AC Motors, one of the Philippines’ largest multi-brand mobility groups, which houses global automotive brands Honda, Isuzu, Volkswagen, Kia, and Maxus, held a media round table discussion for its business venture AC Motors Trade+. AC Motors is a portfolio company of AC Industrials (ACI), Ayala Corporation’s holding and investment firm for industrial technology, manufacturing, vehicle distribution, and retail interests.
AC Motors became the first dealer group in the Philippines to launch Trade+,a business enterprise that offers fast and convenient used car online selling and trade-in program. It provides diverse channels not limited to the trade-in business; a hybrid traditional and online vehicle auction for new buyers and existing owners that streamlines the entire process of selling used cars. It features just a five-day turnaround time—from inspection, to auction, and payment. Customers would also be able to trade in vehicles from any brand, not just those sold by AC Motors.
What makes the Philippine car market unique is that most first-time buyers would opt for those which are budget-friendly. The market’s aspiration, however, still leans towards owning a brand-new car despite the growing popularity of the used car market. Used cars have traditionally been the primary choice of budget-conscious buyers, but with the recent economic downturn in the wake of the pandemic, many buyers still aspire to own a new car that comes complete with the latest technology and features and, most importantly, peace of mind.
Trade-in programs have also gained popularity and market acceptance. What has been missing, however, is a platform and system to benefit both clients selling their vehicles and companies willing to use the transaction as equity for a brand-new car. Existing trade-in programs take an inordinate amount of time—up to three months—before a transaction is completed. This delays the new-car purchase, risking the customer losing interest in the product and brand altogether. Then comes the risk of losing equitable market value for the car to be traded, opening up opportunities for undesirable parties to take advantage of customers willing to trade their vehicles. Instead of the dealer chalking up a sale of a brand new model to a happy customer, such a delay would turn a mutually beneficial opportunity around completely, leading to an often irreversible negative customer experience.
Enter the game-changing AC Motors Trade+, which covers the used car customers with AC Motors’ 30 years of industry experience, over 50 vehicle models to choose from, flexible finance and insurance options, and an in-house team of evaluation experts who take pride in exceptional customer experience and satisfaction.
How does it work? Trade+ takes the hassle out of trading in vehicles and ensures the brand-new car gets into their owner’s garage in the quickest time possible.
- Customer signs up auction form and schedules an appointment for getting the car inspected
The process begins with the customer signing up for the program and submitting their used vehicle information for proper inspection.
- Full vehicle inspection in 48 hours; unit listed for auction
The details obtained during the inspection will then be uploaded into the Trade+ system, where interested parties can negotiate for a fair price. Prices are determined by cutting-edge technology that scours multiple online sources, ensuring the proper market price.
- Payment received in 5 days
When the customer accepts the price, the deal is finalized, with the proceeds going to finance the customer’s new car of choice.
After getting their brand-new car, customers can also enjoy the benefits of proper after-sales services such as expert maintenance, industry-leading warranties, and unparalleled customer support.
The best part is that customers can trade in their old vehicles—no matter the brand—and drive home with a brand-new vehicle from AC Motors. Customers are assured of a quick, efficient, and safe process. But the customer also has the option to just sell his or her used vehicle and not trade-in.