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A Long Road to a Faster Lane? Zeenat Chaudhary on how the automotive industry will fare in these uncertain times. Ever since Karl Benz invented the world’s first motor car in 1886 – the Benz Patent-Motorwagen – the automotive industry has come a long way. From hi-tech Hondas and Chryslers to electric Teslas and Nios, the global industry contributes roughly three percent to all GDP output. Due to the pandemic, however, worldwide car sales have taken a hit and are expected to fall from $74.9 million in 2019 to under $62 million in 2020, according to Statista. Industry Overview In Pakistan...

(Representative image) CHENNAI: Cheaper loans, aggressive options from public sector banks and a general reluctance to use cash for cars has led to an increase in auto financing penetration in passenger vehicles from 75% at the beginning of 2020 to around 80% now. Auto financiers and dealers say the current buzz is led by the aggression of PSU lenders, which are offering rates lower than private financiers. However the uptick is restricted only to passenger vehicles and not two-wheelers and commercial vehicles. ICICI Bank head (secured assets) Ravi Narayanan said: “In addition to various ...

Mortgage payments and auto financing. also, the dollar would change and oil is priced in dollars. if dollars go down, price of oil goes up. it's already $110 a barrel. so we would see the gas prices go up. and there is a great fear because government has never done this before. that the u.s. government would no longer be seen as safe haven. and that china and the other countries pick up 50% of our debt would start getting it from other places. they would sell it. if that happens, again credit card rates go up. and we could be facing the end of a recovery. that is what the head of the fed basic...

It looks like some of the original shareholders could get money back from this thing at the end of the day. again, didn't street it up evenly. if you worry about the auto financing, deal with that, bail that out. didn't happen that way. that's what we'll get stuck with. >> neil: i don't want to replay this, by week's end we learned about lehman brothers, a lot their executives knew they weren't sharing. that is a firm we didn't bail out but there were others we did that we're finding out stuff. the better part of valor have been to cool it? or were we throwing fire running out of control? >> n...