Multifinance Companies Anticipate Increase in Demand for Car Financing
KONTAN.CO.ID - JAKARTA. Eid al-Fitr 2023 or locally known as Lebaran, is expected to be livelier than usual after being overshadowed by the pandemic for the past three years. The Ministry of Transportation predicts that the potential movement of people during this year's Lebaran holiday will reach 123.8 million, an increase of about 14.2% compared to last year's 85.5 million. Of this human movement, an estimated 27.32 million, or 22.7% will use four-wheeled vehicles as their mode of transportation.
This prediction has already been felt in the multi-finance industry, as they have experienced an increase in demand for financing of both used and new cars ahead of this year's Lebaran. Data from the Financial Services Authority (OJK) from November last year until January this year showed an increase in financing for both new and used cars (see table).
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