EastWest Bank recognizes Car Dealerships
Giants in the automotive industry received VIP treatment at the recent EastWest Auto Dealers' Appreciation Night at the Marriott Grand Ballroom. Dubbed as #EWBDrivetosuccess, the exclusive gathering of various dealerships under the top 10 big brands was a celebration of partnerships and achievements. Awards like Dealer of the Year (Metro Manila and Provincial), Quantum Leap, Rookie of the Year, and Hall of Fame were bestowed on the most deserving partner dealers.
"The success of the bank would not be possible without the continued support of our partners," said EastWest EVP and Consumer Lending Cluster Head Jackie Fernandez in her speech.
EastWest's auto loans business has been growing dramatically: 47% in 2014 and 66% in 2015. Now, EastWest is the 4th among the top auto loans players in the banking sector.
The Bank's auto loans performance is parallel with the auto industry. Based on the data released jointly by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA), new vehicle sales grew by 22.9% in 2015 from the previous year. Passenger car sales alone increased by almost 29% to 116,381 units, driven by affordable and flexible financing packages.
"With our continued store network expansion and systems upgrade, our Bank will be able to provide more and better services to the auto industry. Your car buyers can easily access the nearest EastWest store for their banking needs," said President and CEO Antonio Moncupa. EastWest has 433 stores nationwide to date.
Now on its second year, the EastWest Auto Dealers' Appreciation Night aims to fortify the partnerships built over the years and recognize the auto dealers' contribution to the auto financing industry.