Tight Car Financing Seen in 2009
December 30, 2008 by Tsikot · Leave a Comment
The global financial meltdown is expected to affect significantly the sales of entry-level vehicles, bulk of which are financed by bank loans.
“The impact of the crisis is on the entry-level vehicles because banks are already starting to implement more stringent rules in car financing,” Froilan Dytianquin, assistant vice president for marketing of Mitsubishi Motors Philippines Corp., told reporters.
Entry-level cars are those with price tags of P600,000 or less apiece. Read more
Car Loans Rise as Philippine Auto Industry Grows
October 26, 2008 by Tsikot · Leave a Comment
Car loans climbed in June as the local automotive industry continued posting sales growth amid the perceived economic downturn.
Data from the central bank showed that automobile loans (ALs) stood at P79.1 billion as of end-June, 3.3 percent higher than the loans extended for car purchases at the end of the first quarter. Read more
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