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Country Report

Luxury Cars in

Luxury Cars in the Philippines

Feb 2019

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Tax reform lowers the cost of luxury cars

Before the Tax Reform for Acceleration and Inclusion (TRAIN) Law was finalised, luxury car companies and distributors in the country were clamouring for fair taxation due to anticipated increases in 2018. However, the industry was surprised by tax cuts for more expensive and luxury cars, while lower-end automobile suffered excise fees.

Luxury hybrids and more luxury brands enter in 2018

Due to luxury-friendly tax reform, luxury car players are seeing a shift towards more expensive models. Lexus Manila reported that prior to 2018 hybrids accounted for small sales due to their very expensive price points.

Government takes strong stance against smuggling

The President of the Philippines has shown a strong willingness to fight corruption and smuggling by destroying fully-functional illegal cars. In an attempt to scare smugglers and uphold the integrity of two significant bodies, the Bureau of Customs and Bureau of Internal Revenue, the government plans to destroy smuggled cars.

COMPETITIVE LANDSCAPE

Mercedes-Benz attracts a wide range of consumers

One of the main reasons for Mercedes-Benz becoming the leading player in a highly-competitive landscape in 2017 was the launch of new models that attracted consumers from different income and age groups. For example, entry-level models like C-Class and GLA-Class allow young professionals to trade-up from non-luxury cars with the brand.

Players set to exploit lower taxes

Tax reform offers strong opportunities for luxury cars companies and distributors as more consumers are expected to be attracted by lower prices. Thus, players active in the Philippines are expected to invest in bringing in new models of luxury cars because local consumers are likely to be more willing to upgrade their vehicles and buy new ones due to the implementation of TRAIN.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Files are delivered directly into your account within a few minutes of purchase.

Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Cars industry in Philippines with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Luxury Cars industry in Philippines, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Cars in Philippines market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Luxury Cars in Philippines?
What are the major brands in Philippines?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our

Luxury Goods market research database.

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Luxury Cars in the Philippines - Category analysis

HEADLINES

PROSPECTS

Tax reform lowers the cost of luxury cars

Luxury hybrids and more luxury brands enter in 2018

Government takes strong stance against smuggling

COMPETITIVE LANDSCAPE

Mercedes-Benz attracts a wide range of consumers

Players set to exploit lower taxes

CATEGORY DATA

Table 1 Sales of Luxury Cars: Value 2013-2018
Table 2 Sales of Luxury Cars: % Value Growth 2013-2018
Table 3 NBO Company Shares of Luxury Cars: % Value 2013-2017
Table 4 LBN Brand Shares of Luxury Cars: % Value 2014-2017
Table 5 Forecast Sales of Luxury Cars: Value 2018-2023
Table 6 Forecast Sales of Luxury Cars: % Value Growth 2018-2023

Luxury Goods in the Philippines - Industry Overview

EXECUTIVE SUMMARY

Luxury goods remains resilient in the face of unfriendly economic conditions

Positive 2018 growth for luxury goods

Highly fragmented, fast-developing industry

Internet retailing shoots for fastest growth

Positive, if slower growth forecast due to economic fears

MARKET INDICATORS

Table 7 Number of High Net Worth Individuals (HNWI): 2013-2018

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2013-2018
Table 9 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 11 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 12 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 14 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

Megatrends

Country Report

Luxury Cars in the Philippines

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Executive Summary

New Report Guarantee

PROSPECTS

Tax reform lowers the cost of luxury cars

Luxury hybrids and more luxury brands enter in 2018

Government takes strong stance against smuggling

COMPETITIVE LANDSCAPE

Mercedes-Benz attracts a wide range of consumers

Players set to exploit lower taxes

Overview

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Overview

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Table of Contents

Luxury Cars in the Philippines - Category analysis

HEADLINES

PROSPECTS

Tax reform lowers the cost of luxury cars

Luxury hybrids and more luxury brands enter in 2018

Government takes strong stance against smuggling

COMPETITIVE LANDSCAPE

Mercedes-Benz attracts a wide range of consumers

Players set to exploit lower taxes

CATEGORY DATA

Luxury Goods in the Philippines - Industry Overview

EXECUTIVE SUMMARY

Luxury goods remains resilient in the face of unfriendly economic conditions

Positive 2018 growth for luxury goods

Highly fragmented, fast-developing industry

Internet retailing shoots for fastest growth

Positive, if slower growth forecast due to economic fears

MARKET INDICATORS

MARKET DATA

SOURCES

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