Loans for car ownership continue to rise.

Consumer credit grew 26.1% in July over the same month last year, totaling EUR 435 million, with the automotive industry to maintain greater dynamism, especially in loans with retention of title, show the data of the Bank of Portugal (boP) released Tuesday.

Compared to June, the growth was 6.5%, or EUR 26.4 million. Year on year there has also been an acceleration, since June this variation had stayed at 21.5%.

Delinquency and repeating the trend of recent months, car loans again recorded the largest increases over the same period. Still, leasing or ALD for new car purchasing slowed, growing 15.4%, about half that of the 30% recorded in June. Loans to finance the purchase of used grew 24.4% far below the 36.2% the previous month.

Within the automotive industry, and compared to July 2014, credit with car ownership reserve rose 50.6% in new cars, accounting for around EUR 39.7 million, and 47.7% in used, keeping roughly the previous same rate.

The monthly variation, the amount granted for the purchase of new cars decreased by 1.4% and used rose 1.2%. Since the acquisition with retention of us grew 18.3% in the new and 14% in used.

Personal loans, loans for education, health, renewable energy and leasing equipment, rose by 13.5% in July from the same month of 2014, to 1.79 million euros. And growth of 5.2% compared to June. Also the personal credit contracts without specific purpose (home, consolidated or otherwise) rose 16.2% year on year to a total of 179.7 million euros, growth of 3.1% compared to June. (Red more)

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