Nielsen sees car buying boom in the Philippines

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Asean Affairs 28 April 2014

Nielsen sees car buying boom in the Philippines

THE level of car ownership in the Philippines is among the lowest globally, with an estimated 47 per cent of Filipino households not owning their own cars - the fifth lowest globally - according to a study by the market research firm Nielsen.

However, the latest edition of the Nielsen Global Survey of Automotive Demand revealed that local consumers are showing strong intentions of purchasing a new car that will drive much of the local automotive demand in the coming two years.

“Automotive demand in the Philippines has been relatively low and for many households, owning a car has been financially out of reach,” said Nielsen Philippines managing director Stuart Jamieson in a statement.

He stressed, however, that Nielsen’s study pointed to “a more robust automotive demand in the coming years as more households join the middle class and reach the financial means to make their first car purchase.”

The study found that car ownership was relatively low in the Philippines, with 47 per cent of Filipino households not owning a car, while Malaysia posted the third highest level of car ownership globally (93 per cent) and the highest incidence of multiple car ownership globally.

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