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 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.

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

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

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

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

Ask For Customization @ https://www.kenresearch.com/ask-customization.php?Frmdetails=NTk2MTM2

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:-

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 Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.