Philippines Auto Loan Outstanding Expected to Reach of over PHP 4,700 Billion by the Year ending 2023: Ken Research
• The share of multi finance companies has been projected to incline over the coming years. As compared to the banks, multi-finance companies generate better returns and offer customized and innovative credit products. These products are more appealing to masses and banks cannot provide such products because of the size of operations and standardization involved with the size.
• Various Fintech start-ups are likely to penetrate the market in order to expand them within the Philippines auto financing sector.
Technological Advancement in the Philippines Financial Sector: Due to advances in technology, the market has become more efficient and competitive. Developments in financial technology has allowed for various improvements such as quick retrieval of documents, quicker transactions and customized services based on the customers past preferences. Motor vehicle financing has become seamless, fast and transparent leading to improved operations. As a result, a positive outlook can be expected out of Filipino auto finance market.
Rising Middle Class Population: The Philippines is one of the fastest growing economies and is witnessing a fast growing middle class which implies higher purchasing power and in turn growth in automobile sales. As a result of this, credit disbursement will increase as more people will become a part of the banking system. Also, banks and non-banks are targeting these segments in the most untapped areas, which will also result in steady increase in auto loan disbursements for these segments.
The recovering nature of the market has opened avenues for change in operating models, thereby laying huge potential for future growth. Operational precision, consolidated and synchronized compliance-controls amongst various analogous regulatory organizations, generalization and standardization bought in licensing and documentation and digitalization are some of the key changes expected in the coming five years.
Analysts at Ken Research in their latest publication “Philippines Auto Finance Market Outlook to 2023 – By Banks and NBFCs including Captive Units (Auto Loan Portfolio and Motor Cycle Loan Portfolio), By New and Used Motor Vehicles, By Motor Vehicle Financed (Passenger and Commercial Vehicles), By Loan Time Period” believe that the Philippines Auto Finance demand would grow in the near future by opting digitalization and market innovation, providing customized services, focusing towards marketing and promotion, providing commercial and used vehicle financing and other factors. The market is further anticipated to register a positive CAGR of 17% in terms of AUM during the forecasted period 2018-2023.
For more information on the market research report, please refer to the below link:
Key Segments Covered
By Type of Motor Vehicle Loans Provided By Banks and NBFCs
Auto Loan Portfolio
Motor Cycle Loan Portfolio
By Type of Motor Vehicle
By Type of Motor Vehicle Financed
Sports Utility Vehicles
By Time Period of Loan between New and Pre-Owned Motor Vehicles and
By Vehicles Registered Under Various Regions
Key Target Audience
• Existing Auto Finance Companies
• Banks & Subsidiaries
• Auto OEM Captive Finance Companies
• Non Banking Financial Institutions
• New Market Entrants
• Automobile Financing Companies
• Government Organizations
• Automobile Associations
• Automobile Original Equipment Manufacturer
Time Period Captured in the Report:
• Historical Period: 2013-2018
• Forecast Period: 2018-2023
Key Companies Covered:
• Banking Institutions
East West Bank
Philippine National Bank
Bank of the Philippine Islands
Maybank Philippines Incorporated
• Non-Banks and Dealership Financing
Toyota Financial Services Philippines Corporation (TFSPH)
Unistar Credit and Finance Corporation
Radio Wealth finance Company
Key Topics Covered in the Report
• Philippines Auto Finance Market Evolution
• Philippines Auto Finance Market Overview and Genesis
• Philippines Auto Finance Market Ecosystem, 2018
• Philippines Auto Finance Market Value Chain Analysis
• Philippines Auto Finance Market Size, 2013-2018
• Philippines Auto Finance Market Segmentation, 2013-2018
• Major Trends and Development in Philippines Auto Finance Market
• Regulatory Framework in the Philippines Auto Finance Market
• Snapshot on Philippines Automotive Sales And Manufacturing Market, 2013-2023
• Comparative Landscape in the Philippines Auto Finance Market
• Philippines Auto Finance Market Future Outlook and Projections, 2018-2023
• Analyst Recommendations for the Philippines Auto Finance Market
Other Related Reports:
The report provides a comprehensive analysis of Vietnam's Auto Finance Market including market evolution, overview, genesis, market size and market segmentations. Extensive focus has been placed in quantifying the market size of this industry by credit disbursed, auto loans outstanding and number of vehicles financed. The report covers aspects such as market segmentation (by loan tenure, type of vehicles and type of institutions) and snapshot on general automotive space in Vietnam. Competitive landscape of major players including Vietinbank, Bank for Investment and Development of Vietnam, Vietnam International Bank, Saigon Hanoi Bank, Tien Phong Bank, FE Credit, Home Credit and HD Saison have been extensively covered mentioning company overview, major business strategies, USP, car finance delivered, products and services, market share, strengths, financials and various other parameters. Value chain analysis has been given prime importance covering role & nature of major entities along with mentioning the major vendor selection criteria and pain points. The report also covers future industry analysis (by credit disbursed and by auto loan outstanding), future market segmentation, SWOT analysis, growth opportunities, upcoming business models, government regulations and analyst recommendations. The report is useful for existing auto finance companies, potential entrants, investors and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
The report provides a comprehensive analysis of Thailand’s Auto Finance Market including market evolution, overview, genesis, market size and market segmentations. Extensive focus has been placed in quantifying the auto credit disbursed, auto loans outstanding and number of vehicles financed. The report covers aspects such as market segmentation (by loan tenure, type of vehicles, new and used cars and type of institutions) and snapshot on general automotive space in Thailand. Competitive landscape of major players including Thanachart Bank, Bank of Ayudhya, Siam Commercial Bank, Ayudhya Capital Auto Lease, Kasikorn Bank and TISCO Bank have been extensively covered. The report also covers future industry analysis (by credit disbursed and by auto loan outstanding), future market segmentation, SWOT analysis, growth opportunities, upcoming business models, government regulations and analyst recommendations.
The report provides a comprehensive analysis of the car finance market in Indonesia. The report covers aspects such as the market size of the Indonesia Car Finance market segmentation on the basis of type of car financed, tenure of loan and type of financial institution. The report also covers the competitive landscape, government regulations, customer preferences, and value chain analysis of the Indonesia Car Finance Market. In addition to this, the report also covers company profiles and product portfolio of major players. This report will help industry consultants, car finance providers, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Ankur Gupta, Head Marketing
Ken Research Private Limited
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. We provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Philippines Auto Loan Outstanding Expected to Reach of over PHP 4,700 Billion by the Year ending 2023: Ken Research here
News-ID: 1860608 • Views: 231
More Releases from Ken Research
Introduction of Government Policy such as Scrappage Programme coupled with risin …
The stabilization of US-China Trade Relation will positively impact the Taiwan Used Vehicle Market as there will be ease of import and export of used vehicle in the market leading to adequate demand and supply. Vehicles under the age bracket of 2-4 years will account highest market share in terms of sales volume during the period 2018-2025F due to the faster replacement period of a vehicle which is expected to reach
South Korea Cold Chain Market Revenue is expected to grow at a forecasted CAGR o …
• Modern retail businesses, such as hypermarkets, grocery supermarkets, convenience stores and online retailing has rapidly grown over the years driving the demand for cold storage and cold transportation. • The active participation by the pharmaceutical sector due to the growing middle class and the aging population in the country is expected to augment the
India Self Drive Car Rental Market is Expected to reach around INR 2,600 Crore i …
Key Findings: • The market is expected to increase in the future, thus growing at a positive CAGR of 14.6%, due to increased level of investments and strategic partnerships of the players with other service providers. • Entry of new players including OLA Co. and other startups is further expected to stimulate growth in revenues of self drive car rental industry while simultaneously increasing the competition. • Rising income will also play a significant role,
Australia Car Leasing Fleets is Expected to Reach around 425K units by 2023: Ken …
• Total number of small and medium enterprises in Australia is expected to positively grow thus, registering a CAGR of close to 2.8% during the forecast period 2019-2023. The gross value added by the mining industry in Australia is expected to grow at a CAGR of 3.9%, stimulated by the expected continuation of the mining boom during the period. This would be facilitated by a proportionate rise in the corporate demand
More Releases for Auto
Automotive Valve Market: Worldwide Auto-Accessory, SEECO, Dengyun Auto-parts
MarketResearchReports.Biz has recently announced the Latest industry research report on: "Global Automotive Valve Market" : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts. This industry study presents the global Automotive Valve market size, historical breakdown data (2013-2018) and forecast (2018-2025). The Automotive Valve production, revenue and market share by manufacturers, key regions and type; The consumption of Automotive Valve in volume terms are also provided for major countries
Auto Disable Syringes Market
According to a new report published by Data Bridge Market Research The global auto disable syringes market accounted to USD 8.0 billion in 2016 growing at a CAGR of 10.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024. Get Free Market Sample Report @ http://bit.ly/2D6yKaO Key
Dallas Auto Paint Offers The Best Auto Body Repair Services
Best Auto Body Repair Services in Dallas, TX Whether you have dents, dings, scratches, or any other collision damage, you require the help of a professional to fix your car and give it back its factory finish. Dallas Auto Paint is your best shot since they offer top notch services in Dallas. The team is qualified in providing the new paintless dent removal technique, which is quite fast and more efficient
Auto Driveaway Provides Reliable and Safe Auto Shipping Services
FOR IMMEDIATE RELEASE Philadelphia, PA: Recently, Auto Driveaway has been awarded for being one of the most reliable and secure auto shipping companies in the country by renowned entities. The company has more than 40 offices across the country that helps to track and update every detail about the consignment. Every delivery is managed professionally resulting in scheduled delivery without providing any damage, dent or issues to the vehicle. The company provides
Comprehensive Auto Care Solutions at Lucas Auto Care
[For_Immediate_Release] Houston, Texas (Press Release – Fabruary 02, 2011) – Car maintenance and repair is essential for all car owners. They want the best auto care solutions for their cars. Lucas Auto Care serves all essential needs by offering them complete packages for car maintenance and repair. Lucas Auto Care has a team of certified people that are very skilled at what they do (ASE-certified technicians) who are experts in not only
Comprehensive Auto Care Solutions at Lucas Auto Care
Quality auto care services are essential for owners of any vehicle. Lucas Auto Care offers comprehensive auto care solutions (from regular maintenance to complete repair and rebuilds) in the Houston area. [For_Immediate_Release] Houston, Texas (Press Release – October 25, 2010) – Car maintenance and repair is essential for all car owners. They want the best auto care solutions for their cars. Lucas Auto Care serves all essential needs by offering them complete