Top online automotive selling platform Carmudi Philippines Inc. expects a double-digit growth across all business areas including revenue and traffic.
Newly-appointed Carmudi Philippines managing director Juan Gregorio Syquia said the company saw bigger strides in 2017 anticipating a “potential surge” in pre-owned car sales in 2018.
“Demand will still be there for new and used cars. I can see a bigger traffic for used car sales this year. We don’t see TRAIN (Tax Reform for Acceleration and Inclusion) affecting our business. TRAIN is not a threat to us,” he said.
Carmudi at any given time has about 30,000 listings of pre-owned cars for sale, about three-fourths of the total on its platform. The rest are brand new cars.
About one million unique customers also use the platform every month, and traffic has been increasing, said Syquia.
Carmudi also announced Tuesday that it had raised P10 million to fund improvements in the system.