More young BPO workers expected to buy cars

More online traffic are expected in Carmudi’s website as Carmudi officials expect more young professionals to buy more cars. (CARMUDI.COM.PH)

WITH fuel prices going down and the government pushing a program that makes cars more affordable, more young professionals are expected to buy their own cars.

Online car classifieds site Carmudi said car ownership, presently placed at six percent of the Philippine population, is expected to increase not only in Metro Manila but in Metro Cebu as well in the next few years.

Abhishek Mohan, newly appointed managing director of Carmudi Philippines, said young professionals aged 25 to 35 normally aspire to have their own cars.

With a government program like the Comprehensive Automotive Resurgence Strategy or CARS, a car is within reach.

Mohan said Carmudi is positioning to be a reliable buy-and-sell platform for second-hand new automobiles.

The company is also refocusing on Cebu, where a large market exists owing to a vibrant business process outsourcing (BPO) industry.

“We see the whole BPO shift to Cebu. Everyone is focusing on Manila, but we think Cebu is promising,” he said.

Carmudi currently has around 27,600 listings for both new cars and second-hand cars.

Mohan said 70 percent of car sales still comes from Manila. Cebu’s market share, however, is increasing. The company also plans to expand to Mindanao by the third quarter of next year.

Meanwhile, Mohan said Carmudi will be introducing additional and improved security features to their site to facilitate greater consumer trust.

“Our key principle in the company is we’ve always wanted to solve the trust issue in the market in buying second-hand cars. We have set aside investments for ensuring security,” Mohan said.