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Country Report

Luxury Cars in

Premium and Luxury Cars in the Philippines

Jan 2021

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!

2020 IMPACT

Navigating lockdown challenges by engaging consumers with online innovations

The lockdown measurers due to the Covid-19 pandemic forced all car dealerships to close for an extended period during the first half of 2020. In response to this, many luxury car players focused their efforts on engaging consumers online and enabling the traditionally high-touch, physical sales process to be done in an online environment.

Dealers launch innovative pricing and financing strategies to attract consumers

The drastic drop in sales due to the closure of showrooms in the first half of 2020 caused many luxury car brands to react with aggressive promotions and financing options in a bid to boost sales. Examples include BMW, which slashed the prices of its luxury 5, 6 and 7 series cars by roughly a third, giving consumers up to PHP3 million off selected models.

Strong growth for Lexus despite the crisis

Although impacted by the strict lockdown measurers, Lexus experienced relatively strong demand during the first half of 2020 and is expected to end the year with an increased share of sales and strong year-on-year growth over 2019. The launch of the luxury LM minivan contributed to this performance, with Lexus securing 300 pre-orders in February, even before the official launch date.

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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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Premium and Luxury Cars in the Philippines - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Navigating lockdown challenges by engaging consumers with online innovations

Dealers launch innovative pricing and financing strategies to attract consumers

Strong growth for Lexus despite the crisis

RECOVERY AND OPPORTUNITIES

Good growth rates expected, although absolute value sales to remain weak

A focus on personal transportation is likely to drive sales

Government support for electric vehicles could increase demand

CATEGORY DATA

Table 1 Sales of Premium and Luxury Cars: Value 2015-2020
Table 2 Sales of Premium and Luxury Cars: % Value Growth 2015-2020
Table 3 NBO Company Shares of Premium and Luxury Cars: % Value 2015-2019
Table 4 LBN Brand Shares of Premium and Luxury Cars: % Value 2016-2019
Table 5 Forecast Sales of Premium and Luxury Cars: Value 2020-2025
Table 6 Forecast Sales of Premium and Luxury Cars: % Value Growth 2020-2025

Luxury Goods in the Philippines - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods

COVID-19 country impact

Company response

Retailing shift

What next for luxury goods?

MARKET INDICATORS

Table 7 Number of High Net Worth Individuals (HNWI): 2015-2020

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2015-2020
Table 9 Sales of Luxury Goods by Category: % Value Growth 2015-2020
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020
Table 11 NBO Company Shares of Luxury Goods: % Value 2015-2019
Table 12 LBN Brand Shares of Luxury Goods: % Value 2016-2019
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2020
Table 14 Forecast Sales of Luxury Goods by Category: Value 2020-2025
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025

Megatrends

Country Report

Premium and Luxury Cars in the Philippines

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Navigating lockdown challenges by engaging consumers with online innovations

Dealers launch innovative pricing and financing strategies to attract consumers

Strong growth for Lexus despite the crisis

Overview

Why buy this report?

Samples

Delivery

Overview

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Table of Contents

Premium and Luxury Cars in the Philippines - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Navigating lockdown challenges by engaging consumers with online innovations

Dealers launch innovative pricing and financing strategies to attract consumers

Strong growth for Lexus despite the crisis

RECOVERY AND OPPORTUNITIES

Good growth rates expected, although absolute value sales to remain weak

A focus on personal transportation is likely to drive sales

Government support for electric vehicles could increase demand

CATEGORY DATA

Luxury Goods in the Philippines - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods

COVID-19 country impact

Company response

Retailing shift

What next for luxury goods?

MARKET INDICATORS

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

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