UAE Used Car Transaction Value is Expected to Grow at CAGR of 10% From 2017-2022: Ken Research
GURUGRAM, India, November 14, 2018 /PRNewswire/ --
November' 2018 |UAE News
- In 2018, Liberty Automobiles started providing RTA certified vehicle licensing, registration and testing services for all GM models. This will help the end user to resort to one place where they can get the registration process completed without any hassle.
- In June 2017, Automall opened a new showroom in Dubai Festival City of about 12,000 sqm. covered area accommodating over 400 cars from popular brands including Nissan, Toyota, Honda, Hyundai, Kia, Dodge, Ford, Mitsubishi, Chevrolet, Jeep and more. Popular luxury brands are also represent with models from BMW, Mercedes, Lexus, Volvo, Infiniti, Jaguar, Land Rover and Porsche amongst others.
- As of the first quarter of 2018, the market showed a consolidation in the used car and new car sales due to the introduction of VAT of 5% on 1st January 2018. Since then the dealerships have been offering discounts and offers in order to reduce the tax burden on the customers.
UAE used car market is expected to head towards consolidation as classified portals are gaining prominence as one stop solution for used car. The market size by transaction value is expected to grow at a faster rate as compared to volume sales and will be mainly driven by increased demand for super cars. Reducing average ownership age of used car is another key factor for higher price of used cars. Revival of the country's economy, improving quality of cars and increasing competition are some of the other expected tailwinds. A number of operational and marketing changes are expected to happen in the market as the companies are becoming more customers centric. Change in regulation, taxes, and improved transparency in making the car history accessible will help in gaining the confidence of customers and dealers.
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The sales in domestic market are expected to grow at high rate as compared to export sales between 2017 and 2022. In domestic sales, the B2B/B2C dealers will grow at higher pace and will also gain market share. The share of C2C word of mouth sales channel will shrink in future with market expected to become more organized. The domestic sales by region will grow at the fastest rate in Sharjah followed by Dubai and Abu Dhabi, while the demand in other emirates will almost remain constant.
The competition scenario is expected to intensify in the near future as the market gathers momentum and companies go for expansion, acquisition or partnership to promote their business. The dealerships are expanding their retail space as the aesthetics and decorum of the retail outlet is expected to become a significant factor.
Analysts at Ken Research in their latest publication "UAE Used Car and Auto Classified Market Outlook to 2022 - By Revenue Streams (Commission, Paid Listings, Banner Advertisement), By Export and Domestic Sales" believe that revamping of distribution system, exclusive used car dealerships, expansion of antique car segment will help the used car dealership to attract customers and acquisition, partnerships and mergers will help the companies to expand their business inorganically.
Keywords
- Average Price Used Car UAE
- Car Ownership Period Used Car UAE
- Pre-owned Car Industry UAE
- Inspection Used Car UAE
- Best Selling Used Car UAE
- Online Used Car Sales UAE
- Auto Paid Listing UAE
- Export Used Cars UAE
- Used Vehicle Domestic Sales UAE
- Dubai Used Car Market
- Sharjah Used Car Industry
- Preowned Car Market Abu Dhabi
- Used Car Market UAE
- Used Car Sales Volume UAE
- Used Car Dealers Revenue UAE
- Auto Classified Market UAE
- Sellanycar.com Revenue UAE
- Al Futtaim Revenue UAE
- B2B B2C Car Dealership Market UAE
- Trends Preowned Car UAE
- Growth Used Car Sales UAE
For more information on the research report, refer to below link:
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Companies Covered:
Used Car Dealerships:
- Sellanycar.com
- Al-Futtaim
- Arabian Automobiles
- Al Naboodah
- Elite Cars
- Al Tayar
- Carswitch.com
Classified Used Car Retailing Websites
- Carmudi
- Yalla Motors
- Dubizzle
Key Segments Covered
By Type of Regions
- Dubai
- Sharjah
- Abudhabi
- Umm Al Quwain
- Ras Al Khaimah
- Fujairah
- Ajman
By Sales Channel:
- B2B/B2C Dealers
- C2C Classifieds
By Type of Cars
- Crossover
- Luxury SUV
- Full Size Sedan
- Premium Sedan
- Luxury Sedan
- Full Size SUV
- Convertible
- Super Car
- Coupe
- Entry Level Sedan
- Hatchback
- Luxury Hatchback
- Pick-Up Trucks
Key Target Audience
- Used Cars Dealerships
- Classified Used Car Retailing Websites
- Used Car Buyers
- Used car Sellers
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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