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Country Report

Luxury Cars in

Premium and Luxury Cars in the Philippines

Jan 2020

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

Luxury car category recovers following impact of tax changes implemented towards end of review period

Luxury cars saw a recovery in 2019, following the significant drop seen the previous year. Sales of luxury cars saw growth due to the decline in the higher excise taxes on automobiles brought about by the Tax Reform for Acceleration and Inclusion (TRAIN) law, which was enacted in January 2018.

Illegal vehicles destroyed in government crackdown

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.

Increased sales of luxury cars expected as illegal vehicles are taken out of the loop

The government’s attack on the illegal consumption of luxury cars suggests that consumers will have to resort to legal ways of purchasing such vehicles. This represents a positive development for players in the luxury cars environment, which have long been impacted by corruption in the government system.

COMPETITIVE LANDSCAPE

Asian Carmakers Corp increases lead

Asian Carmakers Corp remained the leading player in the category in 2018, and saw a value share gain that consolidated its leading position. Alfa Romeo made a comeback through its Giulia model range to take advantage of the growing population of luxury car enthusiasts.

Mercedes-Benz encourages young professionals to trade up with competitive finance options

Auto Nation Group Inc, owner of the Mercedes-Benz brand in the Philippines, saw a value share gain in 2018. One of the main reasons for this was the launch of new models that attracted consumers from different income and age groups.

New entrants expected due to increasing demand

Tax reform offers strong opportunities for luxury car companies and distributors as an increasing number of consumers are expected to be attracted by vehicles at lower prices. Thus, players active in the Philippines are expected to invest in introducing new luxury car models 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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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

HEADLINES

PROSPECTS

Luxury car category recovers following impact of tax changes implemented towards end of review period

Illegal vehicles destroyed in government crackdown

Increased sales of luxury cars expected as illegal vehicles are taken out of the loop

COMPETITIVE LANDSCAPE

Asian Carmakers Corp increases lead

Mercedes-Benz encourages young professionals to trade up with competitive finance options

New entrants expected due to increasing demand

CATEGORY DATA

Table 1 Sales of Premium and Luxury Cars: Value 2014-2019
Table 2 Sales of Premium and Luxury Cars: % Value Growth 2014-2019
Table 3 NBO Company Shares of Premium and Luxury Cars: % Value 2014-2018
Table 4 LBN Brand Shares of Premium and Luxury Cars: % Value 2015-2018
Table 5 Forecast Sales of Premium and Luxury Cars: Value 2019-2024
Table 6 Forecast Sales of Premium and Luxury Cars: % Value Growth 2019-2024

Luxury Goods in the Philippines - Industry Overview

EXECUTIVE SUMMARY

Men and millennials represent increasingly important consumer groups, customisation and exclusivity increasingly important

Easing of inflation stimulates growth, enables middle-income consumers to move upmarket

Market remains relatively fragmented, Kering sees notable improvement through performance of Gucci and Yves Saint Laurent

Luxury goods retailers expand into variety of locations, bricks and mortar remains king despite net-savvy consumer base

Economic stability, infrastructure developments and tourism market growth all set to underpin market’s future performance

MARKET INDICATORS

Table 7 Number of High Net Worth Individuals (HNWI): 2014-2019

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2014-2019
Table 9 Sales of Luxury Goods by Category: % Value Growth 2014-2019
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2014-2019
Table 11 NBO Company Shares of Luxury Goods: % Value 2014-2018
Table 12 LBN Brand Shares of Luxury Goods: % Value 2015-2018
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2019
Table 14 Forecast Sales of Luxury Goods by Category: Value 2019-2024
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2019-2024

Megatrends

Country Report

Premium and Luxury Cars in the Philippines

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Executive Summary

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PROSPECTS

Luxury car category recovers following impact of tax changes implemented towards end of review period

Illegal vehicles destroyed in government crackdown

Increased sales of luxury cars expected as illegal vehicles are taken out of the loop

COMPETITIVE LANDSCAPE

Asian Carmakers Corp increases lead

Mercedes-Benz encourages young professionals to trade up with competitive finance options

New entrants expected due to increasing demand

Overview

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Overview

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Table of Contents

Premium and Luxury Cars in the Philippines - Category analysis

HEADLINES

PROSPECTS

Luxury car category recovers following impact of tax changes implemented towards end of review period

Illegal vehicles destroyed in government crackdown

Increased sales of luxury cars expected as illegal vehicles are taken out of the loop

COMPETITIVE LANDSCAPE

Asian Carmakers Corp increases lead

Mercedes-Benz encourages young professionals to trade up with competitive finance options

New entrants expected due to increasing demand

CATEGORY DATA

Luxury Goods in the Philippines - Industry Overview

EXECUTIVE SUMMARY

Men and millennials represent increasingly important consumer groups, customisation and exclusivity increasingly important

Easing of inflation stimulates growth, enables middle-income consumers to move upmarket

Market remains relatively fragmented, Kering sees notable improvement through performance of Gucci and Yves Saint Laurent

Luxury goods retailers expand into variety of locations, bricks and mortar remains king despite net-savvy consumer base

Economic stability, infrastructure developments and tourism market growth all set to underpin market’s future performance

MARKET INDICATORS

MARKET DATA

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