Shriram Transport Finance sees vehicle financing on recovery road in FY23

Moving in line with the expected growth in GDP numbers next fiscal, Shriram Transport Finance Company (STFC) expects the vehicle financing segment to see higher growth and recovery in 2022-23.

"GDP growth pegged around 7-8 per cent. Automatically there has to be credit growth of 15 per cent. Next year we will be able to see higher growth and recovery will happen soon. STFC is already back to pre-covid level," said Umesh Revankar, Vice Chairman and Managing Director. With a customer base of over 2.1 million, STFC has around 27 per cent market share in pre-owned commercial vehicle financing and over 8 per cent in new truck financing. Revankar added that though the company's numbers have touched the pre-Covid level,