Dublin, Jan. 26, 2026 (GLOBE NEWSWIRE) -- The "Philippines Used Car - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)" has been added to ResearchAndMarkets.com's offering.
The Philippines Used Car Market is poised for remarkable growth, projected to ascend from USD 0.71 billion in 2025 to USD 0.88 billion in 2026 and anticipate reaching USD 2.62 billion by 2031, with a robust CAGR of 24.30% between 2026-2031. This growth reflects the market's resilience amid economic challenges and the increasing demand for affordable vehicles as new car prices rise and the middle class seeks greater mobility.
The role of digital platforms is pivotal in driving this expansion by enhancing transparency and streamlining transactions. These platforms are expected to proliferate from 2025 to 2030, further benefiting from regulatory reforms such as the LTO's waiver of ownership transfer penalties.
Digitalization of Used-Car Transactions
The digital wave is transforming the transaction landscape of the used car market in the Philippines, with 85% of leads now stemming from online platforms, particularly through social media outlets like Facebook. This shift is drastically reducing the buying cycle as consumers leverage digital tools to compare vehicles, access histories, and arrange financing. Digital platforms are evolving into comprehensive transaction hubs offering services such as online payment processing, digital documentation, and virtual inspections. This transformation is most notable in Metro Manila, with high internet penetration rates, but is increasingly influencing provincial cities as smartphone usage grows.
Middle-Class Expansion
The burgeoning middle class in Metro Manila is fueling demand for affordable mobility, with pre-owned vehicles serving as entry points for first-time car owners. This trend sees young professionals, aged 25-35, favoring value and practical features over prestige. Given their economic pragmatism, they prefer vehicles priced between PHP 500k-1 million, balancing quality and affordability for households with monthly incomes of PHP 50,000-100,000.
Vehicle-History Transparency Issues
The lack of comprehensive vehicle history poses a persistent challenge, undermining consumer confidence, especially in the unorganized segment where documentation is inconsistent. Buyers often rely on limited surface inspections, creating a trust deficit, particularly in provincial regions with restricted access to vehicle verification services.
Other Market Drivers and Restraints:
- OEM trade-in programs and financing options are shortening ownership cycles.
- OFW remittances boost purchases in provincial growth areas.
- Ride-hailing and micro-mobility options present competition, particularly in urban areas.
Segment Analysis
The Philippines Used Car Market Report encompasses a detailed segmentation by vendor type, vehicle type, fuel type, sales channel, vehicle age, and geography. Key companies covered include Carmudi, Carousell, Carmax, and more. Additional report benefits include an Excel market estimate sheet and three months of analyst support.
Unorganized dealers dominated 71.65% of 2025 sales due to lower costs and relationship-focused negotiations. However, they face challenges with documentation. Meanwhile, organized players such as Carmudi and Automart.PH are expanding at a 25.05% CAGR, offering services that include inspection certificates and financing pre-approval, reaching a wider audience through digital and physical presence in major cities.
Sedans, maintaining a 36.10% share of transactions in 2025, are preferred for their low running costs. SUVs and MPVs are gaining traction, growing at 24.72% CAGR, driven by families needing greater ground clearance. The vehicle landscape is dominated by reliable Japanese models, while hatchbacks and vans cater to budget-conscious consumers and large families, respectively.
A selection of companies mentioned in this report includes, but is not limited to:
- Carmudi
- Carousell
- Carmax
- LausGroup
- Toyota Motor Philippines
- Automart.PH
- Philkotse.com
- ZigWheels
- Tsikot.com
- Car Empire
- OLX Philippines
- AutoDeal.com.ph
- Hyundai HARI CPO
- Volkswagen PH
- Ford Philippines
- PGA Cars Premium Used
- Mitsubishi Diamond CPO
- Nissan Intelligent Choice PH
- Suzuki Certified Used Cars
- Isuzu PH Used Truck Centers
- Grab AutoExchange
- BPI Repossessed Cars Marketplace
For more information about this report visit https://www.researchandmarkets.com/r/l0gkzj
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