Bisnis.com, JAKARTA— PT CIMB Niaga Auto Finance (CNAF) or CIMB Niaga Finance has distributed electric car loans worth IDR 336 billion in 2023. This credit distribution has increased by 273% compared to 2022 which only reached IDR 90 billion.

Of the total number of units, CNAF has provided credit for 889 environmentally friendly car units in 2023. Meanwhile in 2022 it will only reach 233 units.

"So, it can be said that it has grown significantly by more than double or 282% if calculated from the number of units," said CNAF President Director Ristiawan Suherman to Bisnis, Friday (19/1/2024).

Electric vehicle loans at CNAF contributed 4% of the company's total financing which reached IDR 8.94 trillion as of December 2023. Ristiawan revealed that currently there are several things that the company is still paying attention to for environmentally friendly vehicles, especially the price of Electric Vehicles (EV) which is relatively expensive. Apart from that, the charging station and service infrastructure is still very limited.

"Concerns over the falling sales value of EV vehicles because there is no market for second-hand EV cars is also a concern," said Ristiawan.

In the midst of these challenges, CNAF is still optimistic that new financing for environmentally friendly vehicles will increase this year. His party targets electric car loans to reach IDR 400 billion or an increase of 19% compared to 2023.

To support the growth of environmentally friendly vehicle financing, Ristiawan said CNAF will provide interest rates/margins that compete with the market, namely offering interest rates that are cheaper than regular financing and even offering 0% interest rates with special conditions.

"Of course, this is an alternative choice for customers. Apart from that, CNAF prioritizes accelerating the application process and simple documents which will enable the growth of environmentally friendly car financing to increase," said Ristiawan.

Ristiawan said CNAF also continues to synergize with its parent company, namely PT Bank CIMB Niaga Tbk, to attract customers. Moreover, the parent company also has the same direction in terms of sustainability.