A Car for Every Filipino Household – Carmudi

Would you like to have your own car?

Carmudi, the online vehicle marketplace in the Philippines, said they are aiming to ease the process in which Filipinos could acquire their own vehicles, especially cars. The firm counts “a car for every Filipino household” as one of its advocacies.

Subir Lohani, the managing director of Carmudi Philippines (www.carmudi.com.ph), said “owning a car does not need to be expensive, you just need to know that there are affordable options out there. And that is what our website is about, to provide Filipinos with a wide selection of vehicles that would fit their needs, budget and lifestyle.”

Carmudi also have a dedicated and easy-to-navigate app for smartphone users, available both in the iOS and Android platforms.

Growing middle class spurs car buying

A 2014 study by Nielsen revealed that 47 percent percent of Filipino households do not own a car, making the Philippines the fifth lowest globally in car ownership level. However, the trend is about to change because of a growing middle class in the Philippines.

The study revealed that 76 percent of Filipinos expressed their plans to finally have their first car within next two years. On the other hand, 96 percent of Filipino car owners intend to upgrade their vehicles when they have the financial capacity to do so.

“We want to be part of their buyer journey, of that period in their life where they have decided to purchase their first ride. Owning a car, after all, is a life changing experience,” Lohani said.

Carmudi’s growth for the past year

Carmudi Philippines, which just turned a year-old last January, currently have close to 25,000 listings of vehicles ranging from cars, motorcycles and commercial vehicles; brand new or used. It claims to be the number one vertical automotive site, catering only to trusted and verified vehicle dealers.

The vehicle buying and selling site also aims to educate its customers on being smart on their purchases by providing helpful tips and hacks on their car blog page. According to Lohani, they want their website to be a one-stop shop for every Filipino car buyer or seller by providing a community-like atmosphere when using their website.

New funding for expansion

Just in this week, the Rocket Internet-back car classifieds obtained $25 million after a fresh investment round. The investment is aimed to boost its operations in Mexico and Asia. Carmudi saw an early growth rate of over 50 percent across 20 of the countries it is in. Some of its markets in Southeast Asia include the Philippines, Myanmar, Indonesia and Vietnam.

More OFW’s buying cars online

Carmudi receives up to 650,000 monthly pageviews with a decent percentage coming from countries abroad such as the United States, Saudi Arabia and Hongkong, where there are Overseas Filipino Workers (OFWs).