Philippines Used Car Market Outlook to 2023: 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 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” provides a comprehensive analysis of the Used Vehicle market in the Philippines. The report also covers the overview and genesis of the industry, market size in terms of gross transaction value, and in terms of sales volume, trends and developments, issues and challenges, regulations in the Philippines, snapshot on Philippines online classified market, business models, value chain analysis, SWOT analysis, buying decision parameters, competitive scenario, and company profiles. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions. To learn more about this report Download a Free Sample Report Philippines Used Car Market Overview and Size Market Overview: the Philippines the used car market is one of the most promising markets within Southeast Asia owing to the huge volume being traded each year, There have been a number of regulatory changes that have impacted the market such as the recent amendment on the higher tax rate for vehicles in different price brackets. There are also a number of other challenges that exist for the market such as price discrepancies, lack of standardization and others. However, the market has a lot of potentials to grow and is currently witnessed to be in its growth stage. However, there are a number of growth drivers which has resulted in the expansion of the market since 2014, a listing of vehicles on online auto portals or social media pages such as Facebook, an increase in bank repossessed car market penetration and the concept of trade-ins. Philippines Used Car Market Segmentations By Type of Market: The organized market of The Philippines used car market is small in comparison to the unorganized market in terms of revenue in 2018. The organized market consists of DDSA (Direct Dealership Sales Agent); banks repossessed cars and multi-brand dealers. The unorganized market comprises of freelancers and individual consumers selling a very low volume of vehicles in the economy. The C2C/unorganized market of The Philippines is decreasing year on year because of rising awareness on the perks of buying a car from the organized sector. The cars with accident history are very difficult to track in the unorganized market; hence the consumer has started to switch their pre-owned car purchases to organized market. By Type of Sales Channel: Within the organized market, the sales channel can either be a direct dealership walk-in or a lead generated by the online portals for the organized players to increase their sale probability. In the case of an online channel, the eventual sale of the unit takes place from a physical location only. The unorganized market players also take advantage of listing their fleet on classified portals and social media platforms to increase their outreach. The other channel is, direct dealer sellout, wherein the individual seller disposes of the used car for a fair market price to either the multi-brand dealer or DDSA. Unorganized players also depend on word of mouth as a sales channel, wherein the individual sellers sell the vehicle to a known individual within friends or family. By Average Replacement Period: The average replacement period segmentation deciphers the average time the vehicle owner uses its asset and then sells it in the open market. It has been observed that on an average, the vehicle owner retains the fleet for at least 3-5 years in Philippines car market and therefore in terms of sales volume, the majority of the used cars sold in the market are in this age bracket. By Major Car Manufacturer (Brands): The Japanese manufactured used car brands were the most commonly sold used cars in the Philippines market. This is because most of the Japanese cars brands are durable because of quality manufacturing and are available at an affordable price. The technology used in Japanese cars is perceived to be better than the rest of the manufacturers. German cars are also very popular among the customers in the Philippines; however, they are relatively higher priced. Toyota Certified is the biggest Direct Dealership Sales Agents (DDSA), involved in selling the highest volume of certified used car. This is followed by Nissan Philippines and Honda Philippines. Philippines Used Car Market Competitive Overview The overall market is highly fragmented in nature as most of the used car sellers in the Philippines belong to the unorganized market constituting of free-lancers and individual sellers. However, in the organized market segment, multiband dealers have majority share and are highly competitive in nature when it comes to pricing. The share of Direct Dealership Sales Agents (DDSA) and repossessed cars auctioned by banks is quite less compared to multi-brand dealers in the organized market. The reason for their lower market share in volume sales is because multi-brand dealers offer competitive pricing, better-refurbished units, varied financing options, and other value-added services to attract customers. The most popular car brands opted in the Philippines used car market are Toyota, Honda, Nissan, Hyundai, and Mitsubishi. In the Philippines, the auto loan default rate is on surge which has resulted in auctioning of a high number of forfeited units by banks to multi-brand dealers and other small dealers in the market. Major Banks that auctioned the highest volume of the repossessed car in the Philippines are East West Bank, May Bank, PS Bank, BPI, RCBC, and Sterling Bank of Asia, Security Bank, BDO, China Bank. Major DDSA’s in the Philippines used car market are Toyota Certified, Honda Philippines, Nissan Intelligent Choice, Hyundai Philippines, and Mitsubishi Certified. Philippines Used Car Market Future Outlook and Projections The market size by value of transactions is expected to increase at a 5-year CAGR of 9.9% by value during the time period 2018-2023E. An increase in the average ticket size of a used car, an increase in demand for used cars, a surge in the online listing of used vehicles are some of the reasons to spur the growth in the used car market of the Philippines. The average ticket size is forecasted to increase due to an increase in certified used car supply and decreasing average replacement period of new cars. It is also expected that within the organized market, DDSA’s market share would increase at the highest pace. This is because customers would prefer to buy certified used cars which guarantee after-sales service and proper refurbishment of the vehicle. The sales volumes of used cars are expected to increase within the organized market because it has been witnessed that individual sellers find it easier to sell the unit to multi-brand dealers at a fair market price than through word of mouth channels. 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 Used Car Market Overview Philippines Used Car Market Size on the Basis of Value, 2014–2018 Philippines Used Car Market Size on the Basis of Volume of Used Cars Sold, 2014–2018 Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized) Philippines Used Car Market Segmentation by Sales Channel (Online Vs Offline) Philippines Used Car Market by Origin of Sale (DDSA, Banks Repossessed Car Auctions and Multi-Brand Dealers) Revenue Model of Key Classified Pages and Online Auto Portals Strengths and Weaknesses of Major Players in Philippines Used Car Market Company Profile of Major Players in Philippines Used Car Market Future Outlook and Projections in Philippines Used Car Market (2019-2023) Analyst Recommendations For More Information On The Research Report, Refer To Below Link:- Philippines Used Car Market 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, Best Selling Used Cars in Philippines, British 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