Consumer durable loans hit record ₹1.19 lakh crore as electronics prices surge 12-40%
Q1 consumer durable financing rose 9.2% to ₹1.19 lakh crore as electronics prices jumped 12-40%. Smartphone financing now covers 40% of sales, up from 35%, with NBFCs like Bajaj Finance (16.4M loans) extending tenures to keep instalments affordable in smaller towns even as the smartphone market contracted 11%.
Consumer financing hit a record in Q1 as electronics prices rose 12-40%, with financing covering 40% of smartphone sales. NBFCs like Bajaj Finance drove growth into smaller towns, extending tenures to keep instalments affordable for durables retailers like Vijay Sales.