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Philippines Used Car Market Outlook To 2025 (Second edition): The Pandemic Incited Increased Demand for Used Cars coupled with Increased Internet Penetration provides for Resilience in the Used Cars Market during the Economic Crisis

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The report titled “Philippines Used Car Market Outlook To 2025: The Pandemic Incited Increased Demand for Used Cars coupled with Increased Internet Penetration provides for Resilience in the Used Cars Market during the Economic Crisis”- provides a comprehensive analysis of the used car market trends and performance in Philippines. The report covers several aspects such as volume of used cars sold & market size in terms of gross transaction value, target audience, growth facilitators, Government regulations, constraints & challenges faced by the industry, and so on. The report also covers a snapshot on Philippines online used car market, business models, value chain analysis, SWOT analysis, buying decision parameters, competitive scenario and company profiles. Philippines Used Car Industry report concludes with projections for future of the industry market size, market segmentations, the impact of Covid-19, and analyst take on the future market scenario.

Philippines Used Car Market Overview and Size:

Philippines Used Car market is in its growth phase, having grown at a CAGR of 7.4% (by value in PHP Billion) during 2015-2020. A surge in the demand of private cars, coupled with convenient financing facilities, increasing per capita income, increased internet penetration and enhanced digitalization of the used cars space have been the salient factors leading to the growth of the used cars market in the Philippines.

Philippines Used Car Market Segmentations

By Market Structure (Unorganized, and Organized): The used car market in Philippines is primarily dominated by the unorganized segment occupying ~55% of the overall used cars market space. Most of the organized players operate in the Metro Manila region.

By Sales channel (B2C- Multi-brand Dealers, DDSAs, and Bank Repossessed Car Auctions): The used cars in the organized B2C market of Philippines are primarily sold via three channels- multi-brand dealers, Direct Dealership ales Agents, and Banks auctioning repossessed cars. The major share of the Philippines Used Car organized market is captured by the Multi-Brand dealers. On the other hand, volume of cars sold through Bank Repossessed and Direct Dealership Sales Agents is ~10% in the year 2020.

By Source of Lead generation (Online, Dealership walk-ins): In Philippines, the Used Car market has carved a niche in the online space. More than 4/5ths of the lead generation for used cars in the organized segment happened via the online platforms. The DDSAs (OEMs) have their own websites, and pages on social media, whereas several multi-brand dealers prefer listing their inventory on the classified platforms as well. Facebook is gaining traction as an online space for buying and selling used cars in the Philippines.

By Type of Car:  Sedans and SUVs are quite popular in the Philippines. Since the terrain of the country is generally rugged (especially in the Northern Luzon area), the demand for light commercial vehicles such as SUVs and MPVs is quite high. Pickup trucks are also a popular light commercial vehicle type preferred in Philippines.

By Price: The price range of PHP 300k to 500k accounted for the highest percentage share of used cars sold in Philippines in 2020.  Sedans are a widely demanded car type in the country and generally the Sedan used cars fall in this particular price range.

By Brand: Toyota is the market leader in Philippines accounting for the major share of sale of used cars by volume. Japanese brands such as Toyota, Honda, Nissan, Mitsubishi, and others, are the most preferred due to strong brand preference, reliability, longer life span, and higher retention value of the used vehicle

By Region: Most of the used cars market is concentrated in the NCR (Metro Manila) region. Since, it is the most economically developed region in the Philippines, the average age of replacement of cars is quite low, leading to more used cars availability in the area.

By Ownership Period: Generally, any new car in Philippines is owned for 4-6 years before it sold off. Therefore, the average age of used cars in the country also lies within the same bracket.

By Kilometers Driven: Since the average age of a used car in the Philippines is ~5 years and the average mileage of a used car happens to be approximately 50,000 kilometers. Therefore, cars with a mileage of 40,000-60,000 kilometers dominate the used cars market in Philippines in the year 2020.

By Fuel: Gasoline and diesel are the majorly preferred types of fuel in the country. The adoption of electric vehicles is at a very nascent stage accounting less than 1% share in the overall Philippines used car market currently.

Snapshot on Online Used Car Landscape

The online Used Car Market has been gaining traction in the last few years. There has been an immense expansion in the lead generation of used cars via the online means in the last decade. Facebook plays a key role in expanding the used cars market in Philippines. Emergence of online auto-portals and classified platforms such as Carousell, Carmudi, AutoDeal, Philkotse, Automart, etc., have provided increased visibility and credibility to the customer-to-customer transactions in the unorganized segment. The increasing internet penetration of the used cars market in the country is contributing positively to the growth of the industry.

Competitive Landscape of Philippines Used Car Market

There exists intense competition in the highly fragmented market with various OEM certified, brand authorized dealerships, multi-brand outlets & independent (standalone as well as clustered dealers) operating in the industry. While the banks also fall under the B2C organized segment, they do not exhibit any competitive characteristics as their sole purpose of auctioning the repossessed cars is to recover the losses incurred due to the delinquency of the borrowers. In order to compete with OEM certified cars, certain multi-brand dealers have started providing value added services in order to retain and expand their market share. However, the segment remains quite unexploited as not many dealers are currently providing any value added services.

Philippines Used Car Future Outlook & Projections

The used car industry in Philippines is expected to demonstrate a decent growth in the future. It is expected to increase at a five year CAGR of 8.9% (by value in PHP Billion) from 2020 to 2025E. It is expected that the share of the organized segment in the used cars space will increase over time as more brands are planning to enter the OEM pre-owned certified space. Certain foreign established C2B players are too considering Philippines Used Car market a growing and profitable venture. Moreover, people in Philippines are realizing the advantages of buying a pre-owned car and there has been a shift in the general consumer preferences.

Key Segments Covered

  • By Market Structure
    • Organized
    • Unorganized
  • By Sales Channel
    • Multi-brand Dealers
    • Direct Dealership Sales Agents
    • Bank Auctions
    • C2C (Customer to Customer) Transactions
  • By Source of Lead generation
    • Online
    • Dealership walk-ins
  • By Car Segment
    • Sedan
    • Hatchback
    • SUV
    • MPV
    • Pickup Vans
    • Others (convertibles, coupe, crossover, sports vehicles, and many more)
  • By Price
    • Less than PHP 100,000
    • PHP 100,000-300,000
    • PHP 300,000-500,000
    • PHP 500,000-700,000
    • PHP 700,000-1,000,000
    • More than PHP 1,000,000
  • By Brand
    • Toyota
    • Mitsubishi
    • Hyundai
    • Ford
    • Nissan
    • Honda
    • Isuzu
    • Suzuki
    • Others (Kia, Mazda, Mercedes, Audi, and many more)
  • By Region
    • Metro Manila
    • Northern Luzon
    • Southern Luzon (except Metro Manila)
    • Visayas
    • Mindanao
  • By Ownership period
    • Less than 2 years
    • 2-4 years
    • 4-6 years
    • 6-8 years
    • More than 8 years
  • By Mileage
    • Less than 10,000 Kms
    • 10,000-20,000 Kms
    • 20,000-50,000 Kms
    • 50,000-75,000 Kms
    • 75,000-100,000 Kms
    • Above 100,000 Kms
  • By Fuel
    • Petrol
    • Diesel
    • Others (Hybrid and Electric)

Companies Covered

  • OEM Dealerships
    • Toyota Certified
    • Nissan Intelligent Choice
    • BMW Premium Selection
    • Mercedes Benz Certified Pre-owned
  • Banks (Repossessed Car Auctions)
    • EastWest Bank
    • Security Bank
    • BDO Unibank
  • Online Portals – Online Auto Classified Platforms
    • Carmudi
    • Carousell
    • AutoDeal
    • Automart
    • Zigwheels
    • Philkotse
  • Multi-Brand Dealers
    • Carmax
    • Carmix (by Lausgroup)
    • Automobilico
    • All Cars
    • Five Aces
    • Berylle Car Sales

Time Period Captured in the Report:-

  • Historical Period – 2015-2020
  • Forecast Period – 2021-2025

Key Topics Covered in the Report

  • Philippines Used Car Market Overview
  • Philippines Used Car Market Size, 2015-2020
  • Philippines Used Car Market Segmentation, 2020
  • Growth Drivers in Philippines Used Car Market
  • Issues and Challenges in Philippines Used Car Market
  • Government Regulations
  • Ecosystem and Value Chain of Used Car Industry in Philippines
  • Customers Purchase Decision Making Parameters
  • Cross Comparison between Major OEMs and Multi-brand Dealers and Company Profiles & Product Portfolios
  • Snapshot on Online used car market
  • Future Market Size and Segmentations, 2020-2025E
  • Covid-19 Impact on the Industry & the way forward
  • Pricing Analysis (By Age, Mileage, Brand and Car type)
  • Depreciation Calculation Tool
  • Analyst Recommendations
READ MORE

Table Of Content

Scope

Table of Contents
List of Tables
List of Figures

1. Executive Summary
Market Overview
Market Segmentation
Competitive Landscape
Future Scenario

2. Research Methodology
2.1. Market Definitions
2.2. Abbreviations
2.3. Market Sizing and Modeling
Approach- Market Sizing
Market Sizing Approach
Variables Dependent and Independent
Multifactor Based Sensitivity Model
Limitations
Final Conclusion

3. Philippines Used Car Market Value Chain Analysis (Inter-Entity Relationship and Margin Analysis)
3.1. Philippines Used Car Market Ecosystem
3.2. Working Processes Involved in Philippines Used Car market
3.2.1. Upstream Process
3.2.2. Downstream Process

4. Business Models (Offline and Online) of Philippines Used Car Market
4.1. Offline Dealers
4.2. Online Auto Classifieds

5. Customer Profile of Philippines Used Car Market

6. Philippines Used Car Market Size, 2015 – 2020
6.1. Philippines Used Car Market Introduction and Genesis
6.2. Philippines Used Car Market Size by Transaction Value and by Sales Volume, 2015-2020

7. Philippines Used Car Market Segmentation, 2020
7.1. By Market Structure (Organized and Unorganized Market), 2020
7.2. Market Segmentation by Lead Generation for the Organized Segment (Online Lead Generation and Dealership Walk-ins), 2020
7.3. By Origin of Sale for Organized Dealers (Multi-Brand Dealers, Bank Repossessed Cars, and Direct Dealership Sales Agents), 2020
7.4. By Average Ticket Size (Less than PHP 100K, PHP 100K-300K, PHP 300K-500K, PHP 500K-700K, PHP 700K-1M, and PHP 1M and Above), 2020
7.5. By Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon (except Metro Manila), and Mindanao), 2020
7.6. By Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others), 2020
7.7. Type of Fuel (Gasoline, Diesel, Hybrid, and Electric), 2020
7.8. By Type of Vehicle Manufacturer (Japanese, Korean, American, Chinese, German, British and Others), 2020
7.9. By Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki, and Others), 2020
7.10. By Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years), 2020
7.11. By Mileage (Less than 10k, 10k-20k, 20k-50k, 50k-75k, 75k-100k, Above 100k Kms), 2020
7.12. Ordinal Ranking of Major Auto Portals
Classified pages and Used Car Online Portals
7.13. Car Parc in Philippines
Car Parc Trend in Philippines

8. Impact of Covid-19 on Philippines’ used car market
Multiple Trends
Increased Demand
Increased Inventory of Repossessed Cars
Finance Crunch
Adverse Impact on Small Used Car Dealers
Expansion of DDSA

9. Trends and Development in Philippines Used Car Market
Price Discrepancy
Citizens Refraining from Using Public Transport
Motor Vehicle Traffic
Increased Used Car Awareness
Sellers Increasing Awareness
Emergence of Classifieds and Online Auto Portals

10. Challenges and Restraints in the Philippines used car market
Subjective Pricing
Lack of Geographical Area in Philippines
Discrepancy in Value of Transaction between Certified/Repossessed Car Sellers and Multi-Brand Used Car Dealer
High cost of Finance on Pre-Owned Cars
Emergence of Electric Vehicle
Registration and Renewal Process
Presence of SubstituteS
Number Coding Suspended

11. Growth Drivers of Philippines Used Car Market
Financing Facilities
Improved Infrastructure
Organized Segment to expand
Train Tax
Resale Value Comparison Between New and Pre-Owned Cars
Trade-In Concept Adopted By Dealerships Acting as an Enabler to Used car Market
Young Population
Social Media spurring Demand for Pre-owned CARS in Unorganized Market

12. Sales Channels Used in Philippines Used Car Market
Mutli Brand Dealerships
DDSA (Direct Dealership Sales Agent)
Repossesed Car Auctions
Individual Sellers

13. Government Regulations in the Philippines Used Car Market

14. Competitive Landscape in Philippines Used Car Market, 2020
14.1. Competition Parameters (Including Price, Retail Space, Brand Awareness, Value Added Services, Technical Know-How, Sourcing of Cars and Condition of the Vehicle)
14.2. Competitive Scenario in Philippines Used Car Market
Competitive Landscape in Philippines Used Car Market
Market Share of DDSA (Direct Dealership Sales Agents)
Banks Auctioning Repossessed Cars
Multi-Brand Dealers
14.3. Company Profiles of Direct Dealership Sales Agent (DDSA) (Including Company Overview, USP, Business Strategies, Strength, Weakness, Business Model, Marketing Strategy, Global Operations, Pre-Owned Car Sales by Volume, Recent Development and Value Added Services)
14.3.1. Toyota Certified Philippines
14.3.2. Nissan Intelligent Choice Philippines
14.3.3. BMW Premium Selection
14.3.4. Mercedes-Benz Certified
14.3.5. Honda Cars Philippines Inc.
14.4. Company Profiles of Major Online Auto Portals/ Classifieds (Including Company Overview, USP, Business Strategies, No. of Unique Visitors, Listing Charges, Number of Dealers Associated, Recent Developments)
14.4.1. AutoDeal Philippines
14.4.2. Carmudi Philippines
14.4.3. Philkotse Philippines
14.4.4. Carousell Philippines (OLX Philippines)
14.4.5. Zigwheels Philippines
14.4.6. Automart Philippines
14.5. Company Profiles of major banks selling repossessed cars
14.5.1. EastWest Bank Philippines
14.5.2. BDO Unibank Philippines
14.5.3. Security Bank Philippines
14.6. Company Profiles of Major Multi-Brand Dealers Selling Used Cars in the Philippines

15. Philippines Used Car Market Future Outlook and Projections, 2020-2025E
15.1. Philippines Used Car Market Size Future Outlook and Projections, 2020-2025E
15.2. Philippines Used Car Market Scenario Analysis
Philippines Used Car Market Scenario Analysis - Description
15.3. Philippines Used Car Market Future Segmentation, 2025E
15.3.1. By Distribution Channel (Organized and Unorganized), 2025E
15.3.2. By Lead Generation (Online and Direct Dealership Walk-ins), 2025E
15.3.3. By Origin of Sale (Multi Brand Dealers, Direct Dealership Sales Agent, and Repossessed), 2025E
15.3.4. By Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki, and Others), 2025E
15.3.5. By Age of the car (0-2, 2-4, 4-6, 6-8, and above 8 years), 2025E
15.3.6. By Price (less than 100k, 100k-300k, 300k-500k, 500k-700k, 700k-1M, and Above 1 M), 2025E
15.3.7. By Type of Car (Sedan, SUV, Pickup Vans, Hatchbacks, MPV, and Others), 2025E
15.3.8. By Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao), 2025E
15.3.9. By Type of Fuel (Gasoline, Diesel and Others), 2025E
15.3.10. By Mileage (Below 10,000 Kms, 10,000-20,000 Kms, 20,000-50,000 Kms, 50,000-75,000 Kms, 75,000-100,000 Kms, and Above 100,000 Kms), 2025E

16. Pricing Analysis
16.1. Factors Influencing the resale value of a Used Car in Philippines
By Age
By Mileage
By Brand
By Car Type
16.2. Depreciation Calculation Tool
Methodology
Interpretation

17. Analyst Recommendations

18. Appendix
Disclaimer
Contact Us


List Of Figure

Figure 1 1: Flow Chart of Philippines Used Car Market, 2020
Figure 1 2: Philippines Used Car Market Flow Chart, 2025E
Figure 3 1: Value Chain of Philippines Used Car Market including Margins, Source of Procurement and Target Buyers
Figure 3 2: Value Chain of Philippines Used Car Market in Online Space (Inter-Entity Relationship)
Figure 3 3: Upstream Processes in Philippines Used Car Market
Figure 3 4: Downstream Process in Philippines Used Car Market
Figure 4 1: Revenue Streams for Offline Dealers Business Models Prevalent in Philippines Used Car Market
Figure 4 2: Revenue Streams for Online Auto Classifieds Business Models Prevalent in Philippines Used Car Market
Figure 6 1: Philippines Used Car Market Size on the Basis of Sales Volume in Units and Gross Transaction Value in PHP Billion, 2015-2020
Figure 6 2: Philippines Used Car Market Size on the Basis of Total Used Car Sales and Total New Car Sales in Thousand Units, 2015-2020
Figure 6 3: Philippines Used Car Market on the Basis of Used Car to New Car Ratio, 2015-2020
Figure 6 4: Average Ticket Price in Philippines Used Cars Market in PHP, 2015-2020
Figure 7 1: Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized Market Structure) on the Basis of Sales Volume in Percentage, 2020
Figure 7 2: Philippines Used Car Organized Market Segmentation by Lead Generation (Online Lead Generation and Dealership Walk-Ins) on the Basis of Sales in Percentage (%), 2020
Figure 7 3: Philippines Used Car Organized Market Segmentation by Origin of Sale (Multi-Brand Dealers, Bank Repossessed Cars, and Direct Dealership Sales Agents) on the Basis of Sales in Percentage (%), 2020
Figure 7 4: Philippines Used Car Market Segmentation by Average Ticket Size (Less than PHP 100K, PHP 100K-300K, PHP 300K-500K, PHP 500K-700K, PHP 700K-1M, and PHP 1M and Above) on the Basis of Sales in Percentage (%), 2020
Figure 7 5: Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the Basis of Sales in Percentage (%), 2020
Figure 7 6: Philippines Used Car Market Segmentation by Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others) on the Basis of Sales in Percentage (%), 2020
Figure 7 7: Cross Comparison between Type of Vehicle (Sedans, SUVs, Hatchbacks, Pickups and MPVs) including Average Price, Average Car Replacement Age, Major Car Brands, Target Audience, and Target Audience on the basis of Family Size, 2020
Figure 7 8: Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel, Hybrid and Electric) on the Basis of Sales in Percentage (%), 2020
Figure 7 9: Philippines Used Car Market Segmentation by Type of Vehicle Manufacturer- Origin of Country (Japanese, Korean, American, Chinese, German, British, and Others) including Brand on the Basis of Sales in Percentage (%), 2020
Figure 7 10: Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the Basis of Sales in Percentage (%), 2020
Figure 7 11: Philippines Used Car Market Segmentation by Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years) on the Basis of Sales in Percentage (%), 2020
Figure 7 12: Philippines Used Cars Sales in Percentage (%) on the basis of Average Mileage driven (Less than 10k, 10k-20k, 20k-50k, 40k-75k, 75k-100k, Above 100k Kms), 2020
Figure 7 13: Philippines Car Parc on the Basis of Total Number of Cars in Use in the Country, 2015-2020
Figure 8 1: Philippines Used Car Market Sales Trend on the Basis of M-o-M sales (Pre-Covid, Peak-Covid, and Recovery), 2020 (Non-Scale Graph)
Figure 9 1: Estimated Average Price of a Used Car in Philippines, 2015-2020
Figure 14 1: Market Share of Various DDSA’s (Toyota Certified, Honda Philippines, Nissan Intelligent Choice, BMW, Mercedes-Benz Certified and Others) on the Basis of Sales Volume in Percentage (%), 2020
Figure 15 1: Philippines Used Car Market Size Future Projections on the Basis of Sales Volume in Units and Gross Transaction Value in PHP Billion, 2020-2025E
Figure 15 2: Philippines Used Car Market Size Future Projections on the Basis of Total Used Car Sales and Total New Car Sales in Thousand Units, 2020-2025E
Figure 15 3: Philippines Used Car Market Future Projections on the Basis of Used to New Car Ratio, 2020-2025E
Figure 15 4: Philippines Used Car Market future Projections on the Basis of Average Ticket Size in PHP, 2020-2025E
Figure 15 5: Philippines Used Car market Scenario Analysis (Base, Optimistic and Conservative) trends from 2020-2025E
Figure 15 6: Philippines Used Car market Scenario Analysis (Base, Optimistic and Conservative) on the basis of number of used car units sold in 2020, 2021E and 2025E
Figure 15 7: Future Outlook and Projections of Philippines’ Used Car Market Segmentation by Distribution Channel (Online and Offline) in the overall Market on the Basis of Sales in Percentage (%), 2020 and 2025E
Figure 15 8: Future Outlook and Projections of Philippines Used Car Market Segmentation by lead generation (Online and Dealership walk-ins) in the Organized Market on the basis of Sales in Percentage (%), 2020 and 2025E
Figure 15 9: Future Outlook and Projections of Philippines Used Car Market (Organized) Segmentation by Origin of Sale (Multi-Brand Dealers, Direct Dealership Sales Agents, and Repossessed) on the Basis of Sales in Percentage (%), 2020-2025E
Figure 15 10: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the basis of Sales Volume in Percentage (%), 2025E
Figure 15 11: Future Outlook and Projections of Philippines Used Car Market Future Segmentation by Age (0-2, 2-4, 4-6, 6-8, and above 8 years) on the Basis of Sales in Percentage (%), 2025E
Figure 15 12: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (less than 100k, 100k-300k, 300k-500k, 500k-700k, 700k-1M, and Above 1 M) on the Basis of Sales in Percentage (%), 2025E
Figure 15 13: Future Outlook and Projections of Philippines Used Car Market Segmentation by Car Type (Sedan, SUV, Pickup Vans, Hatchbacks, MPV, and Others) on the Basis of Sales in Percentage (%), 2025E
Figure 15 14: Future Outlook and Projections of Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the basis of Sales in Percentage (%), 2025E
Figure 15 15: Future Outlook and Projections of Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel and Others) on the Basis of Sales in Percentage (%), 2025E
Figure 15 16: Future Outlook and Projections of Philippines Used Car Market Segmentation by Mileage (Below 10,000 Kms, 10,000-20,000 Kms, 20,000-50,000 Kms, 50,000-75,000 Kms, 75,000-100,000 Kms, and Above 100,000 Kms) on the Basis of Sales in Percentage (%), 2025E
Figure 16 1: Average Cumulative Depreciation of a Suzuki Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 2: Average Cumulative Depreciation of a Hyundai Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 3: Average Cumulative Depreciation of a Mitsubishi Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 4: Average Cumulative Depreciation of a Nissan Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 5: Average Cumulative Depreciation of a Ford Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 6: Average Cumulative Depreciation of a Toyota Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 7: Average Cumulative Depreciation of a Used Hatchback in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 8: Average Cumulative Depreciation of a Used Sedan in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 9: Average Cumulative Depreciation of a Used MPV in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 10: Average Cumulative Depreciation of a Used Pickup Van in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 11: Average Cumulative Depreciation of a Used SUV in Philippines on the Basis of Percentage (%) over a Period of Ten Years
 

Figure 1‑1: Flow Chart of Philippines Used Car Market, 2020

Figure 1‑2: Philippines Used Car Market Flow Chart, 2025E

Figure 3‑1: Value Chain of Philippines Used Car Market including Margins, Source of Procurement and Target Buyers

Figure 3‑2: Value Chain of Philippines Used Car Market in Online Space (Inter-Entity Relationship)

Figure 3‑3: Upstream Processes in Philippines Used Car Market

Figure 3‑4: Downstream Process in Philippines Used Car Market

Figure 4‑1: RevenueStreamsforOfflineDealersBusinessModelsPrevalentinPhilippines UsedCarMarket

Figure 4‑2: RevenueStreamsforOnlineAutoClassifiedsBusinessModelsPrevalentinPhilippines UsedCarMarket

Figure 6‑1: Philippines Used Car Market Size on the Basis of Sales Volume in Units and Gross Transaction Value in PHP Billion, 2015-2020

Figure 6‑2: Philippines Used Car Market Size on the Basis of Total Used Car Sales and TotalNewCarSalesinThousandUnits,2015-2020

Figure 6‑3: Philippines Used Car Market on the Basis of Used Car to New Car Ratio, 2015-2020

Figure 6‑4: AverageTicketPriceinPhilippinesUsedCarsMarketin PHP, 2015-2020

Figure 7‑1: Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized Market Structure) on the Basis of Sales Volume in Percentage, 2020

Figure 7‑2: Philippines Used Car Organized Market Segmentation by Lead Generation (Online Lead Generation and Dealership Walk-Ins) on the Basis of Sales in Percentage (%), 2020

Figure 7‑3: Philippines Used Car Organized Market Segmentation by Origin of Sale (Multi-Brand Dealers, Bank Repossessed Cars, and Direct Dealership Sales Agents) on the Basis of Sales in Percentage (%), 2020

Figure 7‑4: Philippines Used Car Market Segmentation by Average Ticket Size (Less than PHP 100K, PHP 100K-300K, PHP 300K-500K, PHP 500K-700K, PHP 700K-1M, and PHP 1M and Above) on the Basis of Sales in Percentage (%), 2020

Figure 7‑5: Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the Basis of Sales in Percentage (%), 2020

Figure 7‑6: Philippines Used Car Market Segmentation by Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others) on the Basis of Sales in Percentage (%), 2020

Figure 7‑7: Cross Comparison between Type of Vehicle (Sedans, SUVs, Hatchbacks, Pickups and MPVs) including Average Price, Average Car Replacement Age, Major Car Brands, Target Audience, and Target Audience on the basis of Family Size, 2020

Figure 7‑8: Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel, Hybrid and Electric) on the Basis of Sales in Percentage (%), 2020

Figure 7‑9: Philippines Used Car Market Segmentation by Type of Vehicle Manufacturer- Origin of Country (Japanese, Korean, American, Chinese, German, British, and Others) including Brand on the Basis of Sales in Percentage (%), 2020

Figure 7‑10: Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the Basis of Sales in Percentage (%), 2020

Figure 7‑11: Philippines Used Car Market Segmentation by Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years) on the Basis of Sales in Percentage (%), 2020

Figure 7‑12: Philippines Used Cars Sales in Percentage (%) on the basis of Average Mileage driven (Less than 10k, 10k-20k, 20k-50k, 40k-75k, 75k-100k, Above 100k Kms), 2020

Figure 7‑13: Philippines Car Parc on the Basis of Total Number of Cars in Use in the Country, 2015-2020

Figure 8‑1: Philippines Used Car Market Sales Trend on the Basis of M-o-M sales (Pre-Covid, Peak-Covid, and Recovery), 2020 (Non-Scale Graph)

Figure 9‑1: Estimated Average Price of a Used Car in Philippines, 2015-2020

Figure 14‑1: Market Share of Various DDSA’s (Toyota Certified, Honda Philippines, Nissan Intelligent Choice, BMW, Mercedes-Benz Certified and Others) on the Basis of Sales Volume in Percentage (%), 2020

Figure 15‑1: Philippines Used Car Market Size Future Projections on the Basis of Sales Volume in Units and Gross Transaction Value in PHP Billion, 2020-2025E

Figure 15‑2: Philippines Used Car Market Size Future Projections on the Basis of Total Used Car Sales and TotalNewCarSalesinThousandUnits,2020-2025E

Figure 15‑3: Philippines Used Car Market Future Projections on the Basis of Used to New Car Ratio, 2020-2025E

Figure 15‑4: Philippines Used Car Market future Projections on the Basis of Average Ticket Size in PHP, 2020-2025E

Figure 15‑5: Philippines Used Car market Scenario Analysis (Base, Optimistic and Conservative) trends from 2020-2025E

Figure 15‑6: Philippines Used Car market Scenario Analysis (Base, Optimistic and Conservative) on the basis of number of used car units sold in 2020, 2021E and 2025E

Figure 15‑7: Future Outlook and Projections of Philippines’ Used Car Market Segmentation by Distribution Channel (Online and Offline) in the overall Market on the Basis of Sales in Percentage (%), 2020 and 2025E

Figure 15‑8: Future Outlook and Projections of Philippines Used Car Market Segmentation by lead generation (Online and Dealership walk-ins) in the Organized Market on the basis of Sales in Percentage (%), 2020 and 2025E

Figure 15‑9: Future Outlook and Projections of Philippines Used Car Market (Organized) Segmentation by Origin of Sale (Multi-Brand Dealers, Direct Dealership Sales Agents, and Repossessed) on the Basis of Sales in Percentage (%), 2020-2025E

Figure 15‑10: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the basis of Sales Volume in Percentage (%), 2025E

Figure 15‑11: Future Outlook and Projections of Philippines Used Car Market Future Segmentation by Age (0-2, 2-4, 4-6, 6-8, and above 8 years) on the Basis of Sales in Percentage (%), 2025E

Figure 15‑12: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (less than 100k, 100k-300k, 300k-500k, 500k-700k, 700k-1M, and Above 1 M) on the Basis of Sales in Percentage (%), 2025E

Figure 15‑13: Future Outlook and Projections of Philippines Used Car Market Segmentation by Car Type (Sedan, SUV, Pickup Vans, Hatchbacks, MPV, and Others) on the Basis of Sales in Percentage (%), 2025E

Figure 15‑14: Future Outlook and Projections of Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the basis of Sales in Percentage (%), 2025E

Figure 15‑15: Future Outlook and Projections of Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel and Others) on the Basis of Sales in Percentage (%), 2025E

Figure 15‑16: Future Outlook and Projections of Philippines Used Car Market Segmentation by Mileage (Below 10,000 Kms, 10,000-20,000 Kms, 20,000-50,000 Kms, 50,000-75,000 Kms, 75,000-100,000 Kms, and Above 100,000 Kms) on the Basis of Sales in Percentage (%), 2025E

Figure 16‑1: Average Cumulative Depreciation of a Suzuki Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑2: Average Cumulative Depreciation of a Hyundai Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑3: Average Cumulative Depreciation of a Mitsubishi Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑4: Average Cumulative Depreciation of a Nissan Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑5: Average Cumulative Depreciation of a Ford Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑6: Average Cumulative Depreciation of a Toyota Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑7: Average Cumulative Depreciation of a Used Hatchback in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑8: Average Cumulative Depreciation of a Used Sedan in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑9: Average Cumulative Depreciation of a Used MPV in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑10: Average Cumulative Depreciation of a Used Pickup Van in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑11: Average Cumulative Depreciation of a Used SUV in Philippines on the Basis of Percentage (%) over a Period of Ten Years


List Of Table

Table 2 1: List of Abbreviations
Table 2 2: Sample Size and Composition by Stakeholders
Table 2 3: Sample Size and Composition by Respondent Category
Table 2 4: Correlation Matrix of Philippines Used Car Market
Table 2 5: Regression Coefficients Output for Philippines Used Car Market
Table 3 1: Upstream Process in Philippines Used Car Market
Table 3 2: Downstream Process in Philippines Used Car Market
Table 5 1: Customer Profile of Philippines Used Car Market on the Basis of Demographic Characteristics, Geographical Characteristics and Psychological Characteristics
Table 6 1: Overview of Philippines Used Car Market including Market Genesis, Supply, Sales Channel, Consumer Demand, Consumer Preference and Major Entities involved in the Industry’s Value Chain
Table 6 2: Rationale and Description for Philippines Used Car Market Size by Sales Volume in Units and by Transaction Value in PHP Billion, 2015-2020
Table 7 1: Rationale and Description for Philippines Used Car Market by Market Structure (Organized and Unorganized Market) on the Basis of Sales Volume in Units and Percentage share, 2020
Table 7 2: Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized Market) on the Basis of Sales Volume in Units, 2020
Table 7 3: Philippines Used Car Market Segmentation by Lead Generation (Online Lead Generation and Dealership Walk-Ins) on the basis of Sales Volume in Units, 2020
Table 7 4: Philippines Used Car Organized Market Segmentation by Origin of Sale (Multi-Brand Dealers, Bank Repossessed Cars, and Direct Dealership Sales Agents) on the Basis of Sales in Units, 2020
Table 7 5: Philippines Used Car Market Segmentation by Average Ticket Size (Less than PHP 100K, PHP 100K-300K, PHP 300K-500K, PHP 500K-700K, PHP 700K-1M, and PHP 1M and Above) on the Basis of Sales Volume in Units, 2020
Table 7 6: Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the Basis of Sales Volume in Units, 2020
Table 7 7: Philippines Used Car Market Segmentation by Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others) on the Basis of Sales Volume in Units, 2020
Table 7 8: Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel, Hybrid and Electric) on the Basis of Sales Volume in Units, 2020
Table 7 9: Philippines Used Car Market Segmentation by Type of Vehicle Manufacturer- Origin of Country (Japanese, Korean, American, Chinese, German, British, and Others) including Brand on the Basis of Sales Volume in Units, 2020
Table 7 10: Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the Basis of Sales in Units, 2020
Table 7 11: Philippines Used Car Market Segmentation by Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years) on the Basis of Sales Volume in Units, 2020
Table 7 12: Cross-Comparison of Car Age including Average Price, Body Type, Brands and Target Audience in the Philippines Used Car Market, 2020
Table 7 13: Philippines Used Car Market Segmentation by Average Mileage Driven (Less than 10k, 10k-20k, 20k-50k, 40k-75k, 75k-100k, Above 100k Kms) on the Basis of Sales Volume in Units, 2020
Table 7 14: Number of Used Car Listings on Classified Pages or Online Auto Portals as of 20th September, 2021
Table 11 1: Depreciation Computation on New cars in PHP Million, 2020
Table 11 2: Depreciation Computation on Used Cars in PHP Million, 2020
Table 13 1: Government Regulations prevailing in the Philippines Used Car Market
Table 13 2: Procedure of buying/selling any used car from/in the organized market segment in Philippines
Table 14 1: Competition Parameters in Philippines Used Car Market (Including Price, Retail Space, Brand Awareness, and Value Added Services, Technical Know-How, Sourcing of Cars and Condition of the Vehicle)
Table 14 2: Market Share of Various DDSA’s (Toyota Certified, Nissan Intelligent Choice, Mercedes Benz, BMW Certified and Others) on the Basis of Sales Volume in Units, 2020
Table 14 3: Inventory of Repossessed Cars in the Banks of Philippines, as of 20th September, 2021
Table 14 4: Company Profile of Toyota Certified Philippines Including Company Overview, USP, Business Strategies, Strength, Weakness, Business Model, Marketing Strategy, Global Operations, Other Services, Pre-Owned Car Sales by Volume, Recent Development and Value Added Services
Table 14 5: Location of Toyota Certified Showrooms Selling Used Car in Philippines, 2020
Table 14 6: Best Selling Toyota Certified Cars in Philippines, as of 2020
Table 14 7: Company Profile of Nissan Intelligent Choice Including Company Overview, Location, USP, Business Strategies, Business Model, Marketing Strategy, Volume of Used Cars, Financing Option, Value Added Services and Recent Developments
Table 14 8: Best Selling Pre-Owned Cars sold by Nissan Intelligent Choice in the Philippines, as of 2020
Table 14 9: Company Profile of BMW Premium Selection Certified Including Company Overview, Business Strategy, Warranty, Value Added Services, USP, Number of Car sold, Financing Affiliations, No. of outlets, Inspection and Recent Developments
Table 14 10: Company Profile of Mercedes-Benz Philippines including Company Overview, Location, USP, Business Model, Warranty, Weaknesses, Number of Cars Sold, Inspection, Financing Affiliations, Inventory as of August 2021 and Recent Developments
Table 14 11: Company Profile of Honda Cars Philippines Inc. including Company Overview, USP, Business Strategies, Business Model, Marketing Strategy and Value Added Services
Table 14 12: Company Profile of AutoDeal including Company Overview, USP, Business Strategies, No. of Unique Visitors, Listing Packages, Number of Dealers Associated, Recent Developments, and Value Added Services
Table 14 13: Company Profile of Carmudi Philippines including Company Overview, USP, Marketing Strategies, Business Model, Global Presence, Recent Developments
Table 14 14: Company Profile of Philkotse Philippines Including Company Overview, USP, Business Strategy, Marketing Strategy, Average Number of Dealers listed, New Listings, Unique Visitors
Table 14 15: Company Profile of Carousell Philippines Including Company Overview, USP, Business Model, Vehicle Listing, Recent Developments, Average Listing Charge, Packages Offered and Top brands
Table 14 16: Company Profile of Zigwheels Philippines Including Company Overview, USP, Business Strategy, Vehicle Listing in 2021, Recent Developments, Weaknesses, Value Added services and Revenue Model
Table 14 17: Company Profile of Automart Philippines Including Company Overview, USP, Business Strategy, Vehicle Listing as of 20th September, 2021, Recent Development, Revenue Model, Inspection, Dealers, Warranty, Sales 2020, Value added services, Payment Options, Strength and Weaknesses
Table 14 18: Heat Map Analysis for Online Used Car Players (Auto – Portals) on the Basis of Vehicle Inspection, Financing Facilities, Affiliation with Used Car Dealers, Insurance, Premium Listing Service, and Online Bidding Service, as of 20th September 2021
Table 14 19: Company profile of EastWest Bank Including Bank Overview, Inventory, Business Strategy, Sales, Recent Developments, Inspection, Warranty, and Warehouses
Table 14 20: Company Profile of BDO UniBank including Overview, Inventory, Business Strategy, Recent Developments, Inspection, Warranty, and Warehouses
Table 14 21: Company profile of Security Bank Including Bank Overview, Inventory, Business Strategy, Recent Developments, Inspection, Warranty, Warehouses, and Bidding Procedure
Table 14 22: Comparing the Financing Options of Banks in Philippines for Auto Loans of New and Used Cars on the Basis of Interest Rates and Down Payment Options, as of 20th September 2021
Table 14 23: Company Profiles of Major Multi-brand dealers of Used Cars in the Philippines such as Carmix, Automobilico, Carmax, All Cars, Berylle Car Sales, and Five Aces Used Cars
Table 14 24: Heat Map Analysis for Major Multi Brand Dealers in Philippines Used Car Market on the Basis of Vehicle Inspection, Valuation of a Vehicle, Car Finance Service, After Sale Service, Car Warranty Service, Certification, and Customer Consulting Service, as of 20th September 2021
Table 15 1: Rationale and Description for Philippines Used Car Market Size Future Projections on the Basis of Gross Transaction Value in PHP Billion and Sales Volume in Units, 2020-2025E
Table 15 2: Rationale and Description for Philippines Used Car Market Segmentation by Distribution Channel on the basis of Sales Volume, 2025E
Table 15 3: Future Outlook and Projections of Philippines Used Car Market Segmentation by Distribution Channel (Organized and Unorganized) in the overall Market on the Basis of Sales Volume in Units, 2025E
Table 15 4: Rationale and Description for Philippines Used Car Market Segmentation by Type of Channel (Online and Offline Channel) in the Organized Market on the Basis of Sales Volume, 2025E
Table 15 5: Philippines Used Car Market Segmentation by Type of Channel (Online and Offline Channel) in Organized Market on the basis of Sales Volume in Units, 2025E
Table 15 6: Rationale and Description for Philippines Used Car Market Future Segmentation by Origin of Sale (Multi Brand Dealers, Direct Dealership Sales Agent, and Repossessed) on the Basis of Sales Volume in Units, 2025E
Table 15 7: Future Outlook and Projections of Philippines Used Car Market (Organized) Segmentation by Origin of Sale (Multi Brand Dealers, Direct Dealership Sales Agent, and Repossessed) on the Basis of Sales Volume in Units, 2025E
Table 15 8: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the basis of Sales Volume n Units, 2025E
Table 15 9: Future Outlook and Projections of Philippines Used Car Market Segmentation by Age (0-2, 2-4, 4-6, 6-8, and above 8 years) on the Basis of Sales Volume in Units, 2025E
Table 15 10: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (less than 100k, 100k-300k, 300k-500k, 500k-700k, 700k-1M, and Above 1 M) on the basis of Sales Volume in Percentage (%), 2025E
Table 15 11: Future Outlook and Projections of Philippines Used Car Market Segmentation by Car Type (Sedan, SUV, Pickup Vans, Hatchbacks, MPV, and Others) on the basis of Sales in Units, 2025E
Table 15 12: Future Outlook and Projections of Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the Basis of Sales in Units, 2025E
Table 15 13: Future Outlook and Projections of Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel and Others) on the Basis of Sales Volume in Units, 2025E
Table 15 14: Future Outlook and Projections of Philippines Used Car Future Market Segmentation by Mileage (Below 10,000 Kms, 10,000-20,000 Kms, 20,000-50,000 Kms, 50,000-75,000 Kms, 75,000-100,000 Kms, and Above 100,000 Kms) on the Basis of Sales Volume in Units, 2025E
Table 16 1: Ranking the Different Parameters affecting the Resale Value of a Used Car in Philippines on the Basis of their Importance
Table 16 2: Calculation Tool to Compute the Resale Value of a Used Car in Philippines
Table 17 1: Analyst Recommendation for Philippines Used Car Market
Table 18 1: Year-wise Cumulative Depreciation of the used cars of popular car Brands in the Philippines
Table 18 2: Year-wise Cumulative Depreciation of the used cars of popular car Brands in the Philippines
Table 18 3: Resale Value Equations for Specific Car Brands and Car Types in Philippines
Table 18 4: Specific Models used as References for the Computation Depreciation Equation

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Products and Companies

Products

Key Segments Covered

  • By Market Structure
    • Organized
    • Unorganized
  • By Sales Channel
    • Multi-brand Dealers
    • Direct Dealership Sales Agents
    • Bank Auctions
    • C2C (Customer to Customer) Transactions
  • By Source of Lead generation
    • Online
    • Dealership walk-ins
  • By Car Segment
    • Sedan
    • Hatchback
    • SUV
    • MPV
    • Pickup Vans
    • Others (convertibles, coupe, crossover, sports vehicles, and many more)
  • By Price
    • Less than PHP 100,000
    • PHP 100,000-300,000
    • PHP 300,000-500,000
    • PHP 500,000-700,000
    • PHP 700,000-1,000,000
    • More than PHP 1,000,000
  • By Brand
    • Toyota
    • Mitsubishi
    • Hyundai
    • Ford
    • Nissan
    • Honda
    • Isuzu
    • Suzuki
    • Others (Kia, Mazda, Mercedes, Audi, and many more)
  • By Region
    • Metro Manila
    • Northern Luzon
    • Southern Luzon (except Metro Manila)
    • Visayas
    • Mindanao
  • By Ownership period
    • Less than 2 years
    • 2-4 years
    • 4-6 years
    • 6-8 years
    • More than 8 years
  • By Mileage
    • Less than 10,000 Kms
    • 10,000-20,000 Kms
    • 20,000-50,000 Kms
    • 50,000-75,000 Kms
    • 75,000-100,000 Kms
    • Above 100,000 Kms
  • By Fuel
    • Petrol
    • Diesel
    • Others (Hybrid and Electric)

Time Period Captured in the Report:-

  • Historical Period – 2015-2020
  • Forecast Period – 2021-2025


Companies

Companies Covered

  • OEM Dealerships
    • Toyota Certified
    • Nissan Intelligent Choice
    • BMW Premium Selection
    • Mercedes Benz Certified Pre-owned
  • Banks (Repossessed Car Auctions)
    • EastWest Bank
    • Security Bank
    • BDO Unibank
  • Online Portals – Online Auto Classified Platforms
    • Carmudi
    • Carousell
    • AutoDeal
    • Automart
    • Zigwheels
    • Philkotse
  • Multi-Brand Dealers
    • Carmax
    • Carmix (by Lausgroup)
    • Automobilico
    • All Cars
    • Five Aces
    • Berylle Car Sales

Company Profile

Company Profile Title

The report titled “Philippines Used Car Market Outlook To 2025: The Pandemic Incited Increased Demand for Used Cars coupled with Increased Internet Penetration provides for Resilience in the Used Cars Market during the Economic Crisis”- provides a comprehensive analysis of the used car market trends and performance in Philippines. The report covers several aspects such as volume of used cars sold & market size in terms of gross transaction value, target audience, growth facilitators, Government regulations, constraints & challenges faced by the industry, and so on. The report also covers a snapshot on Philippines online used car market, business models, value chain analysis, SWOT analysis, buying decision parameters, competitive scenario and company profiles. Philippines Used Car Industry report concludes with projections for future of the industry market size, market segmentations, the impact of Covid-19, and analyst take on the future market scenario.

Philippines Used Car Market Overview and Size:

Philippines Used Car market is in its growth phase, having grown at a CAGR of 7.4% (by value in PHP Billion) during 2015-2020. A surge in the demand of private cars, coupled with convenient financing facilities, increasing per capita income, increased internet penetration and enhanced digitalization of the used cars space have been the salient factors leading to the growth of the used cars market in the Philippines.

Philippines Used Car Market Segmentations

By Market Structure (Unorganized, and Organized): The used car market in Philippines is primarily dominated by the unorganized segment occupying ~55% of the overall used cars market space. Most of the organized players operate in the Metro Manila region.

By Sales channel (B2C- Multi-brand Dealers, DDSAs, and Bank Repossessed Car Auctions): The used cars in the organized B2C market of Philippines are primarily sold via three channels- multi-brand dealers, Direct Dealership ales Agents, and Banks auctioning repossessed cars. The major share of the Philippines Used Car organized market is captured by the Multi-Brand dealers. On the other hand, volume of cars sold through Bank Repossessed and Direct Dealership Sales Agents is ~10% in the year 2020.

By Source of Lead generation (Online, Dealership walk-ins): In Philippines, the Used Car market has carved a niche in the online space. More than 4/5ths of the lead generation for used cars in the organized segment happened via the online platforms. The DDSAs (OEMs) have their own websites, and pages on social media, whereas several multi-brand dealers prefer listing their inventory on the classified platforms as well. Facebook is gaining traction as an online space for buying and selling used cars in the Philippines.

By Type of Car:  Sedans and SUVs are quite popular in the Philippines. Since the terrain of the country is generally rugged (especially in the Northern Luzon area), the demand for light commercial vehicles such as SUVs and MPVs is quite high. Pickup trucks are also a popular light commercial vehicle type preferred in Philippines.

By Price: The price range of PHP 300k to 500k accounted for the highest percentage share of used cars sold in Philippines in 2020.  Sedans are a widely demanded car type in the country and generally the Sedan used cars fall in this particular price range.

By Brand: Toyota is the market leader in Philippines accounting for the major share of sale of used cars by volume. Japanese brands such as Toyota, Honda, Nissan, Mitsubishi, and others, are the most preferred due to strong brand preference, reliability, longer life span, and higher retention value of the used vehicle

By Region: Most of the used cars market is concentrated in the NCR (Metro Manila) region. Since, it is the most economically developed region in the Philippines, the average age of replacement of cars is quite low, leading to more used cars availability in the area.

By Ownership Period: Generally, any new car in Philippines is owned for 4-6 years before it sold off. Therefore, the average age of used cars in the country also lies within the same bracket.

By Kilometers Driven: Since the average age of a used car in the Philippines is ~5 years and the average mileage of a used car happens to be approximately 50,000 kilometers. Therefore, cars with a mileage of 40,000-60,000 kilometers dominate the used cars market in Philippines in the year 2020.

By Fuel: Gasoline and diesel are the majorly preferred types of fuel in the country. The adoption of electric vehicles is at a very nascent stage accounting less than 1% share in the overall Philippines used car market currently.

Snapshot on Online Used Car Landscape

The online Used Car Market has been gaining traction in the last few years. There has been an immense expansion in the lead generation of used cars via the online means in the last decade. Facebook plays a key role in expanding the used cars market in Philippines. Emergence of online auto-portals and classified platforms such as Carousell, Carmudi, AutoDeal, Philkotse, Automart, etc., have provided increased visibility and credibility to the customer-to-customer transactions in the unorganized segment. The increasing internet penetration of the used cars market in the country is contributing positively to the growth of the industry.

Competitive Landscape of Philippines Used Car Market

There exists intense competition in the highly fragmented market with various OEM certified, brand authorized dealerships, multi-brand outlets & independent (standalone as well as clustered dealers) operating in the industry. While the banks also fall under the B2C organized segment, they do not exhibit any competitive characteristics as their sole purpose of auctioning the repossessed cars is to recover the losses incurred due to the delinquency of the borrowers. In order to compete with OEM certified cars, certain multi-brand dealers have started providing value added services in order to retain and expand their market share. However, the segment remains quite unexploited as not many dealers are currently providing any value added services.

Philippines Used Car Future Outlook & Projections

The used car industry in Philippines is expected to demonstrate a decent growth in the future. It is expected to increase at a five year CAGR of 8.9% (by value in PHP Billion) from 2020 to 2025E. It is expected that the share of the organized segment in the used cars space will increase over time as more brands are planning to enter the OEM pre-owned certified space. Certain foreign established C2B players are too considering Philippines Used Car market a growing and profitable venture. Moreover, people in Philippines are realizing the advantages of buying a pre-owned car and there has been a shift in the general consumer preferences.

Key Segments Covered

  • By Market Structure
    • Organized
    • Unorganized
  • By Sales Channel
    • Multi-brand Dealers
    • Direct Dealership Sales Agents
    • Bank Auctions
    • C2C (Customer to Customer) Transactions
  • By Source of Lead generation
    • Online
    • Dealership walk-ins
  • By Car Segment
    • Sedan
    • Hatchback
    • SUV
    • MPV
    • Pickup Vans
    • Others (convertibles, coupe, crossover, sports vehicles, and many more)
  • By Price
    • Less than PHP 100,000
    • PHP 100,000-300,000
    • PHP 300,000-500,000
    • PHP 500,000-700,000
    • PHP 700,000-1,000,000
    • More than PHP 1,000,000
  • By Brand
    • Toyota
    • Mitsubishi
    • Hyundai
    • Ford
    • Nissan
    • Honda
    • Isuzu
    • Suzuki
    • Others (Kia, Mazda, Mercedes, Audi, and many more)
  • By Region
    • Metro Manila
    • Northern Luzon
    • Southern Luzon (except Metro Manila)
    • Visayas
    • Mindanao
  • By Ownership period
    • Less than 2 years
    • 2-4 years
    • 4-6 years
    • 6-8 years
    • More than 8 years
  • By Mileage
    • Less than 10,000 Kms
    • 10,000-20,000 Kms
    • 20,000-50,000 Kms
    • 50,000-75,000 Kms
    • 75,000-100,000 Kms
    • Above 100,000 Kms
  • By Fuel
    • Petrol
    • Diesel
    • Others (Hybrid and Electric)

Companies Covered

  • OEM Dealerships
    • Toyota Certified
    • Nissan Intelligent Choice
    • BMW Premium Selection
    • Mercedes Benz Certified Pre-owned
  • Banks (Repossessed Car Auctions)
    • EastWest Bank
    • Security Bank
    • BDO Unibank
  • Online Portals – Online Auto Classified Platforms
    • Carmudi
    • Carousell
    • AutoDeal
    • Automart
    • Zigwheels
    • Philkotse
  • Multi-Brand Dealers
    • Carmax
    • Carmix (by Lausgroup)
    • Automobilico
    • All Cars
    • Five Aces
    • Berylle Car Sales

Time Period Captured in the Report:-

  • Historical Period – 2015-2020
  • Forecast Period – 2021-2025

Key Topics Covered in the Report

  • Philippines Used Car Market Overview
  • Philippines Used Car Market Size, 2015-2020
  • Philippines Used Car Market Segmentation, 2020
  • Growth Drivers in Philippines Used Car Market
  • Issues and Challenges in Philippines Used Car Market
  • Government Regulations
  • Ecosystem and Value Chain of Used Car Industry in Philippines
  • Customers Purchase Decision Making Parameters
  • Cross Comparison between Major OEMs and Multi-brand Dealers and Company Profiles & Product Portfolios
  • Snapshot on Online used car market
  • Future Market Size and Segmentations, 2020-2025E
  • Covid-19 Impact on the Industry & the way forward
  • Pricing Analysis (By Age, Mileage, Brand and Car type)
  • Depreciation Calculation Tool
  • Analyst Recommendations
READ MORE

Scope

Table of Contents
List of Tables
List of Figures

1. Executive Summary
Market Overview
Market Segmentation
Competitive Landscape
Future Scenario

2. Research Methodology
2.1. Market Definitions
2.2. Abbreviations
2.3. Market Sizing and Modeling
Approach- Market Sizing
Market Sizing Approach
Variables Dependent and Independent
Multifactor Based Sensitivity Model
Limitations
Final Conclusion

3. Philippines Used Car Market Value Chain Analysis (Inter-Entity Relationship and Margin Analysis)
3.1. Philippines Used Car Market Ecosystem
3.2. Working Processes Involved in Philippines Used Car market
3.2.1. Upstream Process
3.2.2. Downstream Process

4. Business Models (Offline and Online) of Philippines Used Car Market
4.1. Offline Dealers
4.2. Online Auto Classifieds

5. Customer Profile of Philippines Used Car Market

6. Philippines Used Car Market Size, 2015 – 2020
6.1. Philippines Used Car Market Introduction and Genesis
6.2. Philippines Used Car Market Size by Transaction Value and by Sales Volume, 2015-2020

7. Philippines Used Car Market Segmentation, 2020
7.1. By Market Structure (Organized and Unorganized Market), 2020
7.2. Market Segmentation by Lead Generation for the Organized Segment (Online Lead Generation and Dealership Walk-ins), 2020
7.3. By Origin of Sale for Organized Dealers (Multi-Brand Dealers, Bank Repossessed Cars, and Direct Dealership Sales Agents), 2020
7.4. By Average Ticket Size (Less than PHP 100K, PHP 100K-300K, PHP 300K-500K, PHP 500K-700K, PHP 700K-1M, and PHP 1M and Above), 2020
7.5. By Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon (except Metro Manila), and Mindanao), 2020
7.6. By Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others), 2020
7.7. Type of Fuel (Gasoline, Diesel, Hybrid, and Electric), 2020
7.8. By Type of Vehicle Manufacturer (Japanese, Korean, American, Chinese, German, British and Others), 2020
7.9. By Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki, and Others), 2020
7.10. By Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years), 2020
7.11. By Mileage (Less than 10k, 10k-20k, 20k-50k, 50k-75k, 75k-100k, Above 100k Kms), 2020
7.12. Ordinal Ranking of Major Auto Portals
Classified pages and Used Car Online Portals
7.13. Car Parc in Philippines
Car Parc Trend in Philippines

8. Impact of Covid-19 on Philippines’ used car market
Multiple Trends
Increased Demand
Increased Inventory of Repossessed Cars
Finance Crunch
Adverse Impact on Small Used Car Dealers
Expansion of DDSA

9. Trends and Development in Philippines Used Car Market
Price Discrepancy
Citizens Refraining from Using Public Transport
Motor Vehicle Traffic
Increased Used Car Awareness
Sellers Increasing Awareness
Emergence of Classifieds and Online Auto Portals

10. Challenges and Restraints in the Philippines used car market
Subjective Pricing
Lack of Geographical Area in Philippines
Discrepancy in Value of Transaction between Certified/Repossessed Car Sellers and Multi-Brand Used Car Dealer
High cost of Finance on Pre-Owned Cars
Emergence of Electric Vehicle
Registration and Renewal Process
Presence of SubstituteS
Number Coding Suspended

11. Growth Drivers of Philippines Used Car Market
Financing Facilities
Improved Infrastructure
Organized Segment to expand
Train Tax
Resale Value Comparison Between New and Pre-Owned Cars
Trade-In Concept Adopted By Dealerships Acting as an Enabler to Used car Market
Young Population
Social Media spurring Demand for Pre-owned CARS in Unorganized Market

12. Sales Channels Used in Philippines Used Car Market
Mutli Brand Dealerships
DDSA (Direct Dealership Sales Agent)
Repossesed Car Auctions
Individual Sellers

13. Government Regulations in the Philippines Used Car Market

14. Competitive Landscape in Philippines Used Car Market, 2020
14.1. Competition Parameters (Including Price, Retail Space, Brand Awareness, Value Added Services, Technical Know-How, Sourcing of Cars and Condition of the Vehicle)
14.2. Competitive Scenario in Philippines Used Car Market
Competitive Landscape in Philippines Used Car Market
Market Share of DDSA (Direct Dealership Sales Agents)
Banks Auctioning Repossessed Cars
Multi-Brand Dealers
14.3. Company Profiles of Direct Dealership Sales Agent (DDSA) (Including Company Overview, USP, Business Strategies, Strength, Weakness, Business Model, Marketing Strategy, Global Operations, Pre-Owned Car Sales by Volume, Recent Development and Value Added Services)
14.3.1. Toyota Certified Philippines
14.3.2. Nissan Intelligent Choice Philippines
14.3.3. BMW Premium Selection
14.3.4. Mercedes-Benz Certified
14.3.5. Honda Cars Philippines Inc.
14.4. Company Profiles of Major Online Auto Portals/ Classifieds (Including Company Overview, USP, Business Strategies, No. of Unique Visitors, Listing Charges, Number of Dealers Associated, Recent Developments)
14.4.1. AutoDeal Philippines
14.4.2. Carmudi Philippines
14.4.3. Philkotse Philippines
14.4.4. Carousell Philippines (OLX Philippines)
14.4.5. Zigwheels Philippines
14.4.6. Automart Philippines
14.5. Company Profiles of major banks selling repossessed cars
14.5.1. EastWest Bank Philippines
14.5.2. BDO Unibank Philippines
14.5.3. Security Bank Philippines
14.6. Company Profiles of Major Multi-Brand Dealers Selling Used Cars in the Philippines

15. Philippines Used Car Market Future Outlook and Projections, 2020-2025E
15.1. Philippines Used Car Market Size Future Outlook and Projections, 2020-2025E
15.2. Philippines Used Car Market Scenario Analysis
Philippines Used Car Market Scenario Analysis - Description
15.3. Philippines Used Car Market Future Segmentation, 2025E
15.3.1. By Distribution Channel (Organized and Unorganized), 2025E
15.3.2. By Lead Generation (Online and Direct Dealership Walk-ins), 2025E
15.3.3. By Origin of Sale (Multi Brand Dealers, Direct Dealership Sales Agent, and Repossessed), 2025E
15.3.4. By Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki, and Others), 2025E
15.3.5. By Age of the car (0-2, 2-4, 4-6, 6-8, and above 8 years), 2025E
15.3.6. By Price (less than 100k, 100k-300k, 300k-500k, 500k-700k, 700k-1M, and Above 1 M), 2025E
15.3.7. By Type of Car (Sedan, SUV, Pickup Vans, Hatchbacks, MPV, and Others), 2025E
15.3.8. By Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao), 2025E
15.3.9. By Type of Fuel (Gasoline, Diesel and Others), 2025E
15.3.10. By Mileage (Below 10,000 Kms, 10,000-20,000 Kms, 20,000-50,000 Kms, 50,000-75,000 Kms, 75,000-100,000 Kms, and Above 100,000 Kms), 2025E

16. Pricing Analysis
16.1. Factors Influencing the resale value of a Used Car in Philippines
By Age
By Mileage
By Brand
By Car Type
16.2. Depreciation Calculation Tool
Methodology
Interpretation

17. Analyst Recommendations

18. Appendix
Disclaimer
Contact Us


List Of Figure

Figure 1 1: Flow Chart of Philippines Used Car Market, 2020
Figure 1 2: Philippines Used Car Market Flow Chart, 2025E
Figure 3 1: Value Chain of Philippines Used Car Market including Margins, Source of Procurement and Target Buyers
Figure 3 2: Value Chain of Philippines Used Car Market in Online Space (Inter-Entity Relationship)
Figure 3 3: Upstream Processes in Philippines Used Car Market
Figure 3 4: Downstream Process in Philippines Used Car Market
Figure 4 1: Revenue Streams for Offline Dealers Business Models Prevalent in Philippines Used Car Market
Figure 4 2: Revenue Streams for Online Auto Classifieds Business Models Prevalent in Philippines Used Car Market
Figure 6 1: Philippines Used Car Market Size on the Basis of Sales Volume in Units and Gross Transaction Value in PHP Billion, 2015-2020
Figure 6 2: Philippines Used Car Market Size on the Basis of Total Used Car Sales and Total New Car Sales in Thousand Units, 2015-2020
Figure 6 3: Philippines Used Car Market on the Basis of Used Car to New Car Ratio, 2015-2020
Figure 6 4: Average Ticket Price in Philippines Used Cars Market in PHP, 2015-2020
Figure 7 1: Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized Market Structure) on the Basis of Sales Volume in Percentage, 2020
Figure 7 2: Philippines Used Car Organized Market Segmentation by Lead Generation (Online Lead Generation and Dealership Walk-Ins) on the Basis of Sales in Percentage (%), 2020
Figure 7 3: Philippines Used Car Organized Market Segmentation by Origin of Sale (Multi-Brand Dealers, Bank Repossessed Cars, and Direct Dealership Sales Agents) on the Basis of Sales in Percentage (%), 2020
Figure 7 4: Philippines Used Car Market Segmentation by Average Ticket Size (Less than PHP 100K, PHP 100K-300K, PHP 300K-500K, PHP 500K-700K, PHP 700K-1M, and PHP 1M and Above) on the Basis of Sales in Percentage (%), 2020
Figure 7 5: Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the Basis of Sales in Percentage (%), 2020
Figure 7 6: Philippines Used Car Market Segmentation by Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others) on the Basis of Sales in Percentage (%), 2020
Figure 7 7: Cross Comparison between Type of Vehicle (Sedans, SUVs, Hatchbacks, Pickups and MPVs) including Average Price, Average Car Replacement Age, Major Car Brands, Target Audience, and Target Audience on the basis of Family Size, 2020
Figure 7 8: Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel, Hybrid and Electric) on the Basis of Sales in Percentage (%), 2020
Figure 7 9: Philippines Used Car Market Segmentation by Type of Vehicle Manufacturer- Origin of Country (Japanese, Korean, American, Chinese, German, British, and Others) including Brand on the Basis of Sales in Percentage (%), 2020
Figure 7 10: Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the Basis of Sales in Percentage (%), 2020
Figure 7 11: Philippines Used Car Market Segmentation by Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years) on the Basis of Sales in Percentage (%), 2020
Figure 7 12: Philippines Used Cars Sales in Percentage (%) on the basis of Average Mileage driven (Less than 10k, 10k-20k, 20k-50k, 40k-75k, 75k-100k, Above 100k Kms), 2020
Figure 7 13: Philippines Car Parc on the Basis of Total Number of Cars in Use in the Country, 2015-2020
Figure 8 1: Philippines Used Car Market Sales Trend on the Basis of M-o-M sales (Pre-Covid, Peak-Covid, and Recovery), 2020 (Non-Scale Graph)
Figure 9 1: Estimated Average Price of a Used Car in Philippines, 2015-2020
Figure 14 1: Market Share of Various DDSA’s (Toyota Certified, Honda Philippines, Nissan Intelligent Choice, BMW, Mercedes-Benz Certified and Others) on the Basis of Sales Volume in Percentage (%), 2020
Figure 15 1: Philippines Used Car Market Size Future Projections on the Basis of Sales Volume in Units and Gross Transaction Value in PHP Billion, 2020-2025E
Figure 15 2: Philippines Used Car Market Size Future Projections on the Basis of Total Used Car Sales and Total New Car Sales in Thousand Units, 2020-2025E
Figure 15 3: Philippines Used Car Market Future Projections on the Basis of Used to New Car Ratio, 2020-2025E
Figure 15 4: Philippines Used Car Market future Projections on the Basis of Average Ticket Size in PHP, 2020-2025E
Figure 15 5: Philippines Used Car market Scenario Analysis (Base, Optimistic and Conservative) trends from 2020-2025E
Figure 15 6: Philippines Used Car market Scenario Analysis (Base, Optimistic and Conservative) on the basis of number of used car units sold in 2020, 2021E and 2025E
Figure 15 7: Future Outlook and Projections of Philippines’ Used Car Market Segmentation by Distribution Channel (Online and Offline) in the overall Market on the Basis of Sales in Percentage (%), 2020 and 2025E
Figure 15 8: Future Outlook and Projections of Philippines Used Car Market Segmentation by lead generation (Online and Dealership walk-ins) in the Organized Market on the basis of Sales in Percentage (%), 2020 and 2025E
Figure 15 9: Future Outlook and Projections of Philippines Used Car Market (Organized) Segmentation by Origin of Sale (Multi-Brand Dealers, Direct Dealership Sales Agents, and Repossessed) on the Basis of Sales in Percentage (%), 2020-2025E
Figure 15 10: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the basis of Sales Volume in Percentage (%), 2025E
Figure 15 11: Future Outlook and Projections of Philippines Used Car Market Future Segmentation by Age (0-2, 2-4, 4-6, 6-8, and above 8 years) on the Basis of Sales in Percentage (%), 2025E
Figure 15 12: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (less than 100k, 100k-300k, 300k-500k, 500k-700k, 700k-1M, and Above 1 M) on the Basis of Sales in Percentage (%), 2025E
Figure 15 13: Future Outlook and Projections of Philippines Used Car Market Segmentation by Car Type (Sedan, SUV, Pickup Vans, Hatchbacks, MPV, and Others) on the Basis of Sales in Percentage (%), 2025E
Figure 15 14: Future Outlook and Projections of Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the basis of Sales in Percentage (%), 2025E
Figure 15 15: Future Outlook and Projections of Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel and Others) on the Basis of Sales in Percentage (%), 2025E
Figure 15 16: Future Outlook and Projections of Philippines Used Car Market Segmentation by Mileage (Below 10,000 Kms, 10,000-20,000 Kms, 20,000-50,000 Kms, 50,000-75,000 Kms, 75,000-100,000 Kms, and Above 100,000 Kms) on the Basis of Sales in Percentage (%), 2025E
Figure 16 1: Average Cumulative Depreciation of a Suzuki Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 2: Average Cumulative Depreciation of a Hyundai Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 3: Average Cumulative Depreciation of a Mitsubishi Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 4: Average Cumulative Depreciation of a Nissan Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 5: Average Cumulative Depreciation of a Ford Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 6: Average Cumulative Depreciation of a Toyota Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 7: Average Cumulative Depreciation of a Used Hatchback in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 8: Average Cumulative Depreciation of a Used Sedan in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 9: Average Cumulative Depreciation of a Used MPV in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 10: Average Cumulative Depreciation of a Used Pickup Van in Philippines on the Basis of Percentage (%) over a Period of Ten Years
Figure 16 11: Average Cumulative Depreciation of a Used SUV in Philippines on the Basis of Percentage (%) over a Period of Ten Years
 

Figure 1‑1: Flow Chart of Philippines Used Car Market, 2020

Figure 1‑2: Philippines Used Car Market Flow Chart, 2025E

Figure 3‑1: Value Chain of Philippines Used Car Market including Margins, Source of Procurement and Target Buyers

Figure 3‑2: Value Chain of Philippines Used Car Market in Online Space (Inter-Entity Relationship)

Figure 3‑3: Upstream Processes in Philippines Used Car Market

Figure 3‑4: Downstream Process in Philippines Used Car Market

Figure 4‑1: RevenueStreamsforOfflineDealersBusinessModelsPrevalentinPhilippines UsedCarMarket

Figure 4‑2: RevenueStreamsforOnlineAutoClassifiedsBusinessModelsPrevalentinPhilippines UsedCarMarket

Figure 6‑1: Philippines Used Car Market Size on the Basis of Sales Volume in Units and Gross Transaction Value in PHP Billion, 2015-2020

Figure 6‑2: Philippines Used Car Market Size on the Basis of Total Used Car Sales and TotalNewCarSalesinThousandUnits,2015-2020

Figure 6‑3: Philippines Used Car Market on the Basis of Used Car to New Car Ratio, 2015-2020

Figure 6‑4: AverageTicketPriceinPhilippinesUsedCarsMarketin PHP, 2015-2020

Figure 7‑1: Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized Market Structure) on the Basis of Sales Volume in Percentage, 2020

Figure 7‑2: Philippines Used Car Organized Market Segmentation by Lead Generation (Online Lead Generation and Dealership Walk-Ins) on the Basis of Sales in Percentage (%), 2020

Figure 7‑3: Philippines Used Car Organized Market Segmentation by Origin of Sale (Multi-Brand Dealers, Bank Repossessed Cars, and Direct Dealership Sales Agents) on the Basis of Sales in Percentage (%), 2020

Figure 7‑4: Philippines Used Car Market Segmentation by Average Ticket Size (Less than PHP 100K, PHP 100K-300K, PHP 300K-500K, PHP 500K-700K, PHP 700K-1M, and PHP 1M and Above) on the Basis of Sales in Percentage (%), 2020

Figure 7‑5: Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the Basis of Sales in Percentage (%), 2020

Figure 7‑6: Philippines Used Car Market Segmentation by Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others) on the Basis of Sales in Percentage (%), 2020

Figure 7‑7: Cross Comparison between Type of Vehicle (Sedans, SUVs, Hatchbacks, Pickups and MPVs) including Average Price, Average Car Replacement Age, Major Car Brands, Target Audience, and Target Audience on the basis of Family Size, 2020

Figure 7‑8: Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel, Hybrid and Electric) on the Basis of Sales in Percentage (%), 2020

Figure 7‑9: Philippines Used Car Market Segmentation by Type of Vehicle Manufacturer- Origin of Country (Japanese, Korean, American, Chinese, German, British, and Others) including Brand on the Basis of Sales in Percentage (%), 2020

Figure 7‑10: Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the Basis of Sales in Percentage (%), 2020

Figure 7‑11: Philippines Used Car Market Segmentation by Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years) on the Basis of Sales in Percentage (%), 2020

Figure 7‑12: Philippines Used Cars Sales in Percentage (%) on the basis of Average Mileage driven (Less than 10k, 10k-20k, 20k-50k, 40k-75k, 75k-100k, Above 100k Kms), 2020

Figure 7‑13: Philippines Car Parc on the Basis of Total Number of Cars in Use in the Country, 2015-2020

Figure 8‑1: Philippines Used Car Market Sales Trend on the Basis of M-o-M sales (Pre-Covid, Peak-Covid, and Recovery), 2020 (Non-Scale Graph)

Figure 9‑1: Estimated Average Price of a Used Car in Philippines, 2015-2020

Figure 14‑1: Market Share of Various DDSA’s (Toyota Certified, Honda Philippines, Nissan Intelligent Choice, BMW, Mercedes-Benz Certified and Others) on the Basis of Sales Volume in Percentage (%), 2020

Figure 15‑1: Philippines Used Car Market Size Future Projections on the Basis of Sales Volume in Units and Gross Transaction Value in PHP Billion, 2020-2025E

Figure 15‑2: Philippines Used Car Market Size Future Projections on the Basis of Total Used Car Sales and TotalNewCarSalesinThousandUnits,2020-2025E

Figure 15‑3: Philippines Used Car Market Future Projections on the Basis of Used to New Car Ratio, 2020-2025E

Figure 15‑4: Philippines Used Car Market future Projections on the Basis of Average Ticket Size in PHP, 2020-2025E

Figure 15‑5: Philippines Used Car market Scenario Analysis (Base, Optimistic and Conservative) trends from 2020-2025E

Figure 15‑6: Philippines Used Car market Scenario Analysis (Base, Optimistic and Conservative) on the basis of number of used car units sold in 2020, 2021E and 2025E

Figure 15‑7: Future Outlook and Projections of Philippines’ Used Car Market Segmentation by Distribution Channel (Online and Offline) in the overall Market on the Basis of Sales in Percentage (%), 2020 and 2025E

Figure 15‑8: Future Outlook and Projections of Philippines Used Car Market Segmentation by lead generation (Online and Dealership walk-ins) in the Organized Market on the basis of Sales in Percentage (%), 2020 and 2025E

Figure 15‑9: Future Outlook and Projections of Philippines Used Car Market (Organized) Segmentation by Origin of Sale (Multi-Brand Dealers, Direct Dealership Sales Agents, and Repossessed) on the Basis of Sales in Percentage (%), 2020-2025E

Figure 15‑10: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the basis of Sales Volume in Percentage (%), 2025E

Figure 15‑11: Future Outlook and Projections of Philippines Used Car Market Future Segmentation by Age (0-2, 2-4, 4-6, 6-8, and above 8 years) on the Basis of Sales in Percentage (%), 2025E

Figure 15‑12: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (less than 100k, 100k-300k, 300k-500k, 500k-700k, 700k-1M, and Above 1 M) on the Basis of Sales in Percentage (%), 2025E

Figure 15‑13: Future Outlook and Projections of Philippines Used Car Market Segmentation by Car Type (Sedan, SUV, Pickup Vans, Hatchbacks, MPV, and Others) on the Basis of Sales in Percentage (%), 2025E

Figure 15‑14: Future Outlook and Projections of Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the basis of Sales in Percentage (%), 2025E

Figure 15‑15: Future Outlook and Projections of Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel and Others) on the Basis of Sales in Percentage (%), 2025E

Figure 15‑16: Future Outlook and Projections of Philippines Used Car Market Segmentation by Mileage (Below 10,000 Kms, 10,000-20,000 Kms, 20,000-50,000 Kms, 50,000-75,000 Kms, 75,000-100,000 Kms, and Above 100,000 Kms) on the Basis of Sales in Percentage (%), 2025E

Figure 16‑1: Average Cumulative Depreciation of a Suzuki Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑2: Average Cumulative Depreciation of a Hyundai Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑3: Average Cumulative Depreciation of a Mitsubishi Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑4: Average Cumulative Depreciation of a Nissan Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑5: Average Cumulative Depreciation of a Ford Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑6: Average Cumulative Depreciation of a Toyota Used Car in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑7: Average Cumulative Depreciation of a Used Hatchback in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑8: Average Cumulative Depreciation of a Used Sedan in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑9: Average Cumulative Depreciation of a Used MPV in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑10: Average Cumulative Depreciation of a Used Pickup Van in Philippines on the Basis of Percentage (%) over a Period of Ten Years

Figure 16‑11: Average Cumulative Depreciation of a Used SUV in Philippines on the Basis of Percentage (%) over a Period of Ten Years


List Of Table

Table 2 1: List of Abbreviations
Table 2 2: Sample Size and Composition by Stakeholders
Table 2 3: Sample Size and Composition by Respondent Category
Table 2 4: Correlation Matrix of Philippines Used Car Market
Table 2 5: Regression Coefficients Output for Philippines Used Car Market
Table 3 1: Upstream Process in Philippines Used Car Market
Table 3 2: Downstream Process in Philippines Used Car Market
Table 5 1: Customer Profile of Philippines Used Car Market on the Basis of Demographic Characteristics, Geographical Characteristics and Psychological Characteristics
Table 6 1: Overview of Philippines Used Car Market including Market Genesis, Supply, Sales Channel, Consumer Demand, Consumer Preference and Major Entities involved in the Industry’s Value Chain
Table 6 2: Rationale and Description for Philippines Used Car Market Size by Sales Volume in Units and by Transaction Value in PHP Billion, 2015-2020
Table 7 1: Rationale and Description for Philippines Used Car Market by Market Structure (Organized and Unorganized Market) on the Basis of Sales Volume in Units and Percentage share, 2020
Table 7 2: Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized Market) on the Basis of Sales Volume in Units, 2020
Table 7 3: Philippines Used Car Market Segmentation by Lead Generation (Online Lead Generation and Dealership Walk-Ins) on the basis of Sales Volume in Units, 2020
Table 7 4: Philippines Used Car Organized Market Segmentation by Origin of Sale (Multi-Brand Dealers, Bank Repossessed Cars, and Direct Dealership Sales Agents) on the Basis of Sales in Units, 2020
Table 7 5: Philippines Used Car Market Segmentation by Average Ticket Size (Less than PHP 100K, PHP 100K-300K, PHP 300K-500K, PHP 500K-700K, PHP 700K-1M, and PHP 1M and Above) on the Basis of Sales Volume in Units, 2020
Table 7 6: Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the Basis of Sales Volume in Units, 2020
Table 7 7: Philippines Used Car Market Segmentation by Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others) on the Basis of Sales Volume in Units, 2020
Table 7 8: Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel, Hybrid and Electric) on the Basis of Sales Volume in Units, 2020
Table 7 9: Philippines Used Car Market Segmentation by Type of Vehicle Manufacturer- Origin of Country (Japanese, Korean, American, Chinese, German, British, and Others) including Brand on the Basis of Sales Volume in Units, 2020
Table 7 10: Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the Basis of Sales in Units, 2020
Table 7 11: Philippines Used Car Market Segmentation by Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years) on the Basis of Sales Volume in Units, 2020
Table 7 12: Cross-Comparison of Car Age including Average Price, Body Type, Brands and Target Audience in the Philippines Used Car Market, 2020
Table 7 13: Philippines Used Car Market Segmentation by Average Mileage Driven (Less than 10k, 10k-20k, 20k-50k, 40k-75k, 75k-100k, Above 100k Kms) on the Basis of Sales Volume in Units, 2020
Table 7 14: Number of Used Car Listings on Classified Pages or Online Auto Portals as of 20th September, 2021
Table 11 1: Depreciation Computation on New cars in PHP Million, 2020
Table 11 2: Depreciation Computation on Used Cars in PHP Million, 2020
Table 13 1: Government Regulations prevailing in the Philippines Used Car Market
Table 13 2: Procedure of buying/selling any used car from/in the organized market segment in Philippines
Table 14 1: Competition Parameters in Philippines Used Car Market (Including Price, Retail Space, Brand Awareness, and Value Added Services, Technical Know-How, Sourcing of Cars and Condition of the Vehicle)
Table 14 2: Market Share of Various DDSA’s (Toyota Certified, Nissan Intelligent Choice, Mercedes Benz, BMW Certified and Others) on the Basis of Sales Volume in Units, 2020
Table 14 3: Inventory of Repossessed Cars in the Banks of Philippines, as of 20th September, 2021
Table 14 4: Company Profile of Toyota Certified Philippines Including Company Overview, USP, Business Strategies, Strength, Weakness, Business Model, Marketing Strategy, Global Operations, Other Services, Pre-Owned Car Sales by Volume, Recent Development and Value Added Services
Table 14 5: Location of Toyota Certified Showrooms Selling Used Car in Philippines, 2020
Table 14 6: Best Selling Toyota Certified Cars in Philippines, as of 2020
Table 14 7: Company Profile of Nissan Intelligent Choice Including Company Overview, Location, USP, Business Strategies, Business Model, Marketing Strategy, Volume of Used Cars, Financing Option, Value Added Services and Recent Developments
Table 14 8: Best Selling Pre-Owned Cars sold by Nissan Intelligent Choice in the Philippines, as of 2020
Table 14 9: Company Profile of BMW Premium Selection Certified Including Company Overview, Business Strategy, Warranty, Value Added Services, USP, Number of Car sold, Financing Affiliations, No. of outlets, Inspection and Recent Developments
Table 14 10: Company Profile of Mercedes-Benz Philippines including Company Overview, Location, USP, Business Model, Warranty, Weaknesses, Number of Cars Sold, Inspection, Financing Affiliations, Inventory as of August 2021 and Recent Developments
Table 14 11: Company Profile of Honda Cars Philippines Inc. including Company Overview, USP, Business Strategies, Business Model, Marketing Strategy and Value Added Services
Table 14 12: Company Profile of AutoDeal including Company Overview, USP, Business Strategies, No. of Unique Visitors, Listing Packages, Number of Dealers Associated, Recent Developments, and Value Added Services
Table 14 13: Company Profile of Carmudi Philippines including Company Overview, USP, Marketing Strategies, Business Model, Global Presence, Recent Developments
Table 14 14: Company Profile of Philkotse Philippines Including Company Overview, USP, Business Strategy, Marketing Strategy, Average Number of Dealers listed, New Listings, Unique Visitors
Table 14 15: Company Profile of Carousell Philippines Including Company Overview, USP, Business Model, Vehicle Listing, Recent Developments, Average Listing Charge, Packages Offered and Top brands
Table 14 16: Company Profile of Zigwheels Philippines Including Company Overview, USP, Business Strategy, Vehicle Listing in 2021, Recent Developments, Weaknesses, Value Added services and Revenue Model
Table 14 17: Company Profile of Automart Philippines Including Company Overview, USP, Business Strategy, Vehicle Listing as of 20th September, 2021, Recent Development, Revenue Model, Inspection, Dealers, Warranty, Sales 2020, Value added services, Payment Options, Strength and Weaknesses
Table 14 18: Heat Map Analysis for Online Used Car Players (Auto – Portals) on the Basis of Vehicle Inspection, Financing Facilities, Affiliation with Used Car Dealers, Insurance, Premium Listing Service, and Online Bidding Service, as of 20th September 2021
Table 14 19: Company profile of EastWest Bank Including Bank Overview, Inventory, Business Strategy, Sales, Recent Developments, Inspection, Warranty, and Warehouses
Table 14 20: Company Profile of BDO UniBank including Overview, Inventory, Business Strategy, Recent Developments, Inspection, Warranty, and Warehouses
Table 14 21: Company profile of Security Bank Including Bank Overview, Inventory, Business Strategy, Recent Developments, Inspection, Warranty, Warehouses, and Bidding Procedure
Table 14 22: Comparing the Financing Options of Banks in Philippines for Auto Loans of New and Used Cars on the Basis of Interest Rates and Down Payment Options, as of 20th September 2021
Table 14 23: Company Profiles of Major Multi-brand dealers of Used Cars in the Philippines such as Carmix, Automobilico, Carmax, All Cars, Berylle Car Sales, and Five Aces Used Cars
Table 14 24: Heat Map Analysis for Major Multi Brand Dealers in Philippines Used Car Market on the Basis of Vehicle Inspection, Valuation of a Vehicle, Car Finance Service, After Sale Service, Car Warranty Service, Certification, and Customer Consulting Service, as of 20th September 2021
Table 15 1: Rationale and Description for Philippines Used Car Market Size Future Projections on the Basis of Gross Transaction Value in PHP Billion and Sales Volume in Units, 2020-2025E
Table 15 2: Rationale and Description for Philippines Used Car Market Segmentation by Distribution Channel on the basis of Sales Volume, 2025E
Table 15 3: Future Outlook and Projections of Philippines Used Car Market Segmentation by Distribution Channel (Organized and Unorganized) in the overall Market on the Basis of Sales Volume in Units, 2025E
Table 15 4: Rationale and Description for Philippines Used Car Market Segmentation by Type of Channel (Online and Offline Channel) in the Organized Market on the Basis of Sales Volume, 2025E
Table 15 5: Philippines Used Car Market Segmentation by Type of Channel (Online and Offline Channel) in Organized Market on the basis of Sales Volume in Units, 2025E
Table 15 6: Rationale and Description for Philippines Used Car Market Future Segmentation by Origin of Sale (Multi Brand Dealers, Direct Dealership Sales Agent, and Repossessed) on the Basis of Sales Volume in Units, 2025E
Table 15 7: Future Outlook and Projections of Philippines Used Car Market (Organized) Segmentation by Origin of Sale (Multi Brand Dealers, Direct Dealership Sales Agent, and Repossessed) on the Basis of Sales Volume in Units, 2025E
Table 15 8: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the basis of Sales Volume n Units, 2025E
Table 15 9: Future Outlook and Projections of Philippines Used Car Market Segmentation by Age (0-2, 2-4, 4-6, 6-8, and above 8 years) on the Basis of Sales Volume in Units, 2025E
Table 15 10: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (less than 100k, 100k-300k, 300k-500k, 500k-700k, 700k-1M, and Above 1 M) on the basis of Sales Volume in Percentage (%), 2025E
Table 15 11: Future Outlook and Projections of Philippines Used Car Market Segmentation by Car Type (Sedan, SUV, Pickup Vans, Hatchbacks, MPV, and Others) on the basis of Sales in Units, 2025E
Table 15 12: Future Outlook and Projections of Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the Basis of Sales in Units, 2025E
Table 15 13: Future Outlook and Projections of Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel and Others) on the Basis of Sales Volume in Units, 2025E
Table 15 14: Future Outlook and Projections of Philippines Used Car Future Market Segmentation by Mileage (Below 10,000 Kms, 10,000-20,000 Kms, 20,000-50,000 Kms, 50,000-75,000 Kms, 75,000-100,000 Kms, and Above 100,000 Kms) on the Basis of Sales Volume in Units, 2025E
Table 16 1: Ranking the Different Parameters affecting the Resale Value of a Used Car in Philippines on the Basis of their Importance
Table 16 2: Calculation Tool to Compute the Resale Value of a Used Car in Philippines
Table 17 1: Analyst Recommendation for Philippines Used Car Market
Table 18 1: Year-wise Cumulative Depreciation of the used cars of popular car Brands in the Philippines
Table 18 2: Year-wise Cumulative Depreciation of the used cars of popular car Brands in the Philippines
Table 18 3: Resale Value Equations for Specific Car Brands and Car Types in Philippines
Table 18 4: Specific Models used as References for the Computation Depreciation Equation

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Products

Key Segments Covered

  • By Market Structure
    • Organized
    • Unorganized
  • By Sales Channel
    • Multi-brand Dealers
    • Direct Dealership Sales Agents
    • Bank Auctions
    • C2C (Customer to Customer) Transactions
  • By Source of Lead generation
    • Online
    • Dealership walk-ins
  • By Car Segment
    • Sedan
    • Hatchback
    • SUV
    • MPV
    • Pickup Vans
    • Others (convertibles, coupe, crossover, sports vehicles, and many more)
  • By Price
    • Less than PHP 100,000
    • PHP 100,000-300,000
    • PHP 300,000-500,000
    • PHP 500,000-700,000
    • PHP 700,000-1,000,000
    • More than PHP 1,000,000
  • By Brand
    • Toyota
    • Mitsubishi
    • Hyundai
    • Ford
    • Nissan
    • Honda
    • Isuzu
    • Suzuki
    • Others (Kia, Mazda, Mercedes, Audi, and many more)
  • By Region
    • Metro Manila
    • Northern Luzon
    • Southern Luzon (except Metro Manila)
    • Visayas
    • Mindanao
  • By Ownership period
    • Less than 2 years
    • 2-4 years
    • 4-6 years
    • 6-8 years
    • More than 8 years
  • By Mileage
    • Less than 10,000 Kms
    • 10,000-20,000 Kms
    • 20,000-50,000 Kms
    • 50,000-75,000 Kms
    • 75,000-100,000 Kms
    • Above 100,000 Kms
  • By Fuel
    • Petrol
    • Diesel
    • Others (Hybrid and Electric)

Time Period Captured in the Report:-

  • Historical Period – 2015-2020
  • Forecast Period – 2021-2025


Companies

Companies Covered

  • OEM Dealerships
    • Toyota Certified
    • Nissan Intelligent Choice
    • BMW Premium Selection
    • Mercedes Benz Certified Pre-owned
  • Banks (Repossessed Car Auctions)
    • EastWest Bank
    • Security Bank
    • BDO Unibank
  • Online Portals – Online Auto Classified Platforms
    • Carmudi
    • Carousell
    • AutoDeal
    • Automart
    • Zigwheels
    • Philkotse
  • Multi-Brand Dealers
    • Carmax
    • Carmix (by Lausgroup)
    • Automobilico
    • All Cars
    • Five Aces
    • Berylle Car Sales