Internet and mobile penetration has grown significantly over the years. In the Philippines, more than 30-percent of car buyers use internet to conduct research via online before making a serious purchase.
Carmudi recently unveiled its whitepaper listing on the “Booming Automotive Industry in Emerging Market”. The report provides a global view of consumer-purchasing behavior and automotive sales across the emerging countries from Asia, Africa, Middle East, and Latin America.
The auto e-commerce has grown at a staggering rate of 80-percent of new car customers and almost 100-percent for used car buyers.
Over 73-percent of car dealers in the Philippines reported an increase in car sales over the past 12 months, while only 26.7-percent posted a decrease.
According to Subir Lohani, managing director of Carmudi Philippines, “This is a good opportunity for us to launch the Whitepaper listing in the Philippines as global auto sales increase and level of internet and mobile penetration as well as country's Gross Domestic Product increases.”
Lohani further explained, “The report also mentioned that 28-percent of Filipino buyers were influenced by the Internet when purchasing their cars. Car manufacturer sites, auto expo and Carmudi each helped 25-percent of the customers in reaching their decision in buying a car.”
“With healthy and sustainable economic growth, coupled with strong consumer purchasing power, the Philippines is becoming an increasingly attractive prospect for car manufacturers,” said Lohani.
The report also projected that global sales will rise from 50-percent in 2012 to 60-percent by 2020, while the share of global profits is also set to rise by 10-percent. When it comes to new cars, purchase intent is strongest in Asia, where 65-percent of respondents say they will buy new cars in the next two years, compared with 7-percent who plan to buy used cars.
The company 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.