Carmudi examines the average price of used cars in the region

Philippines Among Most Affordable Asian Countries For Used Cars


Will sustained economic growth and low oil prices help Filipinos take advantage of affordable cars in their country?

Carmudi, the easiest way to sell or buy your car online, analyzed hundreds of thousands of used car listings in order to find out how much consumers spend on used vehicles globally. The study looked at used car models aged 2008 to 2013 to provide insights into price differences across Carmudi countries.

The average price of a used car in the Philippines is $16,719, compared to Sri Lanka ($27,966) and Bangladesh ($33,692). Strong growth for the country’s economy as a whole is expected to continue. The automotive industry has a significant presence in the Philippines, accounting for one-third of the country’s GDP.

The predicted global shift in oil prices, a drop from nearly $100 a barrel in 2014 to around $53 this year, has economic commentators predict even more purchasing power for many Filipinos, which could bring an increase in used car purchases.

The car-shopping experience for buyers in the Philippines can be further improved by new methods of car browsing and sales. Online platforms like Carmudi enable buyers to browse a wider selection of vehicles available in their home country and make an educated choice on the car for the most competitive price.

‘With such presence we see not only more cars being bought in Philippines, but also these purchases being more researched and tailored to the individual buyer’s needs,” said Subir Lohani, managing director of Carmudi Philippines.

“We aim to continuously provide our users with the best car shopping experience and to be number one in the industry. We want Carmudi to be a household name, a one-stop-shop for all car related subjects,” adds Lohani.

Carmudi provides car buyers, sellers and car dealers online

With online shopping being the trend nowadays, more and more websites have emerged over the Internet. But only some guaranteed and dished out positive results. One of which is Carmudi.

Carmudi, the leading vehicle platform around the world, has recently tapped the Philippine automotive scene in providing buyers, sellers, and car dealers an opportunity to experience safe and convenient online transaction.

Carmudi Philippines—through its website www.carmudi.com.ph—has been generating positive leads for potential car buyers and sellers in the country since it started January 2014. The website currently has close to 25,000 vehicles in its inventory spanning from cars, motorcycles and commercial vehicles; brand new or used.

According to Subir Lohani, managing director of Carmudi Philippines, “Having the most number of listings is not the main thing that defines Carmudi.com.ph and Carmudi in general. We look on the quality of listings and value of proposition that we offer both buyers and sellers of vehicles that defines us.”

Lohani explained, “We envision Carmudi Philippines to become a complete one-stop shop for anything vehicle related such as loans, finding an auto repair shop, tips and tricks for your car, and more. Cars are essentially a lifestyle product. Whether it be the brand, model, make, or color, it tells about your individual personality so Carmudi must also evolve into a lifestyle product which we are in process of doing.”

Lohani also shared, “Our search functionality is one of the most important things that differentiates us from the traditional classifieds and online general classifieds. As a dedicated vehicle platform, we realized that buyers want to have the ability to search with certain parameters for their dream cars.”

The company prides itself on how both buyers and sellers will experience customer satisfaction by looking on the complete data list of each vehicle from multiple pictures, descriptions, identifications, and even on the details of map of dealership.

“Being online and having a mobile app has a definite advantage as prospective buyers of vehicles can quickly search with a few swipes of a screen on the go anytime they have a few minutes. Furthermore, once the user sees a vehicle that they are interested in, they can directly sms, email, or call the dealer directly through our online and mobile platforms, which improves efficiency in the overall process,” adds Lohani.

Globally, Carmudi has 250,000 up-to-date listings, 9,000 of which are vehicle dealers. Through Carmudi.com.ph, individual vehicle owners can list their vehicles on the platform, while professional sellers can list their vehicles through the platform and receive professional support on how to present themselves and their offerings.

Carmudi was originally founded in Berlin, Germany in 2013 under the Rocket Internet Group, who also ventures company such as Zalora, Easy Taxi, Lazada, PricePanda, Lamido, Lamudi, and Tripda.