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 lowest rates in Philippines with one month advance.
By Type of Vehicle, 2021 & 2026F: Most of the loan provided are to the Two and Three-Wheeler sections. Four-Wheeler segment is expected to see a high growth rate with the growing income of the people and growing population.
By Type of Ownership, 2021 & 2026F: The majority percentage of the market is dominated by the used cars. The Overall Market of number of cars financed is expected to see a good growth in CAGR owing to improving financial infrastructure, higher convenience and customer centric approaches. The majority percentage of the market is dominated by the used cars.
By Category of Vehicles, 2021 & 2026F: The number of passenger cars sold in the Philippines slightly increased in 2021 compared to the previous year. With a vehicle unit sale, the majority of the share in 2021, Toyota is expected to have one of the highest market shares.
By Loan Tenure, 2021 & 2026F: In Philippines Auto Finance Market, Higher proportion (~XX%) of the New Vehicles sold are financed as compared to the used vehicles. In 2021, Most of Old Vehicles sold are taking a loan tenure of 25-48 Months to Repay Loan due to the reasons of Accessible to wider credit types, Slower Depreciation, Smaller Loan amount offered to the people.
By Geographical Location, 2021 & 2026F: NCR region takes the lead based on auto loans credit disbursed across Philippines. The National Capital Region (NCR), also known as Metropolitan Manila, is the country’s political, economic, and educational center. The smallest region in the Philippines, it is the most densely populated region which is home to million Filipinos. And NCR Region is expected to continue to Take Lead in Philippines Auto Finance Market.
Philippines Auto Finance Market Future Outlook And Projections
The Overall Market of number of cars financed is expected to increase at owing to improving financial infrastructure, higher convenience and customer centric approaches. Market potential is very good as it in growing stage as we can see that Stage: Growing-
CAGR: ~% (2016-2021)
CAGR: ~% (2022-2026F)
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
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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
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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
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KSA Auto Finance Market Outlook to 2026F
