High rates dampen Indian vehicle loan demand

Newswire

MUMBAI, Aug 22 (Reuters) - Fewer Indian consumers are opting for loans to buy their cars because of higher interest rates and offers of greater cash discounts by car makers, a study by J.D. Power Asia Pacific showed. Sixty percent of the more than 5,000 customers that J.D. Power surveyed in its annual sales satisfaction study said they had received a cash discount in 2007, up from 55 percent in 2006. Simultaneously, the percentage of customers who took a loan to finance their new ...

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