The Philippines used car market was valued at USD 649.20 million in 2024, showcasing the increasing reliance of consumers on pre-owned vehicles as a cost-effective mobility solution. The rising prices of brand-new cars and higher financing costs have encouraged many buyers, especially from the middle-income group, to explore second-hand options that offer both affordability and reliability.
Looking ahead, the market is expected to witness significant growth, supported by the growing presence of digital resale platforms, improved transparency in vehicle history reports, and the rising demand for SUVs and fuel-efficient cars. According to Expert Market Research, the market is projected to grow at a robust CAGR of 6.30% between 2025 and 2034.
By 2034, the Philippines used car market is anticipated to reach a value of nearly USD 1195.94 million. This growth reflects not only changing consumer preferences but also a broader shift toward more organized and certified used car dealerships, which are building trust and boosting adoption across the country.
