Major Two Wheeler Financing Institutions Philippines - Ken Research

1. In 2022, the number of vehicles funded rose to ~1,600 Th units. Will future growth of this number be supported by the Philippines Auto Loan Market? Ken Research Buy Now 1. The rising consumption, availability of auto loans and initiatives by automakers restored the market after Covid-19 pandemic. For more information, request a free sample Report  oThe vehicle registration data reflect the overview of number of vehicles present in the market. Gradual increase in car parc size in industry can be attributed to the restoration of consumption and the initiatives of banks in providing consumer durable loans, post-covid. oLaunch of new models and initiatives to support electric vehicle adoption in Philippines by automakers stimulate the consumer interest in autos. Companies have started focusing on increasing the volume along with preserving the margin. Promos are focused on value enhancement than price.

2. Trends and Developments in Philippines Auto Finance Market 2. Introduction of Comprehensive Tax Reform Visit A link Request for Custom Report  oThe passage of the Comprehensive Tax Reform Bill will adjust the excise tax on automobiles increasing their cost and makes motorcycles more affordable than cars. oThe Comprehensive Tax Reform Program will help the economy grow by 3% by 2022. GDP will be boosted as a result of higher household consumption due to lower income tax and the cash transfers. Increased economic activity will be buoyed by increased household consumption and higher investments. oThe motor vehicle users charge (MVUC) or Package 1C of the Comprehensive Tax Reform Program was introduced to provide adequate funding for the maintenance of national and provincial roads. It also aims to address air pollution from motor vehicles. 3. Major Partnerships of Auto Finance Players

3.  oLazada sellers can avail of SB Finance’s multi-purpose loans through a hassle- free application and a low interest rate of 1.8%. Sellers may avail of up to 12-month payment schemes and can expect funds to be credited within 3 banking days. oSecurity Bank Corporation’s consumer finance arm SBF has partnered with Grab Philippines to offer personal loans to Grab users, driver-partners, and merchant-partners through the Grab super app. oSB Rental Corp. is in a partnership with Cats motors inc., the principal dealer of Mercedes Benz locally to offer operating lease options for the acquisition and use of Mercedes Benz vehicles. oThe partnership, which started in 2016, began with global bank MUFG acquiring a 20% stakein Security Bank for PHP 36.9 Bn. Since then, the two lenders have capitalized on its partnership by bringing top-notch products and services to customers. For more insights on market intelligence, refer to the link below: – Philippines Auto Finance Market