Understanding the utility and recognizing the role of motorcycles in transportation and delivery services in the country, Home Credit Philippines (HCPH), the country’s leading consumer finance company, is now financing motorcycle purchases in partnership with EMCOR.
With the popularity of ride-hailing apps, food delivery services and more, motorcycles have become a workman’s tool for many Filipinos. Statista, an independent market research firm, found that motorcycles are one of the most preferred modes of transportation for many Filipinos in public and private transportation.
Apart from personal transportation use, many are now dependent on motorcycles for employment and business opportunities. As such, the motorcycle market has seen significant growth, with revenues expected to reach USD5-billion when the year ends.
“As the Filipinos’ financial ally, we are committed to providing our customers with offers that enhance their livelihood and deliver everyday convenience. As we now make motorcycles more accessible to those who need them for their personal and professional use, we look forward to providing more Filipinos the needed support to achieve their goals. With accessibility in mind, we are also optimistic that this will be a great contributor in sustaining the growth of the transportation industry in the coming years,” Puneet Suneja, Chief Sales Officer of HCPH, said.
This initiative is possible through a groundbreaking partnership with EMCOR, a cornerstone brand in the Filipino motorcycle retail landscape. This partnership reflects Home Credit Philippines’s mission to provide customer-friendly financial solutions that help individuals achieve more out of life.
Since its establishment in 2013, HCPH has financed over 80 types of commodities—from the initial four commodities of smartphones, televisions, computers, and laptops—the widest selection for any consumer finance company in the Philippines. With this recent launch, motorcycles now join the list of commodities the company finances which includes tablets, e-bikes, motorcycle necessities, musical instruments, furniture, farming equipment and medical needs, among others.
“Motorcycles bring opportunities, and we want to make these opportunities realized and more accessible to Filipinos through flexible and affordable monthly installments. Financing motorcycles aligns with Home Credit’s commitment to helping its consumers live more rewarding lives. Through this new product offering, those without many bank options will still have the chance to own transportation that can help them improve their overall quality of life,” Suneja concluded.
