Philippines Used Car Market Outlook to 2026: Trade-In Concept Adopted By Dealerships Acting as an Enabler to Used Car Market - ResearchAndMarkets.com

DUBLIN--()--The "Philippines Used Car Market Outlook to 2026 (Third Edition)" report has been added to ResearchAndMarkets.com's offering.

There are a number of growth drivers which has resulted in expansion of the market; these include a surge in the demand of private cars, increasing per capita income, convenient financing facilities, increased internet penetration and enhanced digitalization of the used cars space. Customers of the used cars can be divided according to their needs generally belonging to the working age group.

Philippines Used Car Future Outlook & 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 CoveredOEM 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

Key Topics Covered:

1. Executive Summary

2. Research Methodology

3. Philippines Used Car Market Value Chain Analysis (Inter-Entity Relationship and Margin Analysis)

4. Business Models (Offline and Online) of Philippines Used Car Market

5. Customer Profile of Philippines Used Car Market

7. Philippines Used Car Market Segmentation, 2021P

8. Impact of Covid-19 on Philippines' Used Car Market

9. Trends and Development in Philippines Used Car Market

10. Challenges and Restraints in the Philippines Used Car Market

  • Subjective Pricing
  • Lack of Geographical Area in Philippines
  • Discrepancy in Value of Transaction between Certified/Repossessed Car Sellers and Multi-Brand Used Car Dealer
  • High cost of Finance on Pre-Owned Cars
  • Emergence of Electric Vehicle
  • Registration and Renewal Process
  • Presence of Substitutes
  • Number Coding Suspended

11. Growth Drivers of Philippines Used Car Market

  • Financing Facilities
  • Improved Infrastructure
  • Organized Segment to expand
  • Train Tax
  • Resale Value Comparison Between New and Pre-Owned Cars
  • Trade-In Concept Adopted By Dealerships Acting as an Enabler to Used car Market
  • Young Population
  • Social Media spurring Demand for Pre-owned CARS in Unorganized Market

12. Sales Channels Used in Philippines Used Car Market

13. Government Regulations in the Philippines Used Car Market

14. Competitive Landscape in Philippines Used Car Market, 2021P

15. Philippines Used Car Market Future Outlook and Projections, 2021P-2026F

16. Buying Decision Parameters for Used Car In Philippines

17. Snapshot on Philippines Online B2C & C2B Used Car Market

18. Philippines Ancillary Services, 2016-2026F

19. Analyst Recommendations

Companies Mentioned

  • Toyota Certified
  • Nissan Intelligent Choice
  • BMW Premium Selection
  • Mercedes Benz Certified Pre-owned
  • EastWest Bank
  • Security Bank
  • BDO Unibank
  • Carmudi
  • Carousell
  • AutoDeal
  • Automart
  • Zigwheels
  • Philkotse
  • Carmax
  • Carmix (by Lausgroup)
  • Automobilico
  • All Cars
  • Five Aces
  • Berylle Car Sales

For more information about this report visit https://www.researchandmarkets.com/r/onqixc

Contacts

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press@researchandmarkets.com
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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900