Online car platform Carmudi has expressed its firm belief that the automotive sales done online would continue to flourish, following the rapid sales growth in the automotive sector as it approaches the end of the year.
Carmudi Philippines Managing Director Subir Lohani, said, “That the second-hand car market would also grow side-by-side with the influx of sales for the brand new ones, attributing it to the introduction of new features from various automotive manufacturers and importers.”
“2015 is being a good year to the automotive industry. With the projection made by key executives in the industry, we believe that it would continue to rise. Following that thought, buyers and sellers of second hand vehicles can also expect an increase in number,” adds Lohani.
Lohani cited that based on the combined figures from the Chamber of Automotive Manufacturers of the Philippines, Inc. and Trucks Manufacturers Association (CAMPI-TMA), November 2015 sales rose to 26,979 from 21,422 units tallied for the same month in 2014, reflecting a 25.9 percent increase.
He also learned that their year-to-date sales grew to 261,930 units for the first 11 months of the year, which is a 22.7 percent higher compared to the 213,427 units in the same period in 2014.
The promos and other offers of the car dealers, Lohani added, has given potential buyers more power to buy new models.
“That is just for CAMPI-TMA alone, what more if combined with the sales from the members of the (AVID) Association of Vehicle Importers and Distributors, Inc. That means around or more than 310,000 new vehicles more will be added in a span of one year,” Lohani said.
“And if there are more brand new vehicles, some of the pre-loved vehicles are likely to be given a new owner,” he said, as he urged all online sellers to keep their prices low yet competitive to keep the commerce flowing smoothly.
Meanwhile, CAMPI president Atty. Rommel Gutierrez of Toyota Motor Philippines was quoted as saying that that they are most likely to achieve their annual target. “With another impressive growth in November 2015, we are most likely to achieve our target of 310,000 units for the year”, Gutierrez said.
Moreover, Lohani advised the public to be wary of bogus seller s as they are expecting high cases of fraud if the transaction is not done appropriately. “Fraud happens every day. But during the Christmas season where many are getting duped because of the bonus usually happens this time of the year,” he said.