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The Philippine Market is Expected to Grow at a CAGR of 14% Over the Next 5 Years
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This RS offers a detailed assessment of the Philippine auto leasing and car rental market during 2017 to 2022. This market has a very complex structure with the presence of banks, financing/leasing companies backed by OEMs as well as pure-play leasing and rental companies. Low awareness of auto leasing and the popularity of auto finance are the key reasons behind low penetration of auto leasing in the Phillipines. This research service offers an analytical overview of the Philippine automotive market, an overview of the Philippine auto leasing and car rental market, key market participants, key drivers and restraints and market forecasts for 2018-2022. The Philippines is the third most promising market in Southeast Asia, after Indonesia and Thailand. Several international players such as Orix, Hertz, and Avis have a presence in this country. The key driving factors of the market are: a planned increase in the fleet size of market participants, growing economy, growth in popularity of car benefit programs and growth in construction, farming, and tourism sectors. However, the market faces challenges, such as high competition, low airport business, and a decline in automotive sales.
This research service aims to present an overview of the current and future trends and developments in the auto leasing and car rental market in the Philippines from 2017 to 2022. This includes:
Key Issues Addressed
Author: Animesh Kumar
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