In a recent TikTok interview with Aian Guanzon of Global Dominion Financing, Inc., Thomas Mathai, Founder and CEO of Carbay, provided a candid look at the current Philippine automotive landscape. He shared three core observations regarding how the market is evolving for both dealers and buyers.
@gdfiofficial KaPartnerInterviews: “I think some of the prominent Japanese brands are playing it fairly sensibly with the hybrid models that they introduce, which kind of caters to both segments, and gives the customer […] benefits that one could get through electrification in any case in terms of incentivization.” – Thomas Mathai, CarDekho Philippines – Used Car Finance CEO PwedePala KaPartnerMoSaPagAngat — Global Dominion Financing, Inc. is regulated by the Securities and Exchange Commission (SEC). For inquiries or concerns email info@gdfi.ph, text/call 09178272742 or 09688744068, or visit gdfi.com.ph. Global Dominion does not collect application fees. Study the loan Terms and Conditions in the disclosure statement before proceeding with any loan transaction. The views and opinions of the people in this video do not reflect the views of the company. Furthermore, the interviewees and any brands mentioned are not necessarily associated with the Global Dominion. The SEC may be contacted via phone (8-818-5990, 02-5322-7696, 0929-626-3095) or email (cgfd_flcd@sec.gov.ph, flcd_complaints@sec.gov.ph).
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1. Brand Loyalty Persists, But Preferences Are Evolving
While Filipino car buyers remain inherently loyal to Japanese nameplates, the specific types of vehicles they prioritize are shifting. Mathai noted that while brands like Toyota and Mitsubishi continue to dominate the consumer mindset, buyers are moving toward models that offer higher utility.
“Historically, Filipinos have been more brand conscious in terms of the types of vehicles or brands they prefer. The Japanese brands have predominantly dominated the market—the likes of Toyota, Mitsubishi, and others.”
MPVs and SUVs are gaining significant ground in the used car segment as Filipino consumers look for the flexibility and road presence needed for both personal and business use. As we discussed in our guide on car affordability in 2026, this shift toward functional, multi-purpose vehicles reflects a broader need for adaptability on the road.
2. Electric Vehicle Growth Is Structural, Not Temporary
Mathai argues that the rise of electric vehicles (EVs) in the Philippines is a long-term change in buyer behavior rather than a reaction to temporary fuel price spikes.
“Month on month, if you look at initial reports, 2025 data suggests there’s been significant growth in electric vehicle sales if you compare year on year—2024 versus 2025 versus Q1 of 2026. I don’t think that’s all solely attributable to the Middle East war.”
While after-sales support and repairability for imported EV units remain challenges, Mathai believes these are solvable hurdles as the market matures. His verdict remains clear: electrification is here to stay.
3. During Uncertainty, Focus on the Dealer
For Carbay, navigating market turbulence requires returning to the fundamentals: prioritizing the used car dealer as the core customer.
“Our core mantra was always focus on the used car dealer as a customer. Whenever there’s any kind of turbulence or uncertainty in the market, where we recenter our focus again is on the used car dealer as your main customer.”
This focus is driving the adoption of practical digital tools, such as digitized financing applications and API integrations with partners like Global Dominion. By providing real-time visibility into loan statuses, these tools allow dealers to close deals faster and provide customers with a seamless experience.