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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

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The report titled "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" provides a comprehensive analysis of the Used Vehicle market in Philippines. The report also covers the overview and genesis of the industry, market size in terms of gross transaction value, and in terms of sales volume, trends and developments, issues and challenges, regulations in Philippines, snapshot on Philippines online classified market, business models, value chain analysis, SWOT analysis, buying decision parameters, competitive scenario and company profiles. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions.

Philippines Used Car Market Overview and Size
Market Overview: the Philippines used the car market is one of the most promising markets within Southeast Asia owing to the huge volume being traded each year. There have been a number of regulatory changes that have impacted the market such as the recent amendment on higher tax rates for vehicles in different price brackets. There is also a number of other challenges that exist for the market such as price discrepancies, lack of standardization and others. However, the market has a lot of potentials to grow and is currently witnessed to be in its growth stage. However, there are a number of growth drivers which has resulted in an expansion of the market since 2014, a listing of vehicles on online auto portals or social media pages such as Facebook, an increase in bank repossessed car market penetration and the concept of trade-ins.

Philippines Used Car Market Segmentations
By Type of Market: The organized market of the Philippines used car market is small in comparison to the unorganized market in terms of revenue in 2018. The organized market consists of DDSA (Direct Dealership Sales Agent); banks repossessed cars and multi-brand dealers. Unorganized market comprises of freelancers and individual consumers selling a very low volume of vehicles in the economy. The C2C/unorganized market of the Philippines is decreasing year on year because of rising awareness on the perks of buying a car from the organized sector. The cars with accident history are very difficult to track in the unorganized market; hence the consumer has started to switch their pre-owned car purchases to organized market.
By Type of Sales Channel: Within the organized market, the sales channel can either be a direct dealership walk-in or a lead generated by the online portals for the organized players to increase their sale probability. In the case of an online channel, the eventual sale of the unit takes place from a physical location only. The unorganized market players also take advantage of listing their fleet on classified portals and social media platforms to increase their outreach. The other channel is, direct dealer sellout, wherein the individual seller disposes of the used car for a fair market price to either the multi-brand dealer or DDSA. Unorganized players also depend on word of mouth as a sales channel, wherein the individual sellers sell the vehicle to a known individual within friends or family. 
By Average Vehicle Replacement Period: The average replacement period segmentation deciphers the average time the vehicle owner uses its asset and then sells it in the open market. It has been observed that on average, the vehicle owner retains the fleet for at least 3-5 years in the Philippines car market and therefore in terms of sales volume, the majority of the used cars sold in the market are in this age bracket.
By Major Car Manufacturer (Brands): The Japanese manufactured used car brands were the most commonly sold used cars in the Philippines market. This is because most of the Japanese cars brands are durable because of quality manufacturing and are available at an affordable price. The technology used in Japanese cars is perceived to be better than the rest of the manufacturers. German cars are also very popular among the customers in the Philippines; however, they are relatively higher priced. Toyota Certified is the biggest Direct Dealership Sales Agents (DDSA), involved in selling the highest volume of certified used car. This is followed by Nissan Philippines and Honda Philippines.
Philippines Used Car Market Competitive Overview
The overall market is highly fragmented in nature as most of the used car sellers in the Philippines belong to the unorganized market constituting of free-lancers and individual sellers. However, in the organized market segment, multiband dealers have majority share and are highly competitive in nature when it comes to pricing. The share of Direct Dealership Sales Agents (DDSA) and repossessed cars auctioned by banks is quite less compared to multi-brand dealers in the organized market. The reason for their lower market share in volume sales is because multi-brand dealers offer competitive pricing, better-refurbished units, varied financing options and other value-added services to attract customers. The most popular car brands opted in the Philippines used car market are Toyota, Honda, Nissan, Hyundai, and Mitsubishi. In the Philippines, the auto loan default rate is on surge which has resulted in auctioning of a high number of forfeited units by banks to multi-brand dealers and other small dealers in the market. Major Banks that auctioned the highest volume of a repossessed car in the Philippines are East West Bank, May Bank, PS Bank, BPI, RCBC, Sterling Bank of Asia, Security Bank, BDO, China Bank. Major DDSA’s in the Philippines used car market are Toyota Certified, Honda Philippines, Nissan Intelligent Choice, Hyundai Philippines, and Mitsubishi Certified.
Philippines Used Car Market Future Outlook and Projections
The market size by value of transactions is expected to increase at a 5-year CAGR of 9.9% by value during the time period 2018-2023E. Increase in average ticket size of the used car, increase in demand for used cars, a surge in the online listing of used vehicles is some of the reasons to spur the growth in the used car market of the Philippines. The average ticket size is forecasted to increase due to the increase in certified used car supply and decreasing average replacement period of new cars. It is also expected that within the organized market, DDSA’s market share would increase at the highest pace. This is because customers would prefer to buy certified used cars that guarantee after-sales service and proper refurbishment of the vehicle. The sales volumes of used cars are expected to increase within the organized market because it has been witnessed that individual sellers find it easier to sell the unit to a multi-brand dealer at a fair market price than through word of mouth channels.
 
Key Segments Covered
Philippines Used Car Market Overview and Size
By Type of Market Structure
  • Organized Market
  • Unorganized Market
By Type of Sales Origin (Organised Market)
  • Direct Dealership Sales Agent
  • Repossessed Units Sold By Banks
  • Multi Brand Dealers
By Type of Sales Channel (Organised 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
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Table Of Content

Scope

1. Executive Summary

2. Research Methodology

2.1. Market Definitions
2.2. Abbreviations
2.3. Market Sizing and Modeling

3. Philippines Used Car Market Value Chain Analysis
3.1. Philippines Used Car Market Ecosystem
3.2. Working Processes Involved in Philippines Used Car market
3.2.1. Upstream Process
3.2.2. Downstream Process

4. Customer Profile of Philippines Used Car Market

5. Philippines Used Car Market, 2014 – 2018

5.1. Philippines Used Car Market Introduction
5.2. Philippines Used Car Market by Transaction Value and by Sales Volume, 2014-2018

6. Philippines Used Car Market Segmentation, 2018
6.1. By Market Structure (Organised and Unorganized Market)
6.2. Organized Market Segmentation by Sales Channel (Online and Dealership Walk-ins)
6.3. By Average Ticket Size of a Used Car
6.4. By Type of Vehicle Manufacturer (Japanese, German, American, Korean, Other European, British and Other)
6.5. By Average Replacement Period
6.5.1. Ordinal Ranking of Major Auto Portals
6.5.2. Computation of Used Motor Vehicle

7. Competitive landscape in Philippines Used Car Market, 2018
7.1. Competition Parameters
7.2. Competitive Scenario in Philippines Used Car Market
7.3. Company Profiles of Direct Dealership Sales Agent (DDSA) (Including Company Overview, USP, Business Strategies, Strength, Weakness, Business Model, Marketing Strategy, Global Operations, Other Services, Pre-Owned Car Sales by Volume, Recent Development and Value Added Services)
7.3.1. Toyota Certified Philippines
7.3.2. Nissan Intelligent Choice Philippines
7.3.3. Honda Philippines Car Inc.
7.3.4. Hyundai Asia Resource Inc.
7.4. Company Profiles of Major Online Auto Portals/ Classifieds (Including Company Overview, USP, Business Strategies, Strength, Weakness, Business Model, Marketing Strategy, Global Operations, Other Services, Pre-Owned Car Sales by Volume, Recent Development and Value Added Services)
7.4.1. Auto Deal Philippines
7.4.2. Car Mudi Philippines
7.4.3. Philkotse Philippines
7.4.4. Carousell Philippines (Olx Philippines)

8. Trends and Developments in Philippines Used Car Market

9. Growth Drivers of Philippines Used Car Market


10. Challenges and Restraints in Philippines Used Car Market


11. Government Regulations in Philippines Used Car Market


12. Sales Channels Used in Philippines Used Car Market


13. Philippines Used Car Market Future Outlook and Projections, 2019E-2023E

13.1. Future Market Projections, 2019E-2023E
13.2. Philippines Used Car Market Future Segmentation, 2019E-2023E
13.2.1. By Market Structure (Organised and Unorganised), 2019E-2023E
13.2.2. By Origin of Sale (Direct Dealership Sales Agent, Repossessed Units Sold By Banks and Multi Brand Dealers), 2018- 2023E

14. Analyst Recommendation

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List Of Figure

Figure 1-1: Executive Summary of the Philippines Used Car Market, 2018
Figure 3-1: Value Chain of Philippines Used Car Market Including Margins, Source of Procurement and Target Buyers.
Figure 3-2: Value Chain of Philippines Used Car Market in Online Space (Inter-Entity Relationship and Margin Analysis)
Figure 3-4: Upstream Processes in Philippines Used Car Market
Figure 3-5: Downstream Process in Philippines Used Car Market
Figure 4-1: Comparative Analysis of Intent to Upgrade to Different Vehicle (New/Used) on the basis of Financial Stability in Percentage (%)
Figure 5-1: Philippines Used Car Market Size on the basis of Sales Volume in Units and Growth Rate in Percentage (%), 2014-2018
Figure 5-2: Philippines Used Car Market Size on the basis of Transaction Value in PHP Billion and Growth Rate in Percentage (%), 2014-2018
Figure 5-3: Number of Used Car and New Car Sales in Thousands in Philippines, 2014-18
Figure 6-1: Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized Market Structure) on the Basis of Sales Volume in Percentage, 2018
Figure 6-2: Philippines Used Car Organized Market Segmentation by Sales Channel (Offline and Online) on the basis of Sales Volume in Units, 2018
Figure 6-3: Philippines Used Car Market Size by Average Ticket Size of a Vehicle in Pesos and Growth Rate in Percentage (%), 2014–2018
Figure 6-4: Philippines Used Car Market Segmentation by Type of Manufacturer- Origin of Country (Japanese, German, American, Korean, Other European, British, and Other) on the basis of Sales Volume in Percentage, 2018
Figure 6-5: Used Car Sales Volume by Average Replacement Period in Percentage of a Vehicle (First Car Ownership Change) in Philippines, 2018
Figure 6-6: Philippines Used Motor Vehicle (Commercial, Passenger and Motor Cycle) Market Share on the Basis of Volume in Percentage (%), 2018
Figure 7-1: Philippines Organized Used Car Market by Origin of Sale in Percentage (%), 2018
Figure 7-2: Market Share by Type of Car Brand in Philippines Used Car Market on the basis of Sales Volume in Percentage (%), 2018
Figure 7-3: Market Share of Various DDSA’s (Toyota Certified, Honda Philippines, Nissan Intelligent Choice, Hyundai Philippines, Mitsubishi Certified and Others) on the basis of Sales Volume in Percentage (%), 2018
Figure 7-4: Market Share of Major Banks Auctioning Used Cars in Percentage (%), 2018
Figure 7-5: Nissan Claim Process in Case of Accidental Damage to the Vehicle
Figure 7-6: Flow Chart for Revenue Stream for Auto Deal Philippines
Figure 7-7: Revenue Flow Chart of Car Mudi Philippines as of 2018
Figure 7-8: Revenue Flow Chart of Philkotse Philippines as of 2018
Figure 6-9: Types of Packages to List Vehicle on Carousell Philippines (Olx Philippines), 2018
Figure 8-1: Average Price of a Used Car in Philippines, 2014-2018
Figure 8-2: Inflation Trend in Philippines Month on Month in Percentage (%), 2015-2018
Figure 13-1: Philippines Used Car Market Size Future Projections by Transaction Value in PHP Billion and Growth Rate in Percentage (%), 2018-2023E
Figure 13-2: Philippines Used Car Market Size Future Projections on the basis of Sales Volume in Units and Growth Rate in Percentage (%), 2018-2023E
Figure 13-3: Philippines Used Car Market Future Projections for Used Car to New Car Ratio and Growth Rate in Percentage (%), 2018-2023E
Figure 13-4: Philippines Used Market Future Projections by Organized and Unorganized Market by Sales Volume in Percentage (%), 2018-2023E
Figure 13-5: Philippines Used Car Market Segmentation by Type of Channel (Online and Offline Channel) in Organised Market on the basis of Sales Volume in Percentage (%), 2018-2023E
Figure 13-7: Philippines Used Car Market Future Segmentation by Origin of Sale (Direct Dealership Sales Agent, Repossessed Units Sold By Banks and Multi Brand Dealers) on the basis of Sales Volume in Percentage (%), 2018-2023EValue Chain of Philippines Used Car Market in Online Space (Inter-Entity Relationship and Margin Analysis)


List Of Table

Table 2-1: List of Abbreviations
Table 2-2: Correlation Matrix for Philippines Used Car Market
Table 2-3: Regression Coefficients Output for Philippines Used Car Market
Table 3-1: Philippines Used Car Market Ecosystem Consisting of Direct Dealership Sales Agents, Bank Repossessed Cars, Multi Brand Dealers, Individual Sellers and Freelancers, Online Portals and End Users, 2018
Table 3-2: Upstream Process in Philippines Used Car Market
Table 3-3: Downstream Process in Philippines Used Car Market
Table 4-1: Customer Profile of Philippines Used Car Market on the Basis of Demographic Characteristics, Geographical Characteristics and Psychological Characteristics
Table 5-1: Overview of Philippines Used Car Market Including Market Genesis, Supply, Sales Channel, Consumer Demand, Consumer Preference and Major Entities involved in Value Chain
Table 5-2: Rationale and Description for Philippines Used Car Market Size by Sales Volume in Units and by Transaction Value in PHP Billion, 2014 –2018
Table 6-1: Rationale and Description for Philippines Used Car Market by Market Structure (Organized and Unorganized Market) on the Basis of Sales Volume in Units, 2018
Table 6-2: Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized Market) on the Basis of Sales Volume in Units, 2018
Table 6-3: Philippines Used Car Market Segmentation by Sales Channel (Dealership Walk-Ins and Online) on the basis of Sales Volume in Units, 2018
Table 6-4: Used Car Sales Volume by Average Ticket Size in Philippines in PHP, 2018
Table 6-5: Philippines Used Car Market Segmentation by Type of Vehicle Manufacturer- Origin of Country (Japanese, German, American, Korean, Other European, British, and Other) on the basis of Sales Volume in Units, 2018
Table 6-6: Philippines Average Replacement Period Sales Volume on the basis of Vehicle Model/Registration Year
Table 6-7: Number of Used Car Listings on Classified Pages or Online Auto Portals as on November, 2018
Table 7-1: Competition Parameters in Philippines Used Car Market (Including Price, Retail Space, Brand Awareness, Value Added Service, Technical Know-How, Sourcing of Cars and Condition of the Vehicle)
Table 7-2: Total Volume of Used Cars Sold by Organized Players (DDSA, Banks Repossessed Cars and Multi-Brand Dealers) in Philippines in Units, 2018
Table 7-3: Market Share by Type of Car Brand in Philippines Used Car Market on the basis of Sales Volume in Units, 2018
Table 7-4: Market Share of Various DDSA’s (Toyota Certified, Honda Philippines, Nissan Intelligent Choice, Hyundai Philippines, Mitsubishi Certified and Others) on the basis of Sales Volume in Units, 2018
Table 7-5: Total Volume of Repossessed Cars Auctioned By Banks in Philippines in Units, 2018
Table 7-6: Company Profile of Toyota Certified Philippines Including Company Overview, USP, Business Strategies, Strength, Weakness, Business Model, Marketing Strategy, Global Operations, Other Services, Pre-Owned Car Sales by Volume, Recent Development and Value Added Services
Table 7-7: Location of Toyota Certified Showrooms Selling Used Car in Philippines, 2018
Table 7-8: Best Selling Certified Toyota Cars in Philippines as of 2018
Table 7-9: Company Profile of Nissan Intelligent Choice Including Company Overview, Location, USP, Business Strategies, Business Model, Marketing Strategy, Volume of Used Cars, Financing Option and Other Services
Table 7-10: Best Selling Pre-Owned Nissan Cars in Philippines as of 2018
Table 7-11: Company Profile of Honda Philippines Inc including Company Overview, USP, Business Strategies, Business Model, Marketing Strategy and Other Services
Table 7-12: Honda Philippines Preventive Maintenance Cost for 5 Years.
Table 7-13: Best Selling Pre-Owned Honda in Philippines as of 2018
Table 7-14: Company Profile of Hyundai Asia Resource Inc Including Company Overview, USP, Business Strategy, Other Services, No. of Employees and Number of Cars Sold
Table 7-15: Hyundai Asia Resource Inc. Dealership Location in Philippines
Table 7-16: Company Profile of Auto Deal including Company Overview, USP, Business Strategies, No. of Unique Visitors, Listing charge, Number of Dealers Associated, Recent Developments
Table 7-17: Company Profile of Car Mudi Philippines including Company Overview, USP, Business Strategies, Business Model, Marketing Strategy, Average Charge per Dealership, Revenue as of 2018 and Average Fleet of Cars Listed by Dealer at a Point of Time
Table 7-18: Company Profile of Philkotse Philippines Including Company Overview, USP, Business Strategy, Marketing Strategy, Average Number of Dealers listed, New Listings, Average Amount Paid by Dealers to List Vehicles Per Annum and Unique Visitors
Table 7-19: Company Profile of Carousell Philippines Including Company Overview, USP, Business Strategy, Vehicle Listing in 2018, Recent Development, Average Listing Charge
Table 7-20: Ranking of Top 10 Brand and Model by Most Searched Vehicles in Carousell Philippines (Olx Classifieds) in 2018
Table 7-21: Top Five Most Searched Vehicles based on Classification in Carousell Philippines (Olx Classifieds) , 2018
Table 9-1: Philippines Motor Vehicle Loan on the basis of Performing and Non-Performing Loan Portfolio in PHP Billion
Table 9-2: Depreciation Computation on New and Used Vehicle Units in PHP Million
Table 10-1 : Deviation in New and Used Car Cost of Finance in Philippines
Table 11-1: Government Regulation in Philippines Used Car Market
Table 13-1: Rationale and Description for Future Projections to Philippines Used Car Market Size on the basis of Transaction Value in PHP Billion and SalesVolume in Units, 2018-2023
Table 13-2: Rationale and Description for Future Projections to PhilippinesUsed Car Market by Organized and Unorganized Market, 2018 to 2023E
Table 13-3: Philippines Used Car Market Future Projections by Organized and Unorganized Market on the basis of Sales Volume in Units, 2018 to 2023E
Table 13-4: Rationale and Description for Philippines Used Car Market Segmentation by Type of Channel (Online and Offline Channel)in Organised Market on the basis of Sales Volume, 2018-2023E
Table 13-5: Philippines Used Car Market Segmentation by Type of Channel (Online and Offline Channel) in Organised Market on the basis of Sales Volume in Units, 2018-2023E
Table 13-6: Rationale and Description for Philippines Used Car Market Future Segmentation by Origin of Sale (Direct Dealership Sales Agent, Repossessed Units Sold By Banks and Multi Brand Dealers) on the basis of Sales Volume in Units, 2018-2023E
Table 13-7: Philippines Used Car Market Future Segmentation by Origin of Sale (Direct Dealership Sales Agent, Repossessed Units Sold By Banks and Multi Brand Dealers) on the basis of Sales Volume in Units, 2018-2023E
Table 14-1: Analyst Recommendation for Philippines Used Car Market

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Products and Companies

Products

Philippines Used Car Market Overview and Size
By Type of Market Structure
  • Organised Market
  • Unorganized Market
By Type of Sales Origin (Organised Market)
  • Direct Dealership Sales Agent
  • Repossessed Units Sold By Banks
  • Multi Brand Dealers
By Type of Sales Channel (Organised 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


Companies

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

The report titled "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" provides a comprehensive analysis of the Used Vehicle market in Philippines. The report also covers the overview and genesis of the industry, market size in terms of gross transaction value, and in terms of sales volume, trends and developments, issues and challenges, regulations in Philippines, snapshot on Philippines online classified market, business models, value chain analysis, SWOT analysis, buying decision parameters, competitive scenario and company profiles. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions.

Philippines Used Car Market Overview and Size
Market Overview: the Philippines used the car market is one of the most promising markets within Southeast Asia owing to the huge volume being traded each year. There have been a number of regulatory changes that have impacted the market such as the recent amendment on higher tax rates for vehicles in different price brackets. There is also a number of other challenges that exist for the market such as price discrepancies, lack of standardization and others. However, the market has a lot of potentials to grow and is currently witnessed to be in its growth stage. However, there are a number of growth drivers which has resulted in an expansion of the market since 2014, a listing of vehicles on online auto portals or social media pages such as Facebook, an increase in bank repossessed car market penetration and the concept of trade-ins.

Philippines Used Car Market Segmentations
By Type of Market: The organized market of the Philippines used car market is small in comparison to the unorganized market in terms of revenue in 2018. The organized market consists of DDSA (Direct Dealership Sales Agent); banks repossessed cars and multi-brand dealers. Unorganized market comprises of freelancers and individual consumers selling a very low volume of vehicles in the economy. The C2C/unorganized market of the Philippines is decreasing year on year because of rising awareness on the perks of buying a car from the organized sector. The cars with accident history are very difficult to track in the unorganized market; hence the consumer has started to switch their pre-owned car purchases to organized market.
By Type of Sales Channel: Within the organized market, the sales channel can either be a direct dealership walk-in or a lead generated by the online portals for the organized players to increase their sale probability. In the case of an online channel, the eventual sale of the unit takes place from a physical location only. The unorganized market players also take advantage of listing their fleet on classified portals and social media platforms to increase their outreach. The other channel is, direct dealer sellout, wherein the individual seller disposes of the used car for a fair market price to either the multi-brand dealer or DDSA. Unorganized players also depend on word of mouth as a sales channel, wherein the individual sellers sell the vehicle to a known individual within friends or family. 
By Average Vehicle Replacement Period: The average replacement period segmentation deciphers the average time the vehicle owner uses its asset and then sells it in the open market. It has been observed that on average, the vehicle owner retains the fleet for at least 3-5 years in the Philippines car market and therefore in terms of sales volume, the majority of the used cars sold in the market are in this age bracket.
By Major Car Manufacturer (Brands): The Japanese manufactured used car brands were the most commonly sold used cars in the Philippines market. This is because most of the Japanese cars brands are durable because of quality manufacturing and are available at an affordable price. The technology used in Japanese cars is perceived to be better than the rest of the manufacturers. German cars are also very popular among the customers in the Philippines; however, they are relatively higher priced. Toyota Certified is the biggest Direct Dealership Sales Agents (DDSA), involved in selling the highest volume of certified used car. This is followed by Nissan Philippines and Honda Philippines.
Philippines Used Car Market Competitive Overview
The overall market is highly fragmented in nature as most of the used car sellers in the Philippines belong to the unorganized market constituting of free-lancers and individual sellers. However, in the organized market segment, multiband dealers have majority share and are highly competitive in nature when it comes to pricing. The share of Direct Dealership Sales Agents (DDSA) and repossessed cars auctioned by banks is quite less compared to multi-brand dealers in the organized market. The reason for their lower market share in volume sales is because multi-brand dealers offer competitive pricing, better-refurbished units, varied financing options and other value-added services to attract customers. The most popular car brands opted in the Philippines used car market are Toyota, Honda, Nissan, Hyundai, and Mitsubishi. In the Philippines, the auto loan default rate is on surge which has resulted in auctioning of a high number of forfeited units by banks to multi-brand dealers and other small dealers in the market. Major Banks that auctioned the highest volume of a repossessed car in the Philippines are East West Bank, May Bank, PS Bank, BPI, RCBC, Sterling Bank of Asia, Security Bank, BDO, China Bank. Major DDSA’s in the Philippines used car market are Toyota Certified, Honda Philippines, Nissan Intelligent Choice, Hyundai Philippines, and Mitsubishi Certified.
Philippines Used Car Market Future Outlook and Projections
The market size by value of transactions is expected to increase at a 5-year CAGR of 9.9% by value during the time period 2018-2023E. Increase in average ticket size of the used car, increase in demand for used cars, a surge in the online listing of used vehicles is some of the reasons to spur the growth in the used car market of the Philippines. The average ticket size is forecasted to increase due to the increase in certified used car supply and decreasing average replacement period of new cars. It is also expected that within the organized market, DDSA’s market share would increase at the highest pace. This is because customers would prefer to buy certified used cars that guarantee after-sales service and proper refurbishment of the vehicle. The sales volumes of used cars are expected to increase within the organized market because it has been witnessed that individual sellers find it easier to sell the unit to a multi-brand dealer at a fair market price than through word of mouth channels.
 
Key Segments Covered
Philippines Used Car Market Overview and Size
By Type of Market Structure
  • Organized Market
  • Unorganized Market
By Type of Sales Origin (Organised Market)
  • Direct Dealership Sales Agent
  • Repossessed Units Sold By Banks
  • Multi Brand Dealers
By Type of Sales Channel (Organised 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
READ MORE

Scope

1. Executive Summary

2. Research Methodology

2.1. Market Definitions
2.2. Abbreviations
2.3. Market Sizing and Modeling

3. Philippines Used Car Market Value Chain Analysis
3.1. Philippines Used Car Market Ecosystem
3.2. Working Processes Involved in Philippines Used Car market
3.2.1. Upstream Process
3.2.2. Downstream Process

4. Customer Profile of Philippines Used Car Market

5. Philippines Used Car Market, 2014 – 2018

5.1. Philippines Used Car Market Introduction
5.2. Philippines Used Car Market by Transaction Value and by Sales Volume, 2014-2018

6. Philippines Used Car Market Segmentation, 2018
6.1. By Market Structure (Organised and Unorganized Market)
6.2. Organized Market Segmentation by Sales Channel (Online and Dealership Walk-ins)
6.3. By Average Ticket Size of a Used Car
6.4. By Type of Vehicle Manufacturer (Japanese, German, American, Korean, Other European, British and Other)
6.5. By Average Replacement Period
6.5.1. Ordinal Ranking of Major Auto Portals
6.5.2. Computation of Used Motor Vehicle

7. Competitive landscape in Philippines Used Car Market, 2018
7.1. Competition Parameters
7.2. Competitive Scenario in Philippines Used Car Market
7.3. Company Profiles of Direct Dealership Sales Agent (DDSA) (Including Company Overview, USP, Business Strategies, Strength, Weakness, Business Model, Marketing Strategy, Global Operations, Other Services, Pre-Owned Car Sales by Volume, Recent Development and Value Added Services)
7.3.1. Toyota Certified Philippines
7.3.2. Nissan Intelligent Choice Philippines
7.3.3. Honda Philippines Car Inc.
7.3.4. Hyundai Asia Resource Inc.
7.4. Company Profiles of Major Online Auto Portals/ Classifieds (Including Company Overview, USP, Business Strategies, Strength, Weakness, Business Model, Marketing Strategy, Global Operations, Other Services, Pre-Owned Car Sales by Volume, Recent Development and Value Added Services)
7.4.1. Auto Deal Philippines
7.4.2. Car Mudi Philippines
7.4.3. Philkotse Philippines
7.4.4. Carousell Philippines (Olx Philippines)

8. Trends and Developments in Philippines Used Car Market

9. Growth Drivers of Philippines Used Car Market


10. Challenges and Restraints in Philippines Used Car Market


11. Government Regulations in Philippines Used Car Market


12. Sales Channels Used in Philippines Used Car Market


13. Philippines Used Car Market Future Outlook and Projections, 2019E-2023E

13.1. Future Market Projections, 2019E-2023E
13.2. Philippines Used Car Market Future Segmentation, 2019E-2023E
13.2.1. By Market Structure (Organised and Unorganised), 2019E-2023E
13.2.2. By Origin of Sale (Direct Dealership Sales Agent, Repossessed Units Sold By Banks and Multi Brand Dealers), 2018- 2023E

14. Analyst Recommendation

Disclaimer
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List Of Figure

Figure 1-1: Executive Summary of the Philippines Used Car Market, 2018
Figure 3-1: Value Chain of Philippines Used Car Market Including Margins, Source of Procurement and Target Buyers.
Figure 3-2: Value Chain of Philippines Used Car Market in Online Space (Inter-Entity Relationship and Margin Analysis)
Figure 3-4: Upstream Processes in Philippines Used Car Market
Figure 3-5: Downstream Process in Philippines Used Car Market
Figure 4-1: Comparative Analysis of Intent to Upgrade to Different Vehicle (New/Used) on the basis of Financial Stability in Percentage (%)
Figure 5-1: Philippines Used Car Market Size on the basis of Sales Volume in Units and Growth Rate in Percentage (%), 2014-2018
Figure 5-2: Philippines Used Car Market Size on the basis of Transaction Value in PHP Billion and Growth Rate in Percentage (%), 2014-2018
Figure 5-3: Number of Used Car and New Car Sales in Thousands in Philippines, 2014-18
Figure 6-1: Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized Market Structure) on the Basis of Sales Volume in Percentage, 2018
Figure 6-2: Philippines Used Car Organized Market Segmentation by Sales Channel (Offline and Online) on the basis of Sales Volume in Units, 2018
Figure 6-3: Philippines Used Car Market Size by Average Ticket Size of a Vehicle in Pesos and Growth Rate in Percentage (%), 2014–2018
Figure 6-4: Philippines Used Car Market Segmentation by Type of Manufacturer- Origin of Country (Japanese, German, American, Korean, Other European, British, and Other) on the basis of Sales Volume in Percentage, 2018
Figure 6-5: Used Car Sales Volume by Average Replacement Period in Percentage of a Vehicle (First Car Ownership Change) in Philippines, 2018
Figure 6-6: Philippines Used Motor Vehicle (Commercial, Passenger and Motor Cycle) Market Share on the Basis of Volume in Percentage (%), 2018
Figure 7-1: Philippines Organized Used Car Market by Origin of Sale in Percentage (%), 2018
Figure 7-2: Market Share by Type of Car Brand in Philippines Used Car Market on the basis of Sales Volume in Percentage (%), 2018
Figure 7-3: Market Share of Various DDSA’s (Toyota Certified, Honda Philippines, Nissan Intelligent Choice, Hyundai Philippines, Mitsubishi Certified and Others) on the basis of Sales Volume in Percentage (%), 2018
Figure 7-4: Market Share of Major Banks Auctioning Used Cars in Percentage (%), 2018
Figure 7-5: Nissan Claim Process in Case of Accidental Damage to the Vehicle
Figure 7-6: Flow Chart for Revenue Stream for Auto Deal Philippines
Figure 7-7: Revenue Flow Chart of Car Mudi Philippines as of 2018
Figure 7-8: Revenue Flow Chart of Philkotse Philippines as of 2018
Figure 6-9: Types of Packages to List Vehicle on Carousell Philippines (Olx Philippines), 2018
Figure 8-1: Average Price of a Used Car in Philippines, 2014-2018
Figure 8-2: Inflation Trend in Philippines Month on Month in Percentage (%), 2015-2018
Figure 13-1: Philippines Used Car Market Size Future Projections by Transaction Value in PHP Billion and Growth Rate in Percentage (%), 2018-2023E
Figure 13-2: Philippines Used Car Market Size Future Projections on the basis of Sales Volume in Units and Growth Rate in Percentage (%), 2018-2023E
Figure 13-3: Philippines Used Car Market Future Projections for Used Car to New Car Ratio and Growth Rate in Percentage (%), 2018-2023E
Figure 13-4: Philippines Used Market Future Projections by Organized and Unorganized Market by Sales Volume in Percentage (%), 2018-2023E
Figure 13-5: Philippines Used Car Market Segmentation by Type of Channel (Online and Offline Channel) in Organised Market on the basis of Sales Volume in Percentage (%), 2018-2023E
Figure 13-7: Philippines Used Car Market Future Segmentation by Origin of Sale (Direct Dealership Sales Agent, Repossessed Units Sold By Banks and Multi Brand Dealers) on the basis of Sales Volume in Percentage (%), 2018-2023EValue Chain of Philippines Used Car Market in Online Space (Inter-Entity Relationship and Margin Analysis)


List Of Table

Table 2-1: List of Abbreviations
Table 2-2: Correlation Matrix for Philippines Used Car Market
Table 2-3: Regression Coefficients Output for Philippines Used Car Market
Table 3-1: Philippines Used Car Market Ecosystem Consisting of Direct Dealership Sales Agents, Bank Repossessed Cars, Multi Brand Dealers, Individual Sellers and Freelancers, Online Portals and End Users, 2018
Table 3-2: Upstream Process in Philippines Used Car Market
Table 3-3: Downstream Process in Philippines Used Car Market
Table 4-1: Customer Profile of Philippines Used Car Market on the Basis of Demographic Characteristics, Geographical Characteristics and Psychological Characteristics
Table 5-1: Overview of Philippines Used Car Market Including Market Genesis, Supply, Sales Channel, Consumer Demand, Consumer Preference and Major Entities involved in Value Chain
Table 5-2: Rationale and Description for Philippines Used Car Market Size by Sales Volume in Units and by Transaction Value in PHP Billion, 2014 –2018
Table 6-1: Rationale and Description for Philippines Used Car Market by Market Structure (Organized and Unorganized Market) on the Basis of Sales Volume in Units, 2018
Table 6-2: Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized Market) on the Basis of Sales Volume in Units, 2018
Table 6-3: Philippines Used Car Market Segmentation by Sales Channel (Dealership Walk-Ins and Online) on the basis of Sales Volume in Units, 2018
Table 6-4: Used Car Sales Volume by Average Ticket Size in Philippines in PHP, 2018
Table 6-5: Philippines Used Car Market Segmentation by Type of Vehicle Manufacturer- Origin of Country (Japanese, German, American, Korean, Other European, British, and Other) on the basis of Sales Volume in Units, 2018
Table 6-6: Philippines Average Replacement Period Sales Volume on the basis of Vehicle Model/Registration Year
Table 6-7: Number of Used Car Listings on Classified Pages or Online Auto Portals as on November, 2018
Table 7-1: Competition Parameters in Philippines Used Car Market (Including Price, Retail Space, Brand Awareness, Value Added Service, Technical Know-How, Sourcing of Cars and Condition of the Vehicle)
Table 7-2: Total Volume of Used Cars Sold by Organized Players (DDSA, Banks Repossessed Cars and Multi-Brand Dealers) in Philippines in Units, 2018
Table 7-3: Market Share by Type of Car Brand in Philippines Used Car Market on the basis of Sales Volume in Units, 2018
Table 7-4: Market Share of Various DDSA’s (Toyota Certified, Honda Philippines, Nissan Intelligent Choice, Hyundai Philippines, Mitsubishi Certified and Others) on the basis of Sales Volume in Units, 2018
Table 7-5: Total Volume of Repossessed Cars Auctioned By Banks in Philippines in Units, 2018
Table 7-6: Company Profile of Toyota Certified Philippines Including Company Overview, USP, Business Strategies, Strength, Weakness, Business Model, Marketing Strategy, Global Operations, Other Services, Pre-Owned Car Sales by Volume, Recent Development and Value Added Services
Table 7-7: Location of Toyota Certified Showrooms Selling Used Car in Philippines, 2018
Table 7-8: Best Selling Certified Toyota Cars in Philippines as of 2018
Table 7-9: Company Profile of Nissan Intelligent Choice Including Company Overview, Location, USP, Business Strategies, Business Model, Marketing Strategy, Volume of Used Cars, Financing Option and Other Services
Table 7-10: Best Selling Pre-Owned Nissan Cars in Philippines as of 2018
Table 7-11: Company Profile of Honda Philippines Inc including Company Overview, USP, Business Strategies, Business Model, Marketing Strategy and Other Services
Table 7-12: Honda Philippines Preventive Maintenance Cost for 5 Years.
Table 7-13: Best Selling Pre-Owned Honda in Philippines as of 2018
Table 7-14: Company Profile of Hyundai Asia Resource Inc Including Company Overview, USP, Business Strategy, Other Services, No. of Employees and Number of Cars Sold
Table 7-15: Hyundai Asia Resource Inc. Dealership Location in Philippines
Table 7-16: Company Profile of Auto Deal including Company Overview, USP, Business Strategies, No. of Unique Visitors, Listing charge, Number of Dealers Associated, Recent Developments
Table 7-17: Company Profile of Car Mudi Philippines including Company Overview, USP, Business Strategies, Business Model, Marketing Strategy, Average Charge per Dealership, Revenue as of 2018 and Average Fleet of Cars Listed by Dealer at a Point of Time
Table 7-18: Company Profile of Philkotse Philippines Including Company Overview, USP, Business Strategy, Marketing Strategy, Average Number of Dealers listed, New Listings, Average Amount Paid by Dealers to List Vehicles Per Annum and Unique Visitors
Table 7-19: Company Profile of Carousell Philippines Including Company Overview, USP, Business Strategy, Vehicle Listing in 2018, Recent Development, Average Listing Charge
Table 7-20: Ranking of Top 10 Brand and Model by Most Searched Vehicles in Carousell Philippines (Olx Classifieds) in 2018
Table 7-21: Top Five Most Searched Vehicles based on Classification in Carousell Philippines (Olx Classifieds) , 2018
Table 9-1: Philippines Motor Vehicle Loan on the basis of Performing and Non-Performing Loan Portfolio in PHP Billion
Table 9-2: Depreciation Computation on New and Used Vehicle Units in PHP Million
Table 10-1 : Deviation in New and Used Car Cost of Finance in Philippines
Table 11-1: Government Regulation in Philippines Used Car Market
Table 13-1: Rationale and Description for Future Projections to Philippines Used Car Market Size on the basis of Transaction Value in PHP Billion and SalesVolume in Units, 2018-2023
Table 13-2: Rationale and Description for Future Projections to PhilippinesUsed Car Market by Organized and Unorganized Market, 2018 to 2023E
Table 13-3: Philippines Used Car Market Future Projections by Organized and Unorganized Market on the basis of Sales Volume in Units, 2018 to 2023E
Table 13-4: Rationale and Description for Philippines Used Car Market Segmentation by Type of Channel (Online and Offline Channel)in Organised Market on the basis of Sales Volume, 2018-2023E
Table 13-5: Philippines Used Car Market Segmentation by Type of Channel (Online and Offline Channel) in Organised Market on the basis of Sales Volume in Units, 2018-2023E
Table 13-6: Rationale and Description for Philippines Used Car Market Future Segmentation by Origin of Sale (Direct Dealership Sales Agent, Repossessed Units Sold By Banks and Multi Brand Dealers) on the basis of Sales Volume in Units, 2018-2023E
Table 13-7: Philippines Used Car Market Future Segmentation by Origin of Sale (Direct Dealership Sales Agent, Repossessed Units Sold By Banks and Multi Brand Dealers) on the basis of Sales Volume in Units, 2018-2023E
Table 14-1: Analyst Recommendation for Philippines Used Car Market

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Products

Philippines Used Car Market Overview and Size
By Type of Market Structure
  • Organised Market
  • Unorganized Market
By Type of Sales Origin (Organised Market)
  • Direct Dealership Sales Agent
  • Repossessed Units Sold By Banks
  • Multi Brand Dealers
By Type of Sales Channel (Organised 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


Companies

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