Apple International, a Japan-based car exporter and auctioneer is heading to the Philippines. The company will target to launch in 2026 as it teams up with a major local finance firm.
A leading Japanese auction company, the company aims to establish first in Luzon where it will handle around 500 to 1,000 vehicles a month. It will soon expand its presence to other major islands after.
Citing the Philippines’ young population and robust economy, Apple International selected it as its second global market after Thailand which it entered in 2007. Since then, they’ve managed to open 20 auction sites in the Kingdom. The company says they will use the knowledge gained there in their Philippine venture.
Although Apple International operates in Japan, most of their revenue (70 percent) comes from overseas markets. In Thailand, they export and sell used cars from Japan, which is only possible due to Japan and Thailand being both right-hand drive.
Once it operates in the Philippines, it will likely handle the auction of repossessed units (hence the partnership with the finance firm). Once they start operation, they will go head-to-head with the likes of HMR Auto Auctions and even United Aunctioneers, Inc.
No comments:
Post a Comment
Feel free to comment or share your views. Comments that are derogatory and/or spam will not be tolerated. We reserve the right to moderate and/or remove comments.