A new wave of premium car models for discerning motorists in the Philippine market

With the number of automobiles in the traffic-congested streets of the Philippines, it can be said that Filipino car buyers have a vast array of options from up and down the pricing spectrum. However, for those with a discerning eye and a taste for the finer things, the allure of luxury cars rests not only on the emotional fulfillment, comfort, and enjoyment that they provide but also on the status and prestige that comes along.

The Philippines fosters a competitive luxury car market. With an increasing number of affluent consumers, the industry is expected to generate around $16 million this year and an annual growth rate of 4.05% until 2028, resulting in a market volume of US$18 million, according to analytics platform Statista.

Leading the premium car market in the country is Lexus, the luxury arm of Japanese car manufacturer Toyota, with 1,843 units sold amounting to 41.92% of the market share in 2023. Due to an influx of new vehicles, Lexus more than doubled their sales in 2022 of only 861 units.

German car manufacturing company Bayerische Motoren Werke AG (BMW) followed with 1,144 units sold last year, a slight drop from 1,160 sales in 2022. Mercedes-Benz rounds out the top three after selling 871 units in 2023 compared to 738 the year prior. BMW and Mercedez-Benz corner a market share of 26.02% and 19.81%, respectively.

Overall performance of the car industry in the country shows growth as the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported an increase in vehicle sales of 265,610 units, a 10.9% increase from 239,501 units during the same period in 2023.

As luxury car manufacturers continue to penetrate the expanding Philippine market, new offerings are set to elevate the automotive experience for Filipino consumers. These latest models promise to enhance the driving experience with advancements such as state-of-the-art infotainment systems, superior safety features, and customization options.

Lexus Philippines, the current leader, debuted the Lexus LBX, the brand’s smallest hybrid crossover yet. The subcompact crossover possesses a minuscule yet stylish exterior that has a unified spindle body and combines familiar design elements from the Lexus RX and UX.

The newly launched car is equipped with a hybrid powertrain that combines a 1.5-liter three-cylinder gasoline engine with an electric motor, generating a combined output of 134 horsepower and 185 Nm of torque. Other features of the LBX include a speaker audio setup, Lexus’ e-Latch system, and a 317-liter trunk at the rear.

BMW Philippines launched at the start of the year its first-ever fully electric vehicle in the Gran Coupé series, the BMW i4. Despite being an electric vehicle, the newly released model features fifth-generation BMW eDrive technology, enabling it to deliver 286 horsepower and a robust high-voltage battery that provides a range of up to 483 kilometers.

Similar to the classic BMW Coupé proportions, the BMW i4 has a long wheelbase with short overhangs and a flowing roofline. The luxury vehicle’s front is bannered by iconic vertically aligned kidneys which conceals state-of-the-art sensor technology that supplies the vehicle with real-time data.

Unlike other EVs, charging the BMW i4 is remarkably efficient. Depending on the charging power, the luxury vehicle’s battery can go from a 10% to 80% charge in just 32 minutes with up to 180 kW of charging power. With up to 11 kW, it brings the battery of the BMW i4 back to 100% charge in just 7 hours.

Just this June, IC Star Automotive, Inc., the official distributor of Mercedes-Benz vehicles in the Philippines, added the Mercedes-Benz EQE SUV at its dealership in Bonifacio Global City, Taguig. The EQE SUV is the latest EV offering of the German brand in the country joining previous models EQA, EQB, and EQS highlighting the company’s commitment to electrification, innovation, and sustainability.

The vehicle’s reported single-charge range of 536 km to 628 km is made possible by the EQE SUV’s lithium-ion battery with a 96-kWh capacity. The EQE SUV’s exterior features a radiator grille, rear lamp elements in 3D helix designs, and the “lighting strike band” of the EQ series as headlamps.

Meanwhile, the car’s interior also screams luxury with specifications such as a 15-speaker Burmester 3D surround sound system dishing out up to 710W of sound, and Active Ambient Lighting allows for the customization of the light strips within. The EQE SUV is quite spacious as well boasting a cargo capacity of 580 liters growing to 1,675 liters with the seatbacks folded.

With leading luxury brands releasing new models of premium automobiles almost yearly, the luxury car market in the Philippines has experienced a dynamic growth that promises to continue amidst an expanding affluent consumer base. With these new arrivals promising cutting-edge technology, superior comfort, and stylish design, Filipino car buyers are set to enjoy an elevated automotive experience. — Jomarc Angelo M. Corpuz