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Rising demand in the Automotive Market and Growing Digital Advancements are some of the major Trends governing the Philippines Auto Finance Industry: Ken Research

12-27-2022 03:19 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ken Research Pvt .Ltd

Rising demand in the Automotive Market and Growing Digital

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 likely to support the entire product and service lifecycle thereby increasing customer retention and boost loyalty towards few brands in the market
Adopting new technologies like API-based architecture will boost the fintech solution across Philippines

Request For Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MTM2

2.  Financing Rate for New and Old Vehicles expected to increase in future in Philippines

The Financing rate is expected to rise each year due to increasing demand of the finance in recent years. Earlier, the financing for old and new vehicles was not very popular with very limited audience catered by the financing market. The Percentage contribution of New Vehicles financed is higher than Old Vehicles as the rate of interest charged for Old Vehicles is quite high. 

3. Philippines Auto Finance Industry is in a growing stage in which Digital Advancements are expected to provide new opportunities in the future 

Growing Digital Advancements: The Industry is increasingly moving towards newer technology such as AI and ML to improve its efficiency.
Increasing Private Hire Car Service: Large number of people in Philippines are now preferring to hire private Cars leading to potential increase in their financing in future.
Green Car Loans: Electric Vehicles is an emerging segment in Philippines leading way for green loans in the country.

For more insights on the market intelligence, refer to the link below:-

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/philippines-auto-finance-market-outlook-to-2026/596136-93.html

Related Reports By Ken Research:-

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/ksa-auto-finance-market-outlook-to-2026/596022-93.html

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/singapore-auto-finance-market-outlook-2025/508467-93.html

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/thailand-auto-finance-market-outlook/299310-93.html

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 research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

We currently cater to 300+ sectors with 150,000+ research repository across 196+ countries serving 1000+ clients and have partnered with almost 25+ content aggregators.

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