A recent survey from an online-based classifieds Carmudi revealed that e-commerce on automobiles in the Philippines continues to flourish given the steady economic growth, widespread use of the internet and the upward trend on vehicle sales.
Based on the Carmudi’s Report on the Booming Automotive Industry in Emerging Markets, the Philippines automotive industry showed “a stellar performance throughout last year and early 2015. First quarter of 2015 sales reached 62,882 units, breaking the 60,000 unit record for the first time,” following the “booming economic expansion and growth of the middle class.”
It also claimed that the Philippines is the fastest-growing automobile market in the region, ahead of Singapore, Malaysia, Indonesia and Vietnam, citing the Asean Automotive Federation report for the first half of 2014.
With that, the local arm of Carmudi expressed firm belief that the e-commerce on automobiles should be utilized more in emerging countries such as Philippines.
Lohani said that e-commerce, especially when it comes to automotive and its aftermarket is widespread that many are using the online-based sources, such as company websites, and online classifieds, among others.
Based on Carmudi Car Buyer Survey, potential buyers are being influenced by online sources, including Manufacturer sites, dealer sites, general internet searches, and online classifieds such as Carmudi. The results of the survey showed that 28 percent of the respondents based on the internet versus the 18.7 percent that visited actual dealer sites and auto expos.
He also cited their study wherein more than half of the motor vehicle dealers are tapping the internet to advertise their listings.
“Our study found that 66.7% of car dealers in the country are majorly focused on advertising their listings through the Internet. Online classifieds are also seen as a great way to advertise car listings, with over 46% of car dealer survey participants currently advertising their car listings on online classifieds. Car dealers in Philippines are aware of the potential that social media has, with over 33% reporting active social media use,” Lohani explained.
He also cited the We Are Social’s Digital Report in January 2015, saying that internet access grew by 500 percent over the years, with its highest growth rate in the Southeast Asia. The same report stated that Philippines leads in “Time Spent on the Internet”.
“With all these figures, e-commerce in the region, especially in the Philippines would continue to be enjoyed by many for a long period of time. Manufacturers, or even buy-and-sellers need to find more ways to utilize such this avenue to tap a more diverse market,” Lohani said.
Meanwhile, Beth Lee President of EMotors Inc—expressed firm belief that the internet can be a good source of reliable information and a great avenue when picking a motor vehicle to buy.
“Yes (the online-selling platform can be considered a good source when picking a vehicle to purchase), I believe so. Reliance on info at your fingertips is something people now take for granted. It’s the fastest way to do comparisons and get info on choices before buying. Good platform for information, resource and source. The Internet can hook up buyers and sellers,” she explained.
Carmudi was founded in 2013 and is currently available in Bangladesh, Cameroon, Congo, Ghana, Indonesia, Ivory Coast, Mexico, Myanmar, Nigeria, Pakistan, Philippines, Qatar, Rwanda, Saudi Arabia, Senegal, Sri Lanka, Tanzania, United Arab Emirates, Vietnam, and Zambia. The vehicle marketplace offers buyers, sellers and car dealers the ideal platform to find cars, motorcycles and commercial vehicles online.
Source: Press Release