Philippines Used Car Market- Sales, Industry Outlook, Share, Size and Growth Rate, Forecast to 2026: Ken Research REQUEST FOR SAMPLE REPORT 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 Buy Now How is the Philippines Used Car Market Positioned? 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 the 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 emergence of online players are critical factors in boosting the 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. Philippines’ automotive market is primarily driven by foreign brands. Market: ‘Market for used car in Philippines’ has expanded by a CAGR of ~% over the period 2016-2021P on the basis of revenue. Sales for used cars were recorded at ~units in Philippines during 2021P. There has been a surge in the demand for quality cars, warranty packages, after-sale services, and other value added services, as several the new car potential buyers are gradually moving towards the used cars segment. 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 2021P. 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 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 Most Filipinos prefer buying the used car from a dealer. However, with increasing internet penetration, the online sale for used car has been gaining traction in the last few years. 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 facilitated the sale of used cars. However, there is no organized platform for direct B2C & C2C online offering for used car sales currently. Prominent C2B car players such as Carsome are planning to enter the Philippines in the near future. Request for Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTI0MDM4 Competitive Landscape of Philippines Used Car Market Used Car Market in Philippines is highly fragmented as majority of the market is unorganized. 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. The repossessed car market in Philippines is fairly concentrated, as major banks involved in auctions are only 8-10. Used car dealers in Philippines compete on the basis of number of dealership outlets; value added services, quality checks performed, insurance and finances and portfolio of used cars at their dealership store. Philippines Used Car Market Future Outlook and Projections The used car industry in Philippines is expected to grow in the future at a single digit CAGR over the forecast period (2021P to 2026F). The market structure is expected to be consolidated in the future as the market share of players selling vehicles via organized channel is expected to surge. The average ticket size of a used vehicle is expected to increase as the average replacement period is reducing over time. The customers will tend to switch to used cars and new cars at a rate faster than before, depicting rapid change in consumer preferences. The multi-brand dealers and banks are strategically partnering with online classified pages and online auto portals to make the process accessible and transparent for the buyers. . The customers in the future will make well informed decision as lot of information will made available regarding car pricing at their disposal in the future across various platforms. Certain foreign established C2B players are too considering Philippines Used Car market a growing and profitable venture. Key Segments Covered By Market Structure Organized Unorganized By Sales Channel (Organized Segment) Multi-brand Dealers Direct Dealership Sales Agents Bank Repossessed Cars By Source of Lead generation (Organized Segment) Online Dealership walk-ins By Average Ticket Size 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 Region Metro Manila Northern Luzon Southern Luzon (except Metro Manila) Visayas Mindanao By Type of Vehicle Sedan SUV Hatchback Pickup Vans MPV Others (convertibles, coupe, crossover, sports vehicles, etc.) By Fuel Gasoline Diesel Others (Hybrid and Electric) By Type of Vehicle Manufacturer Japanese Korean American Chinese German British Others By Brand Toyota Mitsubishi Hyundai Ford Nissan Honda Isuzu Suzuki Others (Kia, Mazda, Mercedes, Audi, etc.) By Average Replacement 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 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 – 2016-2021P Forecast Period – 2021P-2026F Key Topics Covered in the Report Executive Summary Research Methodology Philippines Used Car Market Overview Philippines Used Car Market Size, 2016-2021P Philippines Used Car Market Segmentation, 2021P 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 Philippines Ancillary Services Market Future Market Size and Segmentations, 2021P-2026F Covid-19 Impact on the Industry & the way forward Analysts’ Recommendations For more information on the research report, refer to below link: Philippines Used Car Market Outlook to 2026 (Third Edition) Related Reports Singapore Used Car Market Outlook to 2025: Increasing Used Cars Demand Due to the Pandemic Contributes to Increase in Used Cars Sales during the Economic Crisis South Korea Used Car Market Outlook to 2026: Relaxed Government Regulations on Big Companies Entering Used Car Market to Facilitate Increase in the Used Cars Sales and Improve the Organized Market Share Malaysia Used Car Market Outlook To 2025 (Second edition) – Growth of Online Used Car Platforms and increased shift from using public transport to personal cars, fueled by Covid-19 to accelerate Industry’s Growth Follow Us LinkedIn | Facebook | Twitter | YouTube Contact Us:Ken ResearchAnkur Gupta, Head Marketing & CommunicationsSupport@kenresearch.com+91-9015378249 Tags: AutoDeal Philippines Number of Listings, AutoDeal Philippines Users, Automart Philippines Number of Listings, Bank Repossessed Cars in Philippines, BMW Premium Selection Philippines Used Car Market, Buy Now Pay Later in India Research Report, Carmudi Philippines Number of Listings, Carmudi Philippines Users, Carousell Philippines Number of Listings, Carsome Philippines, Covid-19 Impact Philippines Used Car Market, Future plan of Used Cars in Philippines, Honda Market Share, Industry Research Report Of Philippines Used Card, Market Research Report Of Philippines Used Car, Mercedes Benz Certified Pre-owned Philippines Used Car Market, Mitsubishi Market Share, Nissan Intelligent Choice Philippines Used Car Market, Number of Online Used Car Companies in Philippines, Number of Used Car Companies in Philippines, Number of Used Car Dealers in Philippines, Number of Used Hatchbacks sold in Philippines, Number of Used MPVs sold in Philippines, Number of Used Pick-up Vans sold in Philippines, Number of Used Sedans sold in Philippines, Number of Used SUVs sold in Philippines, Online classified players in used car space Philippines, Online portals for Used Car Philippines, Partnerships Used Car Philippines, Philippines Used Car Competition, Philippines Used Car Industry, Philippines Used Car Industry Research Report, Philippines Used Car Market, Philippines Used Car Market Analysis, Philippines Used Car Market Competition, Philippines Used Car Market Demand, Philippines Used Car Market Future Outlook, Philippines Used Car Market Growth, Philippines Used Car Market Industry, Philippines Used Car Market Major Players, Philippines Used Car Market Research Report, Philippines Used Car Market Revenue, Philippines Used Car Market Sales, Philippines Used Car Market Share, Philippines Used Car Market Size, Philippines Used Car Market Trends, Philippines Used Car Research Report, Philkotse Philippines Number of Listings, Region Wise Used Cars Sales Philippines, Snapshot Philippines Used Car, Toyota Certified Philippines Used Car Market, Toyota Philippines Used Car Market share, Used Car Current Status Philippines, Used Car Domestic Players Philippines, Used Car Foreign Players Philippines, Used Car Industry in Philippines, Used Car Market, Used Car Market in Philippines, Used Car Market Philippines, Used Car Present Status Philippines, Used Car Sales Philippines, Used Car to New Car Ratio Philippines, Used Car Value Chain