How Is The Philippines Used Car Market Positioned: 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 Overview: The Used car market in Philippines is quite fragmented amongst the unorganized players in the industry. There has been a surge in the demand for private vehicles given the social distancing protocols being imposed in the Philippines making it quite risky to use public transport. Factors such as increasing purchasing power, easy availability of finance, and increased prices of new cars due to Government imposed higher taxes have positively contributed to the growth in the used car market revenue. Increased digitalization and internet penetration and the emergence of online players are critical factors in boosting used cars sales as they have made the overall process of selling and buying used cars quite convenient and prompt. The buying decision of the customers is dependent on key parameters such as the price, model, brand value, age, mileage, and so on. The Philippines automotive market is primarily driven by foreign brands. Market: Market for used car in Philippines has increased at a CAGR of ~% over the period 2015-2020 on the basis of revenue. Sales for used cars were recorded at ~units in Philippines during 2020. There has been a surge in the demand for quality cars, warranty packages, after-sale services, and other value-added services, as several new car potential buyers are gradually moving towards the segment of the used car. Yet, the freelancers and the independent sellers (Customer to Customer) transactions still constitute a lion’s share in the market due to their lower prices. The used cars market showed resilience during the economic crisis brought down on the country by the pandemic in the year 2020. While the new cars market witnessed a tremendous decline, the used cars market experienced a very slight decline from the previous year in terms of sales. Most of the used car market losses were compensated for once the Enhanced Community Quarantine (ECQ) measures were eased and people were required to travel from one place to another while maintaining social distance. Since travelling public transport implied violation of these protocols and risk to health, a lot of people started buying used cars. Philippines Used Car Market Segmentation By Sales channel: Most of the market is dominated by the multi-brand dealerships in the organized B2C segment. OEMs (DDSs) and banks constitute a very small share of the organized used car market in Philippines. By Source of lead generation: In Philippines, online platform is the most preferred method for lead generation for organized players. It also offers a display of large variety of used vehicles on a single click and allows person to compare different vehicles at the same time. By Price: The price range of PHP 300k-500k accounted for highest percentage share of used cars in Philippines in 2020. Sedans are the most popular car models preferred in Philippines, and a vast majority of them lie in this price range. By Brand: Toyota has the highest share in the used cars market. Other Japanese brands such as Mitsubishi, Hyundai, Nissan, etc., have captured a very high proportion of the total market. 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 Region: Metro Manila holds the highest market share for used cars. The NCR region has cities such as the Quezon City, Manila, Paranaque, and so on which are highly developed and crowded as compared to the rest of the cities in Philippines. The deteriorating public transport in these major cities was one of the factors contributing to increased sales of used cars in the Philippines. With the onset of the pandemic, the need for personal cars increased manifold. 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. Competition Scenario In Philippines Used Car Market The competition scenario in Philippines is quite intense as there is no big player in the market holding a significant share. The OEMs capture a very small market share in the organized market segment. The largest share of the market is held by the multi-brand dealers selling. The organized multi-brand dealerships segment is also quite fragmented as there is no established multi-brand dealer capturing a significant proportion of the share. The multi-brand dealers do not consider the OEMs (DDSAs) as a threat given their extremely small market share owing to high prices, and less supply (as most of the OEM’s procure their inventory from trade-ins). However, Toyota Certified has already started carving a niche in the used cars segment and instigated most multi-brand dealers to start providing value added services. 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 Market Future Outlook And 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 ~% from 2020 to 2025E in terms of value (in PHP Billion). 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. The onset of the pandemic has found a new demographic target for the used cars segment, that is, the people who travel via public transport. It is expected that the demand for used cars will increase over time as still this particular target segment’s demands are not saturated. 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 For More Information on the research report, refer to below link: – Philippines Used Car Market Future Growth Related Reports by Ken Research: – Indonesia Used Car Market Outlook To 2025 – By Market Structure (Organized & Unorganized), By Type Of Car (MPVs, Hatchbacks, SUVs & Others), By Brand (Toyota, Honda, Daihatsu, Suzuki & Others), By Vehicle Age, By Mileage, By Customer Age And By Region (DKI Jakarta, East Java, West & Central Java, North Sumatera & Others)” Saudi Arabia Used Car Market Outlook To 2025- By Market Structure (Organized & Unorganized), By Type Of Car (Sedans & Hatchbacks, SUVs & Crossovers, Pick-Ups And Luxury), By Brand (Toyota, Hyundai, GMC & Chevrolet, Ford And Others), By Type Of Sourcing, By Age Of Vehicle (Less Than 1 Year, 1-3 Years, 3-5 Years & More Than 5 Years), By Kilometers Driven (Less Than 50,000 Km, 50,000-80,000 Km, 80,000-120,000 Km & More Than 120,000 Km) And By Region (Northern, Southern, Central, Eastern And Western)” Philippines Auto Finance Market Outlook To 2024- Growing Prominence Of Captive Finance And Surge In Used Car Sales Supporting Disbursement For Auto Loans” Contact Us: – Ken Research Ankur Gupta, Head Marketing & Communications Support@kenresearch.com +91-9015378249 Tags: 2nd hand Cars for Sale Philippines, AutoDeal Philippines Number of Listings, AutoDeal Philippines Users, Automart Philippines Number of Listings, Average Price Used Car Market Philippines, Bank Repossessed Cars in Philippines, Best Selling Used Cars in Philippines, BMW Philippines used car Premium Selection Market, Car Auction Market in Philippines, Carmudi Philippines Number of Listings, Carousell Philippines Number of Listings, Cheap Cars for Sale in Philippines, Covid-19 Impact on Philippines Used Car Industry, Demand for Old Cars in Philippines, Foreign used cars Industry Philippines, Future Of Online used car market Philippines, Future plan of Used Cars in Philippines, Hatchback used cars Market Philippines, Hyundai Used car demand in Philippines, Imported used cars Market Philippines, Japanese Used Car Market in Philippines, Korean Used Car Market in Philippines, market of used car in Philippines, Market of Used Vehicle Philippines, Mercedes Benz Philippines Certified Pre-owned Car Market Size, Mitsubishi Certified used car Market Philippines, Multi-Brand used car Dealers in Philippines, New and Used Vehicle Units in PHP Million, Nissan Philippines Intelligent Choice Used Car Market, Number of Online Used Car Companies Philippines, Number of Second hand car sales Philippines, Number of Used Car Dealers Philippines, Number of Used Hatchbacks sold Philippines, Number of Used MPVs sold Philippines, Number of Used Pick-up Vans sold Philippines, Number of Used Sedans sold Philippines, Offline Used Cars Market Philippines, Online classified players used car space Philippines, Online Marketplace Used Car Philippines, Online portals for Used Car Philippines, Online Used Car Major Companies Philippines, Online Used Car Market Philippines, Philippines Auto Deal Company Used Car Market Share, Philippines Automotive Aftermarket Industry, Philippines Automotive Finance Industry, Philippines Automotive Industry, Philippines Automotive Market, Philippines Car Dealer Market, Philippines Car Dealership Market, Philippines Direct Dealership Sales Agent, Philippines Ford Second hand Car Market Growth, Philippines Motor Vehicle Loan Market, Philippines Nissan Used Car Market Revenue, Philippines Online Second Hand Car Sales, Philippines Online Used Car Financing Market, Philippines Online Used Vehicle Market, Philippines Organized Used Cars Market, Philippines Repossessed Units Sold By Banks, Philippines Second Hand Car Sales Market, Philippines Unorganized Used Car Industry, Philippines Used Car Financing Market, Philippines Used Car Industry, Philippines Used Car Industry Research Report, Philippines Used Car Major Dealers, Philippines Used Car Market, Philippines Used Car Market Analysis, Philippines Used Car Market Competition, Philippines Used Car Market Growth Forecast, Philippines Used Car Market Major Players, Philippines Used Car Market Research Report, Philippines Used Car Market Segmentation, Philippines Used Car Market Size, Philippines Used Cars Direct Dealership Sales Agent, Philippines Used Cars Distribution Channel, Philippines Used Cars Market Future Outlook, Philippines Used Cars Market Sales Volume, Philippines Used Cars Market Share, PhilippinesUsed Vehicle Finance Market Growth, Philkotse Philippines Number of Listings, Potential Philippines Used Car Market, Pre-owned Car Market in Philippines, Pre-owned car sales Philippines, pre-owned vehicle buyers in Philippines, Pricing Analysis Philippines Used Cars Market, Region Wise Used Cars Sales Philippines, Repossessed Cars for Sale Philippines, Sales Volume Second Hand Vehicles Philippines, second hand cars sale in philippines, Second Hand Vehicle Sales Philippines, Sedan used car Market Philippines, slightly used cars in philippines, Toyota Used car demand Philippines, Used Car Business in Philippines, Used Car Industry in Philippines, Used car Industry Revenue Philippines, Used Car Listing in Philippines, Used Car Loan Market Philippines, Used Car Market in Philippines, used car market of the Philippines, Used Car Sales Market Philippines, Used Car Sales Volume Philippines, Used Car Services Market in Philippines, Used Car to New Car Ratio Philippines, Used Vehicle Sales in Units Philippines