In the Philippines, commuters can spend a minimum of one and a half to two hours on the road to get anywhere in its densely populated cities. With public transportation pouring with passengers, especially during rush hour, several consumers opt to purchase their own vehicles despite the traffic congestion in the Philippines. In the same year, passenger vehicles sold amounted to around 86 thousand units, however, it remains a small proportion compared to the number commercial vehicles.
Metro Manila is a business hub within the Philippines, where people from the provinces relocate to find a better life. It is a highly dense location, and the lack of road infrastructure is one of the daily challenges every commuter and pedestrian faces. For most households, getting a car is one of the easiest decisions to make if it provides comfort. As of January 2022, motor vehicle loans were the second most popular loan types granted by universal and commercial banks in the country.