Bisnis.com, JAKARTA - The financing company PT Mandiri Utama Finance (MUF) recorded financing of Rp. 6.3 trillion in the first five months of 2022 driven by the new and used car segments.

MUF President Director Stanley Setia Atmadja revealed that the momentum of Ramadan and Eid 2022 has boosted monthly financing in April and May to around Rp. 1.6 trillion and Rp. 1 trillion, respectively.

"May there is a decline in line with the conditions of fewer effective working days, the Eid holiday is quite long. It is also related to the trend of the financing industry cycle after fasting and Eid, where usually there is a decrease in the need for motorized vehicles. But in general it is still in a positive trend," he said. to Bisnis, Wednesday (1/6/2022).

This monthly financing trend continues MUF's financing performance for the first quarter of 2022 with a realization of IDR 3.7 trillion. This means that the realization of MUF financing during the 5 months of the current period has penetrated the range of Rp. 6.3 trillion.

In comparison, last year MUF set a record for financing distribution since its establishment, which was Rp. 11.6 trillion, aka an average of Rp. 960 billion per month. This nominal was even recorded to grow by 97 percent year-on-year (yoy) compared to the pandemic period, which was worth Rp. 5.8 trillion.

Therefore, Stanley sees that the monthly financing performance during the current period is relatively good, in the midst of so many challenges that have slightly hampered the performance of the automotive sector industry, especially in the new car segment.

"For example, the condition of the PPnBM discount which is gradually decreasing, coupled with the increase in Pertamax fuel, is predicted to suppress people's purchasing power and affect the performance of the automotive market starting in May or June 2022," he added.

MUF's Director of Operations, Rita Mustika, once revealed that simultaneously increasing penetration into the new and used car market is the main strategy that brings MUF's monthly financing to a standstill.

Therefore, the leasing subsidiary of PT Bank Mandiri (Persero) Tbk alias BMRI is optimistic that it will be able to target new financing of Rp. 12.3 trillion, with a portion of 55 percent for new vehicles and 45 percent for used vehicles.

"In general, the portion of MUF financing from new car dealers is the highest. But when there is a phenomenon of limited production due to the pandemic and the scarcity of chips, incoming financing is delayed because of the pivot. Not infrequently consumers are interested in looking at stock at our partner used car dealers. So when new cars go down, MUF has a used and multi-purpose car segment that can keep up," he explained when met by Bisnis some time ago.