Philippines Used Car Market is Expected to Reach Over 1.9 Million in terms of Sales Volume in Units by the End of 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 The increasing prominence of online classified and auto portals in the Philippines has started impacting the buying behavior of customers in the used car market. The advent of digital technology has given varied domains to the customers, which they can explore to find the most suitable car for themselves. The multi-brand dealers and banks are strategically partnering with online classifieds and online auto portals to make the car buying process more accessible and transparent for the buyers. Also, the banks have started collaborating with websites such as Auto Deal for pre-owned and new vehicle financing. Growth Enablers: Growth in the Philippines used car market in future will be facilitated by simplified documentation & licensing processes, penetration of online sales channel, pivot towards certified cars due to change in the customer purchase funnel, more volumes of repossessed car auction, robust after-sale services, entry of new players, expanding geographical presence of major players, improvements in technology and new marketing strategies and product stream diversification. These improvements should expand the number of pre-owned personal and commercial vehicles purchased, thereby growing the market. Government Push: The Tax Reform for Acceleration and Inclusion (TRAIN) Act in the Philippines has made new vehicles more expensive because of which individuals have resorted to certified and non-certified pre-owned vehicles. The planned highways and road improvements by the government are estimated to ease the congestion in the country and provide better and wider roads. The focus on public transport and ride-sharing services to combat the traffic will also expand the used car sales in the Philippines. Increasing Prominence of Online Sales Channel: The online space is expected to increase the volume of used cars traded. Social media websites such as Facebook and Instagram have played important roles for individuals, multi-brand dealers and the DDSA’s to list the fleet of a vehicle in stock for free or negligible cost. The promotion fees/ fees to boost the target audience on social media are way lower than the listing fees charged by the online auto portals or classified pages in the Philippines. Ken Research in its latest study “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” suggests a five-year CAGR of around 5.7% on the basis of the volume of used car sales for the time period 2019-2023 due to introduction of TRAIN tax on new vehicles and rising inflation in the country. For More Information on the market research report, please refer to the link below:- https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/philippines-used-car-market-outlook/268335-100.html Key Segments Covered:- Philippines Used Car Market Overview and Size By Type of Market Structure Organized Market Unorganized Market By Type of Sales Origin (Organized Market) Direct Dealership Sales Agent Repossessed Units Sold By Banks Multi Brand Dealers By Type of Sales Channel (Organized 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 the Philippines Used Car Market Company Profile of Major Players in the Philippines Used Car Market Future Outlook and Projections in Philippines Used Car Market (2019-2023) Analyst Recommendations Related Reports by Ken Research https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/indonesia-used-car-market-research-report/212624-100.html https://www.kenresearch.ae/technology-and-telecom/it-and-ites/uae-used-car-auto-classified-market/170500-105.html https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/russia-used-car-market/146656-100.html Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications support@kenresearch.com +91-9015378249 Tags: 2nd 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