Business Times (India)(India)January 29, 2018 13:59:52 Auto services companies needham: 2018 article The biggest automobile services companies are in need of an infusion of cash as there is a shortage of auto loan finance, which can affect the way businesses operate.
The industry, which has been reeling under the impact of demonetization, has also been hit by a slowdown in the auto sector.
A new report by financial research firm Automotive Services Data Group (ASGD) indicates that the number of companies with auto loan loans has fallen by about 10 percent in the past year.
This is a clear sign that the auto loan industry has been hit hard by the demonetisation policy.
As a result, more than 2.8 million auto loan holders are currently unable to repay their loans.
“The decline in auto loan loan borrowers has resulted in a fall in auto lending volumes and a decrease in auto loans receivable,” said Ashish Bhardwaj, chief operating officer at ASGD.
“This in turn has impacted the business of auto loans servicing companies as they are unable to recoup their loan debt.”
Auto loans servicing company companies have been hit badly, with about 50 percent of auto service companies in needham reporting negative net sales in 2018.
This means they have failed to make profit and need to reduce their losses to recover their losses.
Auto loans companies need ham is a research company that conducts research on the automotive industry and offers insight into the state of the auto industry.
The data firm is also working on a new report on the auto service industry, called Automotive Service Needsham, that is due out on January 30.
Auto services industry needham study: 2018 dataAs the data firm notes, there is only a small amount of auto services companies with loan debt outstanding, with a total loan amount of Rs 1,000 crore.
“However, the loan debt at the end of 2018 stood at Rs 2,300 crore,” it said.
This shows the total amount of loans outstanding at the beginning of 2018 was around Rs 1 lakh crore.
The auto service needsham report will analyse trends and findings from the auto services industry in 2018 and estimate trends in the industry.
“In the next two years, there will be a need for an infusion in cash to revive auto loans,” said ASGD president Prakash Jain.
“As a result of the demonettisation policy, auto loan servicing companies are faced with the task of restructuring their business model.
Automobile loan servicing is a difficult industry, but it is a challenge for any industry to manage.
It is therefore critical that auto loan service companies are able to reduce losses by restructuring and re-organising their business structure.”
The industry needs ham will be based on a survey conducted by Automotive Data Group, which is conducted by the Centre for Automotive Research.
The survey was done in partnership with the Association of Automotive Dealers and Traders.
The research firm has a team of researchers and experts from across the country who conduct research on automotive industries and provide feedback to the companies that conduct research.
ASGD is a non-profit organisation that provides financial analysis and insights to the auto and automotive industry.