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Thursday, January 17, 2019

Realtor sees business in car sales

ASIDE from selling property in Cebu and abroad, Cebuano realtor Anthony Leuterio has found a new business to grow—an online car trading site.

Banking on the success of his online rent management portal Rent.ph, Leuterio recently ventured into an online car trading site called Carsavers Philippines that provides listings of available cars for sale, whether brand new or second hand units in Cebu.

According to Leuterio, the site aims to address the growing demand for car ownership in Cebu, which is now becoming a bustling metropolis. Unlike the traditional car selling shop, Carsavers Philippines is banking on the new generation of consumers who are mostly glued to their smartphones.

Leuterio said car buyers may initially check the information of these cars online without having to go to car shops physically. He added what makes the site unique is the presence of car sales experts who will guide buyers in choosing the right car according to their specific preferences such as brand and budget.

The site, he noted, works like online real estate listings where licensed brokers help clients pick the right house according to their preferences.

Carsavers Philippines carries affordable to luxury car brands. It will also partner with financial institutions and car dealers to ensure updated car listings.

The Philippines’ automotive market has been experiencing unprecedented sales growth in the last five years, an industry report said.

Reports from Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) showed that from 168,000 units sold in 2010, vehicle sales in the country reached 288,609 units last year.

The auto industry started 2016 with a strong sales growth of 27.6 percent in January or about 23,808 units sold.

Car dealers in Cebu have noted that the continued surge in car ownership is buoyed by the expansion of the middle class, low interest rate regime, availability of flexible payment options offered by banks, and the healthy growth of the economy as reflected by the increasing number of businesses activities.

“All these factors resulted in growth in various businesses, which fueled demand in vehicles,” said Ilderim Castañares, Isuzu Cebu assistant vice-president and branch manager, in earlier interviews.

The Philippines is poised to become a major automotive market in Southeast Asia by 2020 as domestic sales are expected rise. The industry projects to pump in sales, accounting for eight to 10 percent of the total vehicle sales in the region by 2020.

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