptible to financial shocks, Fitch Rankings stated in an announcement on Tuesday.

“The worldwide financial slowdown can be prone to cut back demand for Indian exports. A slowdown in industrial actions may weigh on the efficiency of medium and heavy industrial autos, that are used largely for long-haul transportation,” the assertion stated.

Excessive inflation, Fitch Rankings stated, could enhance the working prices of autos and the price of dwelling, which can harm operators’ debt servicing capability.

The worldwide score company, nonetheless, believes tailwinds corresponding to continued restoration in financial exercise after the pandemic shock and the federal government’s deliberate enhance in infrastructure spending will assist maintain and comprise the deterioration in asset efficiency in auto loans.

In the meantime, Fitch forecasts India’s GDP to develop by 7.0 per cent within the monetary yr ending March 2023, earlier than slowing to six.2 per cent within the subsequent monetary yr beginning April 2023 because the worldwide slowdown weighs on the economic system.

However, it stated India’s financial progress stays robust relative to that of its international friends.
“India is anticipated to document one of many quickest progress charges amongst rising markets in our Fitch20 protection this yr because the economic system is shielded to some extent by its domestically targeted nature,” the assertion stated.

  • Printed On Dec 14, 2022 at 08:24 AM IST

Be a part of the group of 2M+ business professionals

Subscribe to our e-newsletter to get newest insights & evaluation.

Newsletter icon

Obtain ETAuto App

  • Get Realtime updates
  • Save your favorite articles


Scan to obtain App




Source link

Tags: AutodowngradeseconomicFitchIndiasloanoutlookrisksSectorSlowdown

Related Posts

Tariffs Have Cost VW Group .5 Billion: ‘Negative Impact’
Market

Tariffs Have Cost VW Group $1.5 Billion: ‘Negative Impact’

July 26, 2025
Trump Just Struck a ‘Massive’ Trade Deal With Japan. Here’s Why Detroit Is Furious
Market

Trump Just Struck a ‘Massive’ Trade Deal With Japan. Here’s Why Detroit Is Furious

July 24, 2025
GM Took a .1 Billion Hit in Profits Thanks to Tariffs
Market

GM Took a $1.1 Billion Hit in Profits Thanks to Tariffs

July 22, 2025
Tariffs Are Already Killing New Cars Under ,000: Study
Market

Tariffs Are Already Killing New Cars Under $30,000: Study

July 19, 2025
Mercedes EQ Models Just Got Way Cheaper
Market

Mercedes EQ Models Just Got Way Cheaper

July 18, 2025
2026 Hyundai Palisade Price
Market

2026 Hyundai Palisade Price

July 15, 2025
Load More
Next Post
First Drive: 2023 Toyota Prius

First Drive: 2023 Toyota Prius

MassPrinting Signs Three Year Extension to Partnership with the Boston Red Sox – Insurance Industry Today

MassPrinting Signs Three Year Extension to Partnership with the Boston Red Sox - Insurance Industry Today

Categories

  • Auto News (3,425)
  • Automative Reviews (1,941)
  • Car Brands (2,067)
  • Insurance (3,449)
  • Market (1,610)
  • New Cars (2,169)
  • Technology (2,044)
  • Videos (2,144)
Happy With Car

Find the latest automotive news. Read car news from the auto industry including auto shows, latest vehicles, future cars and more.

Categories

  • Auto News
  • Automative Reviews
  • Car Brands
  • Insurance
  • Market
  • New Cars
  • Technology
  • Videos

Recent News

  • Alpina’s Logo Just Got Slightly Less Cool
  • Increase in MTPL Tariffs Will Improve Financial Standing of Uzbekistan’s Insurers
  • Bosch Unveils Affordable ADAS Solutions for India, Powered by Local Innovation, ETAuto
  • Home
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact

Copyright © 2020 Happy With Car

No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS

Copyright © 2020 Happy With Car

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In