Bisnis.com, JAKARTA - Suzuki Finance Indonesia (SFI) recorded an increase in market share of 5 percent throughout May 2021 when compared to the previous month.

asst. to Sales 4W Dept. Head of PT SIS Sukma Dewi said the increase occurred because the purchasing power of consumers was gradually recovering.

In April it was recorded that the contribution of sales with financing through SFI on credit was 21 percent and in May it increased to 26 percent.

"We hope that this positive trend will continue, so that the motor vehicle financing industry can recover," he said in a written statement, Friday (4/6/2021).

The increase in SFI's financing in May was dominated by commercial car sales, which contributed 80 percent, while passenger cars accounted for 20 percent of the company's total sales.

Sukma added that passenger car financing during May increased 8 percent of the total purchases of passenger cars compared to April.

Meanwhile, the purchase of passenger cars with credit financing through SFI throughout May was dominated by New Ignis by 114 percent. New Baleno followed with an increase of 46 percent and Karimun Wagon R with an increase of 37 percent.

Meanwhile, based on data from Bank Indonesia, in general, the performance of motor vehicle loans (KKB) was still heavy, which was reflected in the loan growth of -28.6% yoy in
March 2021.

Based on data from Bank Indonesia, motor vehicle loan disbursement amounted to Rp103.2 trillion in March 2021, or decreased by 28.6% yoy. This decline was deeper than the position in February 2021 which was -27.1% yoy.

Among consumer loans, motor vehicle loans are the only minus. Meanwhile, the growth of mortgage loans and multipurpose loans has improved. Mortgages grew 4.2% yoy in March 2021, improving from the position in February 2021 which grew 3.8% yoy. Likewise, multipurpose loans grew 1.1% yoy, higher than February 2021 growth which grew 1% yoy.

In total, consumption credit growth improved slightly from -1.2% yoy in February 2021 to -1% yoy in March 2021, due to improvements in mortgage lending and multipurpose loans.