Philippines Auto Finance Industry Outlook - Ken Research

1. Rising demand of Automotives, Positive Outlook for E-Vehicles, and Potential for Fintech Growth will drive Philippines Auto Finance Market: Ken Research Growing Digital Advancements: The Industry is increasingly moving towards newer technology such as Artificial Intelligence and Machine Learning to improve its efficiency. The Insurance Commission continues to push for digitalization and further innovation by promoting better customer service. For instance, Fintech PH aims to position the Philippines as a hub for technological innovation in financial services through the partnership with the technology associations in China, Denmark, Israel, Japan, Malaysia, Singapore, and Thailand. In the past, 5 – 10 years, Philippines is witnessing a new wave of digital enhancements with several new fin-tech platforms for aggregation, peer – to – peer lending and more coming in the market. Some of the most well-known of these start- ups are- Moneymax, Seekcop, Justpay.to, pesopay etc. Constant growth in automobile industry: Despite supply constraints, the auto industry seems to be growing at a high rate. The rise in private car service financing is driving the Philippines automotive financing market. For instance, it is the fourth largest automotive market in South East Asia increased by double digit in May 2022. Increasing Private Hire Car Service, a large number of people in Philippines are now preferring private Hire Cars leading to potential increase in their financing in future. Green Car Loans or Electric Vehicles is an emerging segment in Philippines leading way for green loans in the country. Green Vehicle Policy: The Philippine electric vehicle (e-vehicle) industry aims to have a nation where the use of electric vehicles is highly promoted, encouraged, and supported by its government and society in order to develop a transportation landscape that is one with the environment, ecologically and economically. The EV Act seeks to develop the Philippine electric vehicle (EV) industry and create a Comprehensive Roadmap for the EV Industry (CREVI). The law covers the manufacture, assembly, construction, import, trade and regulation of EVs, related equipment and their charging stations, and the tax incentives accompanying these projects. Financial Support Provision: Auto Finance Companies and Dealerships are also expected to further increase their financing and contracting options making them more flexible to support retail Sales. It is expected that NBFC and Captive companies will start picking up more pace than Commercial Banks in Philippines Auto finance Industry Analysts at Ken Research in their latest publication “Philippines Auto Finance Market Outlook to 2026- Driven by change in consumer spending, ease in provision of loans, improving technology and government support” by Ken Research observed that Auto Finance Market is an emergent market in Philippines at a growing stage even during the pandemic as well. The rising demand for automobiles, Positive Outlook for E-Vehicles, and growing digital advancement like

2. Artificial Intelligence and Machine Learning, are expected to contribute to the market growth over the forecast period. The Philippines Auto Finance Market is expected to see high growth rate over the forecasted period 2021-2026F. To Know More about this report, download a Free Sample Report 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

3. By Type of Ownership (By Credit dispersed), 2021 & 2026F Used Cars New Cars 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

4. 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 To more about industry trends, Visit this Link Request for a custom report Time Period Captured in the Report:- Historical Period: 2016-2020 Base Year: 2021 Forecast Period: 2022– 2026F Companies Covered:- Asialink Finance Corporation

5. 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:- Philippines Auto Finance Market Related Reports By Ken Research:- KSA Auto Finance Market Outlook to 2026F Singapore Auto Finance Market Outlook to 2025 (Edition II)

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