Philippines Used Car Market is Driven by Growing Online Auto Portals, Increase in Taxes for New Vehicles and Emergence of Certified Pre-Owned Cars: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Philippines Used Car Market: – “The key factors driving growth in the Philippines used car Industry is digitalization via online auto portals, classified pages, and social media advertisements. The banks repossessed car auctions, certified cars supplied by Direct Dealership Sales Agents (DDSA) and refurbished cars sold by multi-brand dealers have also significantly contributed to the growth of the Philippines used car market”. The report titled “Philippines Used Car Market Outlook to 2023- by Market Structure (Organized and Unorganized Market), by Origin of Sale (Direct Dealership Sales Agent, Repossessed Units Sold By Banks and Multi-Brand Dealers), By Sales Channel (Online and Dealership Walk-ins), by Average Vehicle Replacement Period and by Major Car Manufacturer Brands” Ken Research suggests a four-year CAGR of close to 8.0% on the basis of used car sales volume for the time period 2014-2018. Market Overview: Philippines used car market has been identified at a growth stage with a growing appetite for certified pre-owned cars sold by Direct Dealership Sales Agents (DDSA).The used car volumes in Philippines have been growing at a four-year CAGR of 8.0% between 2014- 2018. The overall competition stage of the market is fragmented in nature with the unorganized market dominating the market in terms of used car sales volumes. In the organized market, the market is fairly concentrated as the DDSA and Repossessed cars auctioned by the banks are limited in number, however, the multi-brand dealers in the country are bit fragmented. Value Added Services: The organized players in the market consisting of DDSA, repossessed car auctioneers and multi-brand dealers have started providing certification on the vehicle because of which the repairs or any manufacturing faults can be handled at the service center free of charge due to which the consumer is all the more motivated to buy a certified/ approved used vehicles nowadays. The registration certification, hypothecation, and other documentation is generally taken care of by the organized players. The above reasons have lured more and more customers to buy used cars and will continue to do the same in the future. Government Regulations: The Philippines government’s goal is to attain a 70:30 CKD to CBU market split by 2022, achieving a 150% increase in nationwide capacity, and full utilization by that date. As of 2014, the ratio of CKD to CBU vehicles stood at 32:68 in the country. The current administration also implemented a landmark tax reform law in late 2017, called the Tax Reform for Acceleration and Inclusion, or TRAIN law, which imposed additional excise taxes on a number of goods, including automobiles, beginning in 2018. Prior rates of 2% to 60% have changed to between 4% and 50%, which severely affected the pricing on the most affordable and most bought models, which might have acted as a favorable factor for the used car market in the country. Key Segments Covered:- Philippines Used Car Market Overview and Size By Type of Market Structure Organised Market Unorganized Market By Type of Sales Origin (Organised Market) Direct Dealership Sales Agent Repossessed Units Sold By Banks Multi Brand Dealers By Type of Sales Channel (Organised Market) Online Platforms Dealership Walk-ins By Average Ticket Size of Used Vehicle By Average Vehicle Replacement Period By Type of Vehicle Manufacturer/Brand Japanese Brands German Brands American Brands Korean Brands Other European Brands British Brands Others Key Target Audience:- Potential Direct Dealership Sales Agents Existing Multi Brand Dealerships Banks & Subsidiaries Captive Finance Companies Non-Banking Financial Institutions Cab Aggregators and Car Rental Companies Government Organizations Online Auto Portals Classified Pages Investors and VC Firms Industry Associations Time Period Captured in the Report:- Financial Year 2014-2018: Historical Period Financial Year 2019-2023: Future Forecast Companies Cited in the Report:- Brand Toyota Nissan Hyundai Honda Mitsubishi Ford DDSA Toyota Certified Honda Philippines Nissan Intelligent Choice Hyundai Philippines Mitsubishi Certified Banks BDO PS Bank BPI East West Bank China Bank RCBC May Bank Sterling Bank Security Bank Classified Pages/ Online Auto Portal Phil Kotse.com OLX Auto Deal.com CarMudi Philippines Key Topics Covered in the Report:- Philippines Online Used Car Financing Market Philippines Used Car Market Philippines Used Cars Market Future Outlook Philippines Car Market Philippines Automotive Aftermarket Industry Philippines Car Dealer Market Used Car Sales Market Philippines Philippines Repossessed Units Sold By Banks 2nd hand Cars for Sale Philippines Demand for Old Cars in Philippines Car Auction Market Philippines Used Car Listing in Philippines Online Marketplace Used Cars Philippines Online Used Cars Market Philippines For More Information On The Research Report, Refer To Below Link:- Philippines Used Car Industry Related Reports by Ken Research:- Indonesia Used Car Market Outlook to 2023 – Rising Popularity of Online Platforms and Reduction in Average Ownership Period to Drive Used Car Sales UAE Used Car and Auto Classified Market Outlook to 2022 – By Revenue Streams (Commission, Paid Listings, Banner Advertisement), By Export and Domestic Sales Russia Used Car Market Outlook to 2022 – by Type of Car (Sedans, Crossovers and SUVs, Hatchbacks and Others include Micro Vans and MPVs) by Car Age, by Distribution Channels (Dealers and Online) Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Tags: 2nd hand Cars for Sale Philippines, Average Price Used Car Market Philippines, Best Selling Used Cars in Philippines, British Used Car Market in Philippines, Car Auction Market Philippines, Cheap Cars for Sale Philippines, Demand for Old Cars in Philippines, Foreign used cars Industry Philippines, Hatchback used cars Philippines, Hyundai Used car demand Philippines, Imported used cars Market Philippines, Japanese Used Car Market in Philippines, Korean Used Car Market in Philippines, Market of Used Vehicle Philippines, New and Used Vehicle Units in PHP Million, Number of Second hand car sales Philippines, Online Marketplace Used Cars Philippines, Online Used Car Major Companies Philippines, Online Used Cars Market Philippines, Philippines Automotive Aftermarket Industry, Philippines Automotive Finance Industry, Philippines Car Dealer Market, Philippines Car Dealership Market, Philippines Car Market, Philippines Ford Second hand Car Market Growth, Philippines Honda Pre-Owned Car Sell in 2018, Philippines Motor Vehicle Loan Market, Philippines Online Second Hand Car Sales, Philippines Online Used Car Financing Market, Philippines Repossessed Units Sold By Banks, Philippines Second Hand Car Sales Market, Philippines Used Car Industry, Philippines Used Car Market, Philippines Used Cars Direct Dealership Sales Agent, Philippines Used Cars Market Future Outlook, Potential Philippines Used Car Market, Pre-owned Car Industry Philippines, Pre-owned Car Market Philippines, Pre-owned car sales Philippines, Repossessed Car for Sale Philippines, Sales Volume Second Hand Vehicles Philippines, Second Hand Vehicle Sales Philippines, Sedan used car Market Philippines, Toyota Used car demand Philippines, Used Car Businesses in Philippines, Used Car Listing in Philippines, Used Car Mudi Philippines Revenue in 2018, Used Car Sales Market Philippines, Used Car Sales Volume Philippines, Used Cars Market in Philippines, Used cars Sales Market Philippines, Used Vehicle Finance Philippines, Used Vehicle Sales in Units Philippines