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Philippines Used Car Market Outlook to 2026 (Third Edition)

  • Report
  • 172 Pages
  • March 2022
  • Region: Philippines
  • Ken Research Private Limited
  • ID: 5635399

Driven by the Pandemic Incited New Opportunities for Used Car Dealers and Increased Penetration in the Online Space for Used Car Transactions

The report titled “Philippines Used Car Market Outlook To 2026 (Third Edition): Driven by the Pandemic Incited New Opportunities for Used Car Dealers and Increased Penetration in the Online Space for Used Car Transactions” provides a comprehensive analysis of the used car market trends and performance in Philippines. The report covers several aspects such as volume of used cars & market size, value chain, business models, customer behavior, target audience, trends & developments, growth drivers, issues & challenges faced by the industry, government regulations, SWOT analysis, and other aspects. Further, the report focuses on major Market Segmentations by market structure, origin of sale, ticket size, region, type of vehicle, brand, replacement period, by mileage, etc. Philippines Used Car Industry report concludes with projections for future of the industry including forecasted sales revenue and volume by 2026, impact of Covid-19, snapshot on online used car market, and analysts’ take on the future market scenario.

Philippines Used Car Market Overview and Size:

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 Market Segmentation

  • By Market Structure (Unorganized, and Organized): Organized market constitutes significant share in the overall used car market of Philippines in terms of sales volume in the year 2021. Majority of the vehicle buyers in the country find it easy to trade used cars through the unorganized market channel.
  • By Sales channel (B2C- Multi-brand Dealers, DDSAs, and Bank Repossessed Car Auctions): Multi Brand Dealership outlets are dominating in Philippines due to the large portfolio of vehicles provided with a huge space for negotiation on purchase. However, DDSA certified cars are relatively in better condition due to certification and high quality of refurbishment.
  • By Source of Lead generation (Online, Dealership walk-ins): In Philippines, selling and buying a used vehicle via online classified platform is the most convenient method for customers and dealers. The online channel provides an easy way to buy/sell used cars for the organized players. Since the volume of cars listed by dealers is huge, therefore they are eligible for a bulk listing discount from the online classified pages and online used car portals.
  • By Type of Car: Among this segment Sedans are the market leaders with the highest market share in 2021 followed by SUVs, hatchback, pickup vans, MPVs and others. SUV are one of the most common types of cars that are sold in the market. Since Sedans suit the above requirements best, they are highly preferred by the used car buyers.
  • By Price: The average ticket size of a used car market is growing over the years. Most of the used/pre-owned cars in Philippines are priced in the range of PHP 300k and PHP 500k.
  • By Brand: Toyota is the market leader in Philippines accounting for the largest share of sale of used cars by volume. Japanese brands such as Toyota, Honda, Nissan, Mitsubishi, etc., are the most preferred due to strong brand preference, reliability, longer life span, and higher retention value of the used vehicle
  • By Region: Metro Manila dominates the used vehicle market in Philippines as most of the organized players operate in this 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 Average Replacement Period: It has been observed that average replacement period of a car in Philippines is 4 to 5 years. Most of the individuals in Philippines sell their vehicle after using it for these many years in order to gain maximum utility and get a fair market price after considering depreciation.
  • By Kilometers Driven: The maximum number of cars sold in the year 2021 fell in the range of 20,000 to 50,000 kilometers of mileage.
  • By Fuel: Most Filipinos prefer either gasoline or diesel cars. When it comes to hybrid and electric, their share in the Philippines market is almost negligible given their high prices.

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.

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 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 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

Table of Contents

1. Executive Summary
  • Market Overview
  • Market Segmentation
  • Competitive Landscape
  • Future Scenario
2. Research Methodology
2.1. Market Definitions
2.2. Abbreviations
2.3. Market Sizing and Modeling
  • Approach- Market Sizing
  • Market Sizing Approach
  • Variables Dependent and Independent
  • Multifactor Based Sensitivity Model
  • Limitations
  • Final Conclusion
3. Philippines Used Car Market Value Chain Analysis (Inter-Entity Relationship and Margin 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
3.3. Business Lifecycle of Philippines Used Car Market
4. Business Models (Offline and Online) of Philippines Used Car Market
4.1. Offline Dealers
4.2. Online Auto Classifieds
5. Customer Profile of Philippines Used Car Market
6. Philippines Used Car Market Size, 2016 - 2021P
6.1. Philippines Used Car Market Introduction and Genesis
6.2. Philippines Used Car Market Size by Transaction Value and by Sales Volume, 2016-2021P
  • Philippines Used Car Market by B2C Sales Channel, 2016-2021P
  • Philippines Used Car Market by C2B Sales Channel, 2016-2021P
7. Philippines Used Car Market Segmentation, 2021P
7.1. By Market Structure (Organized and Unorganized Market), 2021P
7.2. Market Segmentation by Lead Generation for the Organized Segment (Online Lead Generation and Dealership Walk-ins), 2021P
7.3. By Origin of Sale for Organized Dealers (Multi-Brand Dealers, Bank Repossessed Cars, and Direct Dealership Sales Agents), 2021P
7.4. By Average Ticket Size (Less than PHP 100K, PHP 100K-300K, PHP 300K-500K, PHP 500K-700K, PHP 700K-1M, and PHP 1M and Above), 2021P
7.5. By Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon (Except Metro Manila), and Mindanao), 2021P
7.6. By Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others), 2021P
7.7. Type of Fuel (Gasoline, Diesel, Hybrid, and Electric), 2021P
7.8. By Type of Vehicle Manufacturer (Japanese, Korean, American, Chinese, German, British and Others), 2021P
7.9. By Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki, and Others), 2021P
7.10. By Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years), 2021P
7.11. By Mileage (Less than 10k, 10k-20k, 20k-50k, 50k-75k, 75k-100k, Above 100k Kms), 2021P
7.12. Ordinal Ranking of Major Auto Portals
  • Classified pages and Used Car Online Portals
7.13. Car Parc in Philippines
  • Car Parc Trend in Philippines
8. Impact of Covid-19 on Philippines’ Used Car Market
  • Multiple Trends
  • Increased Demand
  • Increased Inventory of Repossessed Cars
  • Finance Crunch
  • Adverse Impact on Small Used Car Dealers
  • Expansion of DDSA
9. Trends and Development in Philippines Used Car Market
  • Price Discrepancy
  • Citizens Refraining from Using Public Transport
  • Motor Vehicle Traffic
  • Increased Used Car Awareness
  • Sellers Increasing Awareness
  • Emergence of Classifieds and Online Auto Portals
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
  • Mutli Brand Dealerships
  • DDSA (Direct Dealership Sales Agent)
  • Repossesed Car Auctions
  • Individual Sellers
13. Government Regulations in the Philippines Used Car Market
14. Competitive Landscape in Philippines Used Car Market, 2021P
14.1. Competition Parameters (Including Price, Retail Space, Brand Awareness, Value Added Services, Technical Know-How, Sourcing of Cars and Condition of the Vehicle)
14.2. Competitive Scenario in Philippines Used Car Market
  • Competitive Landscape in Philippines Used Car Market
  • Market Share of DDSA (Direct Dealership Sales Agents)
  • Banks Auctioning Repossessed Cars
  • Multi-Brand Dealers
14.3. Company Profiles of Direct Dealership Sales Agent (DDSA) (Including Company Overview, USP, Business Strategies, Strength, Weakness, Business Model, Marketing Strategy, Global Operations, Pre-Owned Car Sales by Volume, Recent Development and Value Added Services)
14.3.1. Toyota Certified Philippines
14.3.2. Nissan Intelligent Choice Philippines
14.3.3. BMW Premium Selection
14.3.4. Mercedes-Benz Certified
14.3.5. Honda Cars Philippines Inc.
14.4. Company Profiles of Major Online Auto Portals/ Classifieds (Including Company Overview, USP, Business Strategies, No. of Unique Visitors, Listing Charges, Number of Dealers Associated, Recent Developments)
14.4.1. AutoDeal Philippines
14.4.2. Carmudi Philippines
14.4.3. Philkotse Philippines
14.4.4. Carousell Philippines (OLX Philippines)
14.4.5. Zigwheels Philippines
14.4.6. Automart Philippines
14.5. Company Profiles of major banks selling repossessed cars
14.5.1. EastWest Bank Philippines
14.5.2. BDO UniBank Philippines
14.5.3. Security Bank Philippines
14.6. Company Profiles of Major Multi-Brand Dealers Selling Used Cars in the Philippines
  • Concentration Index of Used car dealers (Combined market share of top 6 offline dealers), 2020
15. Philippines Used Car Market Future Outlook and Projections, 2021P-2026F
15.1. Philippines Used Car Market Size Future Outlook and Projections, 2021P-2026F
  • Philippines Used Car Market Future Projections by B2C Sales Channel, 2021P-2026F
  • Philippines Used Car Market Future Projections by C2B Sales Channel, 2021P-2026F
15.2. Philippines Used Car Market Future Segmentation, 2026F
15.2.1. By Distribution Channel (Organized and Unorganized), 2026F
15.2.2. By Lead Generation (Online and Direct Dealership Walk-ins), 2026F
15.2.3. By Origin of Sale (Multi Brand Dealers, Direct Dealership Sales Agent, and Repossessed), 2026F
15.2.4. By Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki, and Others), 2026F
15.2.5. By Age of the car (0-2, 2-4, 4-6, 6-8, and Above 8 Years), 2026F
15.2.6. By Price (less than 100k, 100k-300k, 300k-500k, 500k-700k, 700k-1M, and Above 1 M), 2026F
15.2.7. By Type of Car (Sedan, SUV, Pickup Vans, Hatchbacks, MPV, and Others), 2026F
15.2.8. By Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao), 2026F
15.2.9. By Type of Fuel (Gasoline, Diesel and Others), 2026F
15.2.10. By Mileage (Below 10,000 Kms, 10,000-20,000 Kms, 20,000-50,000 Kms, 50,000-75,000 Kms, 75,000-100,000 Kms, and Above 100,000 Kms), 2026F
16. Buying Decision Parameters for Used Car In Philippines
17. Snapshot on Philippines Online B2C & C2B Used Car Market
  • Key Success Factors for Online Used Car Platforms
18. Philippines Ancillary Services, 2016-2026F
18.1. Philippines Automotive Aftermarket
18.2. Philippines Car Warranty
18.3. Philippines Motor Insurance Premium
18.4. Philippines Overall Used Car Finance
19. Analyst Recommendations
  • Disclaimer
  • Contact the Publisher
LIST OF TABLES
Table 2 1: List of Abbreviations
Table 2 2: Sample Size and Composition by Stakeholders
Table 2 3: Sample Size and Composition by Respondent Category
Table 2 4: Correlation Matrix of Philippines Used Car Market
Table 2 5: Regression Coefficients Output for Philippines Used Car Market
Table 3 1: Upstream Process in Philippines Used Car Market
Table 3 2: Downstream Process in Philippines Used Car Market
Table 5 1: Customer Profile of Philippines Used Car Market on the Basis of Demographic Characteristics, Geographical Characteristics and Psychological Characteristics
Table 6 1: Overview of Philippines Used Car Market including Market Genesis, Supply, Sales Channel, Consumer Demand, Consumer Preference and Major Entities involved in the Industry’s Value Chain
Table 6 2: Rationale and Description for Philippines Used Car Market Size by Sales Volume in Units and by Transaction Value in PHP Billion, 2016-2021P
Table 7 1: Rationale and Description for Philippines Used Car Market by Market Structure (Organized and Unorganized Market) on the Basis of Sales Volume in Units and Percentage share, 2021P
Table 7 2: Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized Market) on the Basis of Sales Volume in Units, 2021P
Table 7 3: Philippines Used Car Market Segmentation by Lead Generation (Online Lead Generation and Dealership Walk-Ins) on the basis of Sales Volume in Units, 2021P
Table 7 4: Philippines Used Car Organized Market Segmentation by Origin of Sale (Multi-Brand Dealers, Bank Repossessed Cars, and Direct Dealership Sales Agents) on the Basis of Sales in Units, 2021P
Table 7 5: Philippines Used Car Market Segmentation by Average Ticket Size (Less than PHP 100K, PHP 100K-300K, PHP 300K-500K, PHP 500K-700K, PHP 700K-1M, and PHP 1M and Above) on the Basis of Sales Volume in Units, 2021P
Table 7 6: Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the Basis of Sales Volume in Units, 2021P
Table 7 7: Philippines Used Car Market Segmentation by Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others) on the Basis of Sales Volume in Units, 2021P
Table 7 8: Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel, Hybrid and Electric) on the Basis of Sales Volume in Units, 2021P
Table 7 9: Philippines Used Car Market Segmentation by Type of Vehicle Manufacturer- Origin of Country (Japanese, Korean, American, Chinese, German, British, and Others) including Brand on the Basis of Sales Volume in Units, 2021P
Table 7 10: Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the Basis of Sales in Units, 2021P
Table 7 11: Philippines Used Car Market Segmentation by Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years) on the Basis of Sales Volume in Units, 2021P
Table 7 12: Cross-Comparison of Car Age including Average Price, Body Type, Brands and Target Audience in the Philippines Used Car Market, 2021P
Table 7 13: Philippines Used Car Market Segmentation by Average Mileage Driven (Less than 10k, 10k-20k, 20k-50k, 40k-75k, 75k-100k, Above 100k Kms) on the Basis of Sales Volume in Units, 2021P
Table 7 14: Number of Used Car Listings on Classified Pages or Online Auto Portals
Table 13 1: Government Regulations prevailing in the Philippines Used Car Market
Table 13 2: Procedure of buying/selling any used car from/in the organized market segment in Philippines
Table 14 1: Competition Parameters in Philippines Used Car Market (Including Price, Retail Space, Brand Awareness, and Value Added Services, Technical Know-How, Sourcing of Cars and Condition of the Vehicle)
Table 14 2: Market Share of Various DDSA’s (Toyota Certified,  Nissan  Intelligent Choice, Mercedes Benz, BMW Certified and Others) on the Basis of Sales Volume in Units, 2020
Table 14 3: Inventory of Repossessed Cars in the Banks of Philippines
Table 14 4: 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 14 5: Location of Toyota Certified Showrooms Selling Used Car in Philippines, 2020
Table 14 6: Best Selling Toyota Certified Cars in Philippines, as of 2020
Table 14 7: Company Profile of Nissan Intelligent Choice Including Company Overview, Location, USP, Business Strategies, Business Model, Marketing Strategy, Volume of Used Cars, Financing Option, Value Added Services and Recent Developments
Table 14 8: Best Selling Pre-Owned Cars sold by Nissan Intelligent Choice in the Philippines, as of 2020
Table 14 9: Company Profile of BMW Premium Selection Certified Including Company Overview, Business Strategy, Warranty, Value Added Services, USP, Number of Car sold, Financing Affiliations, No. of outlets, Inspection and Recent Developments
Table 14 10: Company Profile of Mercedes-Benz Philippines including Company Overview, Location, USP, Business Model, Warranty, Weaknesses, Number of Cars Sold, Inspection, Financing Affiliations, Inventory as of August 2021 and Recent Developments
Table 14 11: Company Profile of Honda Cars Philippines Inc. including Company Overview, USP, Business Strategies, Business Model, Marketing Strategy and Value Added Services
Table 14 12: Company Profile of AutoDeal including Company Overview, USP, Business Strategies, No. of Unique Visitors, Listing Packages, Number of Dealers Associated, Recent Developments, and Value Added Services
Table 14 13: Company Profile of Carmudi Philippines including Company Overview, USP, Marketing Strategies, Business Model, Global Presence, Recent Developments
Table 14 14: Company Profile of Philkotse Philippines Including Company Overview, USP, Business Strategy, Marketing Strategy, Average Number of Dealers listed, New Listings, Unique Visitors
Table 14 15: Company Profile of Carousell Philippines Including Company Overview, USP, Business Model, Vehicle Listing, Recent Developments, Average Listing Charge, Packages Offered and Top brands
Table 14 16: Company Profile of Zigwheels Philippines Including Company Overview, USP, Business Strategy, Vehicle Listing in 2021, Recent Developments, Weaknesses, Value Added services and Revenue Model
Table 14 17: Company Profile of Automart Philippines Including Company Overview, USP, Business Strategy, Vehicle Listing, Recent Development, Revenue Model, Inspection, Dealers, Warranty, Sales 2020, Value added services, Payment Options, Strength and Weaknesses
Table 14 18: Heat Map Analysis for Online Used Car Players (Auto - Portals) on the Basis of Vehicle Inspection, Financing Facilities, Affiliation with Used Car Dealers, Insurance, Premium Listing Service, and Online Bidding Service
Table 14 19: Company profile of EastWest Bank Including Bank Overview, Inventory, Business Strategy, Sales, Recent Developments, Inspection, Warranty, and Warehouses
Table 14 20: Company Profile of BDO UniBank including Overview, Inventory, Business Strategy, Recent Developments, Inspection, Warranty, and Warehouses
Table 14 21: Company profile of Security Bank Including Bank Overview, Inventory, Business Strategy,  Recent Developments, Inspection, Warranty, Warehouses, and Bidding Procedure
Table 14 22: Comparing the Financing Options of Banks in Philippines for Auto Loans of New and Used Cars on the Basis of Interest Rates and Down Payment Options
Table 14 23: Company Profiles of Major Multi-brand dealers of Used Cars in the Philippines such as Carmix, Automobilico, Carmax, All Cars, Berylle Car Sales, and Five Aces Used Cars
Table 14 24: Heat Map Analysis for Major Multi Brand Dealers in Philippines Used Car Market on the Basis of Vehicle Inspection, Valuation of a Vehicle, Car Finance Service, After Sale Service, Car Warranty Service, Certification, and Customer Consulting Service
Table 15 1: Rationale and Description for Philippines Used Car Market Size Future Projections on the Basis of Gross Transaction Value in PHP Billion and Sales Volume in Units, 2021P-2026F
Table 15 2: Rationale and Description for Philippines Used Car Market Segmentation by Distribution Channel on the basis of Sales Volume, 2026F
Table 15 3: Future Outlook and Projections of Philippines Used Car Market Segmentation by Distribution Channel (Organized and Unorganized) in the overall Market on the Basis of Sales Volume in Units, 2026F
Table 15 4: Rationale and Description for Philippines Used Car Market Segmentation by Type of Channel (Online and Offline Channel) in the Organized Market on the Basis of Sales Volume, 2026F
Table 15 5: Philippines Used Car Market Segmentation by Type of Channel (Online and Offline Channel) in Organized Market on the basis of Sales Volume in Units, 2026F
Table 15 6: Rationale and Description for Philippines Used Car Market Future Segmentation by Origin of Sale (Multi Brand Dealers, Direct Dealership Sales Agent, and Repossessed) on the Basis of Sales Volume in Units, 2026F
Table 15 7: Future Outlook and Projections of Philippines Used Car Market (Organized) Segmentation by Origin of Sale (Multi Brand Dealers, Direct Dealership Sales Agent, and Repossessed) on the Basis of Sales Volume in Units, 2026F
Table 15 8: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the basis of Sales Volume n Units, 2026F
Table 15 9: Future Outlook and Projections of Philippines Used Car Market Segmentation by Age (0-2, 2-4, 4-6, 6-8, and above 8 years) on the Basis of Sales Volume in Units, 2026F
Table 15 10: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (less than 100k, 100k-300k, 300k-500k, 500k-700k, 700k-1M, and Above 1 M) on the basis of Sales Volume in Percentage (%), 2026F
Table 15 11: Future Outlook and Projections of Philippines Used Car Market Segmentation by Car Type (Sedan, SUV, Pickup Vans, Hatchbacks, MPV, and Others) on the basis of Sales in Units, 2026F
Table 15 12: Future Outlook and Projections of Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the Basis of Sales in Units, 2026F
Table 15 13: Future Outlook and Projections of Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel and Others) on the Basis of Sales Volume in Units, 2026F
Table 15 14: Future Outlook and Projections of Philippines Used Car Future Market Segmentation by Mileage (Below 10,000 Kms, 10,000-20,000 Kms, 20,000-50,000 Kms, 50,000-75,000 Kms, 75,000-100,000 Kms, and Above 100,000 Kms) on the Basis of Sales Volume in Units, 2026F
Table 16 1: Buying Decision Parameters for Used Car in Philippines
Table 19 1: Analyst Recommendation for Philippines Used Car Market
LIST OF FIGURES
Figure 1 1: Flow Chart of Philippines Used Car Market, 2021P
Figure 1 2: Philippines Used Car Market Flow Chart, 2026F
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)
Figure 3 3: Upstream Processes in Philippines Used Car Market
Figure 3 4: Downstream Process in Philippines Used Car Market
Figure 3 5: Business Cycle of Philippines Used Car Market
Figure 4 1: Revenue Streams for Offline Dealers Business Models Prevalent in Philippines Used Car Market
Figure 4 2: Revenue Streams for Online Auto Classifieds Business Models Prevalent in Philippines Used Car Market
Figure 6 1: Philippines Used Car Market Size on the Basis of Sales Volume in Units and Gross Transaction Value in PHP Billion, 2016-2021P
Figure 6 2: Philippines Used Car Market Size on the Basis of Total Used Car Sales and Total New Car Sales in Thousand Units, 2016-2021P
Figure 6 3: Philippines Used Car Market on the Basis of Used Car to New Car Ratio, 2016-2021P
Figure 6 4: Average Ticket Price in Philippines Used Cars Market in PHP, 2016-2021P
Figure 6 5: Philippines B2C Used Car Market Size on the Basis of Sales Volume in Thousand Units and Growth Rate in Percentage (%), 2016-2021P
Figure 6 6: Philippines B2C Used Car Market Size on the Basis of Gross Transaction Value in PHP Billion and Growth Rate in Percentage (%), 2016-2021P
Figure 6 7: Philippines C2B Used Car Market Size on the Basis of Sales Volume in Thousand Units and Growth Rate in Percentage (%), 2016-2021P
Figure 6 8: Philippines C2B Used Car Market Size on the Basis of Gross Transaction Value in PHP Billion and Growth Rate in Percentage (%), 2016-2021P
Figure 7 1: Philippines Used Car Market Segmentation by Market Structure (Organized and Unorganized Market Structure) on the Basis of Sales Volume in Percentage, 2021P
Figure 7 2: Philippines Used Car Organized Market Segmentation by Lead Generation (Online Lead Generation and Dealership Walk-Ins) on the Basis of Sales in Percentage (%), 2021P
Figure 7 3: Philippines Used Car Organized Market Segmentation by Origin of Sale (Multi-Brand Dealers, Bank Repossessed Cars, and Direct Dealership Sales Agents) on the Basis of Sales in Percentage (%), 2021P
Figure 7 4: Philippines Used Car Market Segmentation by Average Ticket Size (Less than PHP 100K, PHP 100K-300K, PHP 300K-500K, PHP 500K-700K, PHP 700K-1M, and PHP 1M and Above) on the Basis of Sales in Percentage (%), 2021P
Figure 7 5: Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the Basis of Sales in Percentage (%), 2021P
Figure 7 6: Philippines Used Car Market Segmentation by Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others) on the Basis of Sales in Percentage (%), 2021P
Figure 7 7: Cross Comparison between Type of Vehicle (Sedans, SUVs, Hatchbacks, Pickups and MPVs) including Average Price, Average Car Replacement Age, Major Car Brands, Target Audience, and Target Audience on the basis of Family Size, 2021P
Figure 7 8: Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel, Hybrid and Electric) on the Basis of Sales in Percentage (%), 2021P
Figure 7 9: Philippines Used Car Market Segmentation by Type of Vehicle Manufacturer- Origin of Country (Japanese, Korean, American, Chinese, German, British, and Others) including Brand on the Basis of Sales in Percentage (%), 2021P
Figure 7 10: Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the Basis of Sales in Percentage (%), 2021P
Figure 7 11: Philippines Used Car Market Segmentation by Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years) on the Basis of Sales in Percentage (%), 2021P
Figure 7 12: Philippines Used Cars Sales in Percentage (%) on the basis of Average Mileage driven (Less than 10k, 10k-20k, 20k-50k, 40k-75k, 75k-100k, Above 100k Kms), 2021P
Figure 7 13: Philippines Car Parc on the Basis of Total Number of Cars in Use in the Country, 2016-2021P
Figure 8 1: Philippines Used Car Market Sales Trend on the Basis of M-o-M sales (Pre-Covid, Peak-Covid, and Recovery), 2020 (Non-Scale Graph)
Figure 9 1: Estimated Average Price of a Used Car in Philippines, 2016-2021P
Figure 14 1: Market Share of Various DDSA’s (Toyota Certified, Nissan Intelligent Choice, Mercedes-Benz Certified, BMW Certified and Others) on the Basis of Sales Volume in Percentage (%), 2020
Figure 14 2: Philippines Used Car Market Share by Top 6 Offline Dealers on the Basis of Sales Volume in Percentage (%), 2020
Figure 15 1: Philippines Used Car Market Size Future Projections on the Basis of Sales Volume in Units and Gross Transaction Value in PHP Billion, 2021P-2026F
Figure 15 2: Philippines Used Car Market Size Future Projections on the Basis of Total Used Car Sales and Total New Car Sales in Thousand Units, 2021P-2026F
Figure 15 3: Philippines Used Car Market Future Projections on the Basis of Used to New Car Ratio, 2021P-2026F
Figure 15 4: Philippines Used Car Market future Projections on the Basis of Average Ticket Size in PHP, 2021P-2026F
Figure 15 5: Philippines B2C Used Car Market Size on the Basis of Sales Volume in Thousand Units and Growth Rate in Percentage (%), 2021P-2026F
Figure 15 6: Philippines B2C Used Car Market Size on the Basis of Gross Transaction Value in PHP Billion and Growth Rate in Percentage (%), 2021P-2026F
Figure 15 7: Philippines C2B Used Car Market Size on the Basis of Sales Volume in Thousand Units and Growth Rate in Percentage (%), 2021P-2026F
Figure 15 8: Philippines C2B Used Car Market Size on the Basis of Gross Transaction Value in PHP Billion and Growth Rate in Percentage (%), 2021P-2026F
Figure 15 9: Future Outlook and Projections of Philippines’ Used Car Market Segmentation by Distribution Channel (Online and Offline) in the overall Market on the Basis of Sales in Percentage (%), 2021P and 2026F
Figure 15 10: Future Outlook and Projections of Philippines Used Car Market Segmentation by lead generation (Online and Dealership walk-ins) in the Organized Market on the basis of Sales in Percentage (%), 2021P and 2026F
Figure 15 11: Future Outlook and Projections of Philippines Used Car Market (Organized) Segmentation by Origin of Sale (Multi-Brand Dealers, Direct Dealership Sales Agents, and Repossessed) on the Basis of Sales in Percentage (%), 2021P-2026F
Figure 15 12: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki and Others) on the basis of Sales Volume in Percentage (%), 2026F
Figure 15 13: Future Outlook and Projections of Philippines Used Car Market Future Segmentation by Age (0-2, 2-4, 4-6, 6-8, and Above 8 Years) on the Basis of Sales in Percentage (%), 2026F
Figure 15 14: Future Outlook and Projections of Philippines Used Car Market Segmentation by Brand (less than 100k, 100k-300k, 300k-500k, 500k-700k, 700k-1M, and Above 1 M) on the Basis of Sales in Percentage (%), 2026F
Figure 15 15: Future Outlook and Projections of Philippines Used Car Market Segmentation by Car Type (Sedan, SUV, Pickup Vans, Hatchbacks, MPV, and Others) on the Basis of Sales in Percentage (%), 2026F
Figure 15 16: Future Outlook and Projections of Philippines Used Car Market Segmentation by Region (Metro Manila, Northern Luzon, Visayas, Southern Luzon, and Mindanao) on the basis of Sales in Percentage (%), 2026F
Figure 15 17: Future Outlook and Projections of Philippines Used Car Market Segmentation by Type of Fuel (Gasoline, Diesel and Others) on the Basis of Sales in Percentage (%), 2026F
Figure 15 18: Future Outlook and Projections of Philippines Used Car Market Segmentation by Mileage (Below 10,000 Kms, 10,000-20,000 Kms, 20,000-50,000 Kms, 50,000-75,000 Kms, 75,000-100,000 Kms, and Above 100,000 Kms) on the Basis of Sales in Percentage (%), 2026F
Figure 17 1: Philippines Online C2B & B2C Used Car Market Size on the Basis of Sales Volume in Million Units, 2021P-2026F
Figure 17 2: Philippines Online C2B & B2C Used Car Market Size on the Basis of Gross Transaction Value in USD Billion, 2021P-2026F
Figure 18 1: Philippines Automotive Aftermarket Size in PHP Billion and Growth Rate in Percentage (%), 2016-2021P
Figure 18 2: Philippines Automotive Aftermarket Size Future Projections in PHP Billion and Growth Rate in Percentage (%), 2021P-2026F
Figure 18 3: Philippines Car Warranty Value in PHP Billion and Growth Rate in Percentage (%), 2016-2021P
Figure 18 4: Philippines Car Warranty Value Future Projections in PHP Billion and Growth Rate in Percentage (%), 2021P-2026F
Figure 18 5: Philippines Overall Motor Insurance Premium in PHP Billion and Growth Rate in Percentage (%), 2016-2021P
Figure 18 6: Philippines Overall Motor Insurance Premium Future Projections in PHP Billion and Growth Rate in Percentage (%), 2021P-2026F
Figure 18 7: Philippines Overall Used Car Finance Disbursed in PHP Billion and Growth Rate in Percentage (%), 2016-2021P
Figure 18 8: Philippines Overall Used Car Finance Disbursed Future Projections in PHP Billion and Growth Rate in Percentage (%), 2021P-2026F

Executive Summary

The report titled “Philippines Used Car Market Outlook To 2026 (Third Edition): Driven by the Pandemic Incited New Opportunities for Used Car Dealers and Increased Penetration in the Online Space for Used Car Transactions” provides a comprehensive analysis of the used car market trends and performance in Philippines. The report covers several aspects such as volume of used cars & market size, value chain, business models, customer behavior, target audience, trends & developments, growth drivers, issues & challenges faced by the industry, government regulations, SWOT analysis, and other aspects. Further, the report focuses on major market segmentations by market structure, origin of sale, ticket size, region, type of vehicle, brand, replacement period, by mileage, etc. Philippines Used Car Industry report concludes with projections for future of the industry including forecasted sales revenue and volume by 2026, impact of Covid-19, snapshot on online used car market, and analysts’ take on the future market scenario.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 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