The Automotive Association of Peru (AAP) reported that the portfolio of vehicle loans granted by all companies in the financial system (banks, financial companies, municipal and rural savings banks, and edpymes) maintained a decreasing behavior at the end of October 2021.
According to the figures of the Superintendency of Banking, Insurance and AFP (SBS) analyzed by the AAP, during this period S / 3,351 million in loans were reported, a lower figure of 6.1% (S / 220 million) and 6, 5% (S / 235 million) compared to October 2020 and October 2019, respectively.
Alberto Morisaki, manager of Economic Studies of the AAP, pointed out that despite the reactivation of the economy, and therefore the gradual recovery of employment, financing to families for the purchase of vehicles continues to deteriorate.
“It is an option for many families to acquire a new vehicle, generating a series of benefits, both particular (greater comfort and safety for people to transport themselves or as a work tool) and for society as a whole, since new vehicles they contribute to renewing the vehicle fleet, which brings with it less pollution, traffic accidents and congestion, among other benefits, ”he said about the importance of this type of credit.
In this sense, Morisaki stressed that any effort that seeks to expand vehicle financing must be accompanied by clear rules and legal stability to ensure that the economic growth observed in recent years is maintained.
“It is important to continue promoting private investment, one of the key pillars behind improving the living and employment conditions of many people in the country,” he concluded.
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