Sales Percentage of Used Cars in the Philippines

According to a report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), the sales of new cars in the country reached 369,941 units in 2019, while the sales of used cars reached 1,032,993 units. This shows that the sales of used cars in the Philippines are significantly higher than the sales of new cars, with used cars accounting for more than 70% of total vehicle sales.

The report attributes the high sales of used cars in the Philippines to several factors, including the high cost of new cars, the limited financing options for new cars, and the growing demand for affordable transportation. Many Filipinos opt to buy used cars as they offer a more cost-effective option for those who cannot afford to buy a new car.

In terms of the types of used cars sold in the Philippines, the report shows that Japanese brands such as Toyota, Mitsubishi, and Honda are the most popular. These brands are known for their reliability and durability, making them popular choices among Filipino car buyers.

Despite the high sales of used cars, the sales of new cars in the Philippines have been steadily increasing over the years. The report shows that the sales of new cars increased by 3.5% in 2019, driven by the growing demand for SUVs and commercial vehicles.

In conclusion, the sales percentage of used cars versus new cars in the Philippines shows that many Filipinos prefer to buy used cars as a more affordable option for their transportation needs. However, the sales of new cars are also increasing, driven by the demand for the latest technology and features. As the automotive industry in the Philippines continues to evolve, it will be interesting to see how the sales of used and new cars will shift in the coming years.