How Digital disruption will transform the Philippines Auto Finance Market in the next five years?: Ken Research The Philippines has observed the maximum growth in the automotive industry in ASEAN, with automotive loans outstanding growing at ~3% CAGR in the last five years (2016 – 2021). The industry is in the growing phase with Universal And Commercial Banking Institutions leading the Market and rising demand for used cars, a more Flexible model… Read More »
Rising demand of automotives, Positive Outlook for E-Vehicles, and Potential for Fintech Growth will drive Philippines Auto Finance Market: Ken Research 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… Read More »
Philippines Auto Finance Market is Expected to grow at 6.8% CAGR in between 2021 and 2026F: Ken Research Philippines Auto Finance Market Segmentations By Category of Lenders (by Revenue), 2021 & 2026F Most of the people in Philippines will opt to take Auto Loans from Banks owing to lower Interest Rates and large variety of loan options provided by them. As of 2021, Metrobank Car Loan for New Cars at one of the… Read More »
Rising demand in the Automotive Market and Growing Digital Advancements are some of the major Trends governing the Philippines Auto Finance Industry: Ken Research 1. Philippines is 2nd fastest growing vehicle market in ASEAN Utility Vehicles likely to dominate the market in terms of New Vehicle Registrations every year with foreign brands and Japanese automobile manufacturers prospering the Philippines market. SUVs holds less share due to high capital investment and cost attached to it. Customer lifecycle management optimization is… Read More »
Philippines Auto Finance Market Growth, Analysis and Outlook to 2026: Ken Research Philippines Auto Finance Market Overview Philippines is 2nd fastest growing vehicle market in ASEAN with Commercial vehicles with higher market share and the market has observed the maximum growth in the automotive industry in ASEAN Countries, with automotive loan outstanding growth in the last five years mainly due to population increase and economic growth. The… Read More »
Rising Auto Finance Aggregators, Flexible Models of Financing with Growing Digital Advancement and Government Initiatives had driven Philippines Auto Finance Market: Ken Research Buy Now Rising Innovation: Innovative digital startups such as iChoose.ph are reshaping the challenging car shopping and financing process into a quick and easy experience for customers in Philippines. It is expected that these will create an auto finance ecosystem in which digital aggregators increasingly control the sales and financing process. Car dealerships are expected to increasingly bring… Read More »
Philippines Auto Loan Outstanding is Expected to Reach around PHP 1,026.6 Billion by 2024: Ken Research Nissan has expanded its Nissan Finance program to enable more customers in the Philippines to own a Nissan vehicle. In partnership with East West Banking Corporation (EastWest), the sales finance program provides wholesale and retail financing options and loan facility products exclusively for Nissan customers in the Philippines. Entry of Japanese Automakers in the Philippines… Read More »
Philippines Auto Finance Market Future Outlook: Ken Research On the basis of Institution (Banks and Non Banks): We witness that in Philippines, New vehicle loans given by banks amounts to ~ while by non banks they only amounts to ~ Similarly for used vehicles, banks provide ~of loans and non banks provide ~ of the loans. By Tenure of Loan: In Philippines Auto… Read More »
Philippines Auto Finance Market Research Report: Ken Research How Philippines Auto Finance Market Is Positioned? The auto finance market has played an imperative role in the overall GDP (Constant Prices) contribution in the Philippine economy with a value contribution of more than 25% in terms of auto loan outstanding by the end of 2019 (Provisional). The Auto Finance Market in Philippines is fairly… Read More »
Philippine Auto Finance Growth is Driven by Rise in Sales of Used Cars and High Financial Penetration Rate: Ken Research “While oil price in 2020 is expected to linger at a relatively high level, currently in Philippines, there are 28 firms engaged in the manufacturing of various electric vehicles. Complementing these companies are 11 parts and component manufacturers and seven importers. The industry currently provides employment to 14,840 individuals. As the government continues to support… Read More »
