Philippines Used Car Market Outlook To 2025: 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 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 the 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 of the 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 the future of the industry market size, market segmentation, 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 car’s 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’s 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 Philippine’s 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 car’s 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 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 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