One of Japan’s prominent car exporters is coming into the Philippines soon. Apple International (not to be confused with Apple of iPhones) is partnering with a financial group in the PH for a joint venture in auctioning used cars and plans to start operations by next year.
Nikkei Asia reported that Apple International is looking for a place in Luzon as the first site of their auction house. They will establish other sites in other major islands after.
“We initially want the scale to handle 500 to 1,000 vehicles per month,” said Yoshinobu Kubo, President and Chairman of Apple International.
Despite operating in Japan, most of Apple International’s revenue comes from exports to our neighboring countries. The report states that in 2024, 70% of their revenue came from sales in Thailand, Malaysia, and Singapore thanks to the brand power of Japanese cars and the weak yen.
Apple International picked the Philippines after their growth in our neighbor Thailand. They entered the Thai market in 2007 and have since opened up 20 auction sites there. Apple International will use the knowledge they gained there in their venture here in the country.
Car auctions aren’t new in the Philippines. Seasoned car owners know that this is where they can get the most savings in getting used cars. Companies like JBA Philippines, HMR Auto Auctions, and Automart PH are independent auctioneers for cars. Banks also auction off repossessed units. Some of them require onsite presence while others allow you to bid online.
The arrival of a new player in the used car market is certainly welcome. This allows Filipinos more options on getting a private means of transport as cars certainly become more expensive every year.
