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Auto financiers may see NPAs climb during 2nd Covid wave

India city Mumbai experts pandemic Waves
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MUMBAI : Vehicle financiers in India may see a 5-7% increase in non-performing loans as the second wave of the pandemic worsens the financial health of their customers, industry experts said.Incomes of fleet operators have taken a severe hit as strict lockdowns in the states have crimped economic activity, adding to an increase in operating costs, the experts said.“There are emerging trends of extension of loan tenors by vehicle financiers to reduce servicing burden for borrowers.

All vehicle segments would be impacted by the pandemic as it gets widespread, hindering business activity and thus affecting borrowers’ cash flows.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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