New Delhi, Nov. 24 -- The non-banking financial companies (NBFCs) assets under management (AUM) for the vehicle finance and home loans, that comprise nearly 44% of the overall NBFC AUM, is set to grow at 18-19%, noted Crisil Ratings in a report on Monday.

It highlighted that the recent Goods and Services Tax (GST) cuts have given a fillip to unit sales across vehicle categories, particularly cars, and this momentum is likely to continue with a steady growth of 16-17% over this fiscal and the next.

Additionally, increasing preference for premium vehicles among buyers and focus on used-vehicle financing will support AUM growth in the segment even though competition with banks remains strong in new vehicles, it said.

In home loans, which ...