Carmudi Philippines, the local arm of the world's leading vehicle-selling platform, is set to expand its business in the country to more keenly address a target market of discriminating car buyers—not to mention reputable sellers and dealers of used and brand-new vehicles.
Managing Director Abhishek Mohan said that the company is currently evaluating its structure--particularly in view of the automotive industry’s bullish outlook.
A report from Chamber of Automotive Manufacturers of the Philippines, Inc and the Truck Manufacturers Association revealed that the local auto industry posted a 28-percent increase on year-to-date sales for the first eight months of 2016 compared to the same period the previous year. Mohan cited that Carmudi Philippines' latest move—expanding into the brand-new vehicles segment—is very timely with robust sales figures.
“We are now reviewing our current structure and studying what our clients want from us. With the current pace of automotive sales, the company would like to take the golden opportunity at hand to better serve a wider scope of buyers,” Mohan said.
Carmudi Philippines revealed that with the onset of the second half of 2016, the firm is strengthening its presence in the brand-new-cars space by coming up with responsive propositions for both buyers and dealerships. Mohan explained that the move—dubbed the "Lowest Price Guaranteed" campaign on brand-new vehicles—was created to tap the promising client base comprised of car dealers. He maintained that it would be a perfect conjunction to the considerable used-vehicle market that the platform is already known for.
The company welcomes its role in ultimately becoming a spur towards Philippines economic growth through increased car sales. Mohan added that people looking to buy cars via Carmudi are guaranteed real, quality leads with accurate information -- enabling them to make a more informed choice.
The head of Carmudi Philippine congratulated the local automotive industry on its latest feat after CAMPI and TMA members sold 229,919 units for the first eight months of the year, up over 25 percent versus last year’s 179,215 figure for the same period.
Out of the total, 63 percent was accounted for by commercial vehicle sales—44,993 units from January to August 2016. Furthermore, sales for the month of August alone showed stellar results as well—surging by 40 percent to reach 32,472 units against the same month last year.
Mohan expects the industry to easily surpass last year's figures, and even 2016 projections. “The 370,000 sales target would be obviously attainable mark,” he declared.