In the terms of sales volume, the Middle East Used
Vehicles Industry has augmented at a
double digit CAGR during the forecasted period. The entire industry is
gradually increasing with the great car ownership ratio, increasing urban
population, effective augment in the average ticket size, speedy vehicle
replacement rate and growing support of the respective region of Middle East in
the terms of policy construction and regulations. Moreover, the buyers in the
Middle East region are greatly price sensitive with disparaging currency over
the years. The regulatory authority norms with respect to EEVs and ELV policy
will positively impact the Middle East Used
Vehicle Market across the region.
Not only has this, the requirement
enlarged predominantly due to the growth in the number of HNI’s & per
capita disposable income. Furthermore, the move in the mindset of the domestic
citizenry for supporting used cars over the fresh and innovative cars also
smoothed the movement. The organized premium pre owned car market across the
Middle East is a micro sector that observe cut throat competition amongst the
certified dealers and large semi-organized players. The cost of the cars
promoted through such dealers is greater due to the several value added
services suggested alongside. The Online websites effectively underwrite more
than 80% in the lead generation for the sales made by the organized segment.
Advanced marketing ingenuities namely
augmented existence and regular investigations to measure the customer
discernment to schedule their strategies have positively impacted the market.
These are attained by organizing events inviting present and prospective
consumers and gathering their response over the course of the activities and
appointments. As the luxury car market gets more worthwhile, several other
foreign players are predicted to welcome the market.
According to the research, in the Middle East Used
Vehicle Market, there are
numerous key players which presently functioning more positively for leading
the fastest market growth and influencing the high value of market share during
the short span of time more enormously while developing the technologies of
used cars, advancing the strategies of working, discounting the product,
offering the effective services and delivering the better consumer
satisfaction.
Not only has this, the large players
in the Middle East Used
Vehicle Market are positing
acquiring the small enterprises, implementing the strategies of joint ventures,
partnerships, mergers and acquisitions, spreading the awareness related to the
applications and benefits of the used cars, establishing the e-commerce
platform which further benefited for functioning across the globe and
generating the high value of revenue.
The dealers in the Middle East Used Vehicle
Cars compete based on the
number of dealership outlets, quality checks performed, value added services,
insurance and finances and portfolio of the used cars at their dealership
accumulation. In future, it is predicted that used car sales volume will be
fostered by growing legal authority policies regarding to the used cars,
increasing urban population, growing the rate of car replacement, effective
rise in the inspection checks and increasing the consumer confidence.
Therefore, in the coming years, it is projected that the market of used vehicle
will increase more significantly over the near future across the Middle East.
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Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-9015378249