Rising demand of automotives, Positive Outlook for E-Vehicles, and Potential for Fintech Growth will drive Philippines Auto Finance Market: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Growing Digital Advancements: The Industry is increasingly moving towards newer technology such as Artificial Intelligence and Machine Learning to improve its efficiency. The Insurance Commission continues to push for digitalization and further innovation by promoting better customer service. For instance, Fintech PH aims to position the Philippines as a hub for technological innovation in financial services through the partnership with the technology associations in China, Denmark, Israel, Japan, Malaysia, Singapore, and Thailand. In the past, 5 – 10 years, Philippines is witnessing a new wave of digital enhancements with several new fin-tech platforms for aggregation, peer – to – peer lending and more coming in the market. Some of the most well-known of these start- ups are- Moneymax, Seekcop, Justpay.to, pesopay etc. Constant growth in automobile industry: Despite supply constraints, the auto industry seems to be growing at a high rate. The rise in private car service financing is driving the Philippines automotive financing market. For instance, it is the fourth largest automotive market in South East Asia increased by double digit in May 2022. Increasing Private Hire Car Service, a large number of people in Philippines are now preferring private Hire Cars leading to potential increase in their financing in future. Green Car Loans or Electric Vehicles is an emerging segment in Philippines leading way for green loans in the country. Green Vehicle Policy: The Philippine electric vehicle (e-vehicle) industry aims to have a nation where the use of electric vehicles is highly promoted, encouraged, and supported by its government and society in order to develop a transportation landscape that is one with the environment, ecologically and economically. The EV Act seeks to develop the Philippine electric vehicle (EV) industry and create a Comprehensive Roadmap for the EV Industry (CREVI). The law covers the manufacture, assembly, construction, import, trade and regulation of EVs, related equipment and their charging stations, and the tax incentives accompanying these projects. Financial Support Provision: Auto Finance Companies and Dealerships are also expected to further increase their financing and contracting options making them more flexible to support retail Sales. It is expected that NBFC and Captive companies will start picking up more pace than Commercial Banks in Philippines Auto finance Industry Analysts at Ken Research in their latest publication “Philippines Auto Finance Market Outlook to 2026– Driven by change in consumer spending, ease in provision of loans, improving technology and government support” by Ken Research observed that Auto Finance Market is an emergent market in Philippines at a growing stage even during the pandemic as well. The rising demand for automobiles, Positive Outlook for E-Vehicles, and growing digital advancement like Artificial Intelligence and Machine Learning, are expected to contribute to the market growth over the forecast period. The Philippines Auto Finance Market is expected to see high growth rate over the forecasted period 2021-2026F. To Know More about this report, download a Free Sample Report Key Segments Covered:- Philippines Auto Finance Market By Category of Lenders (By Credit dispersed), 2021 & 2026F Universal and Commercial Banks Thrift Banks NBFCs Captives By Type Of Vehicles (By Credit dispersed), 2021 & 2026F Two and Three Wheelers Four Wheelers Buses and Trucks By Type of Ownership (By Credit dispersed), 2021 & 2026F Used Cars New Cars By Category of Vehicles (By Credit dispersed), 2021 & 2026F Passenger Vehicles Commercial Vehicles By Loan Tenure (By Credit dispersed), 2021 & 2026F 12 – 24 Months 25 – 48 Months By Geographical Location (By Credit dispersed), 2021 & 2026F Region I Region II Region III Region IV – A Region IV – B Region V Region VI Region VII Region VIII Region IX Region X Region XI Region XII NCR A.R CARAGA Key Target Audience Banks and its Subsidiaries NBFCs Captive Finance Companies Government and Institutions Automobile Companies Car Dealers Government and Institutions Existing Auto Finance Companies OEM Dealerships New Market Entrants Investors Auto mobile Associations To more about industry trends, Visit this Link Request for a custom report Time Period Captured in the Report:- Historical Period: 2016-2020 Base Year: 2021 Forecast Period: 2022– 2026F Companies Covered:- Asialink Finance Corporation Yulon Finance Philippines Corporation Security Bank MetroBank Welcome Bank Toyota Financial Services Philippines Corporation (TFSPH) Bank of Philippines Island BDO Unibank Malayan Insurance Philippine Depository and Trust Corporation LBP leasing and Financing Corporation Robinsons Bank The Philippine Bank of Communications (PBCOM) Land Bank of Philippines Asia United Bank Development Bank of Philippines Union Bank Sterling Bank of Philippines Penbank and more For more insights on the market intelligence, refer to the link below:- Philippines Auto Finance Market Related Reports By Ken Research:- KSA Auto Finance Market Outlook to 2026F Singapore Auto Finance Market Outlook to 2025 (Edition II) Thailand Auto Finance Market Outlook to 2024 Tags: Automobile finance sector in Philippines, Digitalization in Philippines, Fin-tech companies in Philippines, Financial Institutions in Philippines, Investors in Auto Finance Market, lending banks in Philippines, New Auto Finance Market Philippines, Online Auto- Finance Market in Philippines, Philippines Auto Banking Market, Philippines Auto Finance Industry, Philippines Auto Finance Industry Outlook, Philippines Auto Finance Lenders, Philippines Auto Finance Market, Philippines Auto Finance Sector, Philippines Auto Investment Market, Philippines auto loans Market, Philippines Auto Market, Philippines auto refinance market size, Philippines Automobile banking Market, Philippines Automobile loan market, Philippines Automotive Loan Industry, Philippines Automotive Market, Philippines Finance Automobile Industry, Security Bank Car Finance Market, Startups in Philippines Auto Finance Market, Used Auto Finance Market Philippines, vehicle financing Market in Philippines