Philippines Auto Finance Market Future Outlook: Ken Research

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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 Finance Market, the Tenure of loan for New Vehicles is divided in 5 sections; 1 Year Loan period amounts to the lowest share of ~ on the basis of Auto Loan Disbursement for New Vehicle while ~ share is given to the 0-5 year or more tenure period amounts to the maximum share. For Used cars, the most favorable tenure is said to be for 3 years or more, with ~ of loan being disbursed for this section.

Philippines Auto Finance Market

Competitive Landscape In The Philippines Auto Finance Market

The overall competition nature has been fragmented owing to large size of other players in the market. The top 5 entities capture around ~ of the total auto loan outstanding in the banking sector in 2019P. Banks have been the dominant entity with more than ~ share in 2019P. Although there are approximately ~entities involved in extending auto finance in Philippines, the market is dominated by banks in terms of auto loans extended owing to low cost of financing and high trust factor associated with their organized & stable business structures. In 2019P, there were 6 major banks namely Metrobank, BDO Unibank, Eastwest Bank, Bank of Philippine Island, Rizal Corporation and Maybank. Banks captured almost ~ share in terms of total loan outstanding in 2019P.

The overall competition nature has been highly concentrated owing to major market share captured by 3 big players namely, Toyota Financial Services Philippines Corporation (TFSPH), Unistar Credit & Finance Corporation and Radio Wealth finance Company (~ of the Non Bank Share of the Market).

Philippines Auto Finance Market Future Outlook And Projections

Philippines auto finance market is likely to witness a boom in terms of auto loan outstanding, credit disbursed and number of vehicles financed especially owing to fast pace developments on the technological front with the development of the Eastern Economic Corridor (EEC). Furthermore, the inclusion of many Japanese Auto makers is also supposed to act like a catalyst for the growth. This is expected to increase the number of total vehicles financed in the country. Customers would witness new schemes in the market focusing primarily on customers friendly outlook and enable customers to operate auto loans financial services from home, without any hassle. Moreover, rise in commercial activities engaging automobiles, such as use of vehicles in public transport, agricultural and industrial use, are expected be the potential prospects of growth in the next five years.

Key Segments Covered:

By Type of Vehicle Financed

New Vehicles

Used Vehicles

Motorcycles

By Banks and Non Banks

Banks (Auto Loans and Motorcycle Loans)

Non Banks (Auto Loans and Motorcycle Loans)

By Type of Banking Institutions

Commercial and Universal Banks

Thrift Banks

By Nature of Vehicles New Vehicles (Banks and Non Banks)

Used Vehicles (Banks and Non Banks)

By Type of Vehicle Sold

Passenger

Commercial

Motorcycles

By Tenure of Loans

New Vehicle (1 year, 2 Years, 3 Years, 4 years, 5 Years or More)

Used Vehicle (1 year, 2 Years, 3 Years or More)

By Registration of Vehicles

Key Target Audience

Existing Auto Finance Companies

Banks

OEM Dealerships

Captive Finance Companies

Credit Unions

Private Finance Companies

New Market Entrants

Government Organizations

Investors

Auto mobile Associations

Auto mobile OEMs

Time Period Captured in the Report:

Historical Period: 2014-2019P

Forecast Period: 2019P-2024F

Key Companies Covered:

Banks

MetroBank

BDO Bank

PS Bank

Eastwest Bank

The Philippine National Bank

Bank of the Philippine Islands

The Rizal Commercial Banking Corporation

Maybank Philippines

China Bank

United Coconut Planters Bank

Security Bank Corporation

Union Bank

Robinsons Bank

The Philippine Bank of Communications (PBCOM)

Land Bank of Philippines

Asia United Banking Corporation

Bank of Commerce

Development Bank of Philippines

Union Bank

UCPB Bank

Sterling Bank of Philippines

NBFCs

Radiowealth finance company (RFC)

Unistar Credit and Finance Corporation

Asia Link Finance Corporation Leauge

One Finance and leasing Corporation

DBP Leasing Corporation

First United Finance and Leasing Corporation

BPI Capital Corporation

Cebu International Finance Corporation

Orix Metro Leasing and Finance Corporation

Philippine Depository and Trust Corporation

LBP leasing and Financing Corporation

RCBC Leasing and Finance Corporation

Captives

Toyota Financial Services Philippines Limited

Key Topics Covered in the Report

Philippines Auto Finance Market Overview and Genesis

Philippines Auto Finance Market Ecosystem, 2019P

Value Chain Analysis of Philippines Auto Finance Market, 2019P

Philippines Finance Market Value Chain Analysis

Philippines Auto Finance Market Size, 2013-2019P

Philippines Auto Finance Market Segmentation, 20113-2019P

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, 2014-2019P

Ways to Finance Automotives in Philippines(Bank Finance or Multi Financing Companies, Personal Finance, Lease Financing)

Vendor Selection Process for Auto Finance Company in Philippines

Competitive Landscape containing Company & Product Profiles in the Philippines Auto Finance Market

Financial Penetration of various OEM Brands

Philippines Finance Market Future Outlook and Projections, 2019P-2024

Analyst Recommendations for the Philippines Auto Finance Market

For More Information, refer to below link:-

Philippines Auto Finance Market  

Related Reports:-

Thailand Auto Finance Market Outlook to 2024: Growing Prominence of Captive Finance Companies and Loan Portfolio of Banks acting as a Catalyst for Market Growth

Qatar Auto Finance Market Outlook to 2023 –By Banks, Non Banking Financial Companies and Captives, By New and Used Vehicles Financed, By Type of Vehicle Financed (Motor Bikes, Cars and Light Commercial Vehicles) and By Loan Time Period

US Vehicle Finance Market Outlook to 2023 –By Banks and Non Bank Entities including Captives and Credit Unions and Finance Companies (Auto Loan Portfolio), By New and Used Vehicles, By Type of Vehicle Financed (Passenger Cars and Light Trucks), By Loan Time Period and By Risk Category

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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