Showing posts with label UAE Used Car Market Analysis. Show all posts
Showing posts with label UAE Used Car Market Analysis. Show all posts

Thursday, November 25, 2021

UAE Used Car and Auto Classified Market Size and Research 2021, CAGR Status, Growth Analysis by Countries, Development Factors, Business Updates and Strategies till 2027: Ken Research

UAE Used Car and Auto Classified Market Outlook to 2025 ( Second Edition ) - Driven by Growing Expat population and increased Awareness on health and hygiene due to covid-19.

UAE used car market revenue stood at AED ~XX Billion in CY’20 and recorded a CAGR of XX% during CY’15-CY’20. The market is fragmented with various players operating in the used car sales channel specifically dealership networks, online marketplace player, and classified platforms. As of 2020, there are more than XX number of dealers in the market and approximately ~XX number of online portals dealing in used cars.

Consumers increasing awareness on health and hygiene due to the onset of COVID-19 has led to the surge in the demand of used cars as they are preferring to avail private transportation medium rather than public transport system. Weaker economic sentiment as a result of COVID-19, initially impacted the market due to supply chain disruption, however it has also fueled the growth prospect of the market as the preference of consumers is shifting towards purchasing affordable pre-owned vehicles rather than spending hefty sums on new cars.

Large number of expatriate population in UAE coupled with shifting preference towards private vehicle ownership would act as major growth drivers for the used car market in coming years. Along with that export prospect of used cars from this region will contribute to the optimistic growth outlook for the market in future.

Competitor’s in UAE Used Car Market competes on various parameters such as price, presence of digital platform, value added services such as warranty & financing options, brand awareness, retail space, and sourcing of cars among others.

Major dealership network present in UAE used car market realm are Al-Naboodah, Arabian Automobiles and Al-Tayer Motors among others. Online marketplace player includes Al-Futtaim, Cars24, Alba Trading etc. On the other hand classified companies include Dubizzle, Dubicars, Yalla Motor and Carmudi among others.

By Type of Car, 2020

The UAE used car market can be segmented on the basis of type of car that consumers prefer. It has been estimated that SUV remains the top choice of customers as of CY’20. Market share, average ticket size and sales volume has been estimated for each segment.

By Type of Manufacturer, 2020

In the used car segment in UAE, Japanese, German, Korean, and American manufactured cars are the most popular among customers. Variety of determinants such as resale value, affordability and condition of the car among others plays a pivotal role in customer’s perception towards these brands.

The report also presents an insight on major automobile companies with sold used cars brand in UAE. Toyota, Lexus and Nissan remains the top used car brand choice among customers.

By Region, 2020

The UAE used car market is further classified on the basis of sales volume in different regions. Used car sales in Dubai has been historically among the highest in comparison to other regions of UAE.

By Sales Chanel on the basis of Sales Volume and Transaction Value, 2020

In recent times as the ecosystem is getting more organized with the integration of number of players, online marketplace and dealership platforms became the major platforms for the sales of used cars rather than conventionally dominant sale of used cars through car repair shops and garages. As of CY’20 it is estimated that online marketplace players contribute up to XX% of the overall sales of used cars in UAE.  This is due to their multi-brand option approach which helps the customer in choosing from a wide range of used car brands rather than specific sales of brands which is offered by a dealership platforms.

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Export and Re-Export of Used and New Cars by Value, 2015-2020

With respect to used cars, the re-export and export are primarily carried out to the Middle East, Africa, Latin American and South East Asia. Majority of the dealers export only left-hand drive used vehicles as UAE has strict laws against steering wheel modifications. This essentially leaves out the Indian sub-continent from the market.

Export industry of used cars in UAE is not a significant as the import and re-export due to the lack of indigenous manufacturers. The size of the export industry of stands at XX billion AED in 2015. This number has grown over the last five years, reaching a value of XX billion AED in 2020.

The total value of re-export of used cars increased from XX billion AED in 2015 to XX billion AED in 2018. However, the value of re-export has decreased in the subsequent years to XX billion AED in 2020. The impact of COVID-19 affected the trading sector as well, which is reflected by the XX% drop in 2020 numbers.

The UAE used car market is fragmented with multiple players operating in the ecosystem, thereby, making the market share of these players well segregated. Dealers, online marketplace and classified platforms are the major sales channel available for a consumer willing to buy a pre-owned vehicle in UAE. These players compete on the basis of price offered, digital presence and value-added services among others. As of CY’20, there are more than XX dealership operating in the ecosystem and ~XX number of online portals dealing in used cars.

The players in the used car market compete on the basis of price, value added services, digital presence, technical know-how, brand awareness, retail space, demographic diversification and sourcing of cars.

For More Information, refer to below link:-

UAE Used Car and Auto Classified Market Growth

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Malaysia Used Car Market Outlook to 2025 (Second edition) – Growth of Online Used Car Platforms and increased shift from using public transport to personal cars, fueled by Covid-19

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

Tuesday, October 12, 2021

UAE Used Car and Auto Classified Market Size 2021 COVID-19 Impact Analysis by Business Opportunities, Applications, Growth Drivers, and Future Outlook till 2025: Ken Research

The report titled UAE Used Car and Auto Classified Market Outlook to 2025 (Second Edition) - Driven by Growing Expat population and increased Awareness on health and hygiene due to covid-19. provides a comprehensive analysis on the status of used car industry in UAE. The report covers various aspects including volume of used cars & market size, export & re-export of used and new cars by transaction value & by country, trends & developments, growth drivers, issues & challenges faced by the industry, government regulations, challenges & restraints, SWOT analysis, Porter 5 forces analysis, recent developments and other aspects. Further, the report focuses on the UAE Used Car Market Segmentation by Type of Car (SUV/Crossover, Sedan, Coupe, Hatchback, Pickup Truck, Sports Car, Convertible, and Others), by Manufacturers on the basis of Region (Japanese, German, American, Korean, British, and Others), by Region (Dubai, Sharjah, Abu Dhabi, Umm Al Quwain, Fujairah, Ras Al Khaimah, and Ajman), and by Sales Channel (B2B/B2C Dealership, Online Marketplace including Classified Platforms and C2C-Word of Mouth by sales volume and transaction value). UAE Used Car Industry report concludes with projections for the future of the industry including forecasted sales revenue and volume by 2025, Covid-19 impact, and analysts’ take on the future and directory of automobile dealers in luxury segment in UAE.

UAE Used Car Market Overview and Size

UAE is one of the biggest automobile markets in the industry. The market of used cars has grown at very fast pace in the last few years. The market size by value has registered a five-year CAGR of xx% (2015-2020) as the total value of sales increased from AED xx Billion in 2015 to AED xx Billion in 2020. The market size by volume increased from xx cars in 2015 to xx cars in 2020 while registering a five-year CAGR of xx% in the period. The market had initially slowed down in between 2015 and 2017 due to fall in export value of crude oil in 2015 oil which adversely impacted the purchasing power of consumers. However, since 2017 the market had witnessed tremendous growth. There are a number of growth drivers which has resulted in expansion of the market; these include improving quality of used cars and large number of expatriates among other determinants. There have been a number of regulatory changes that have impacted the market such as the imposition of VAT of 5% for sales of used as well as new cars in 2018. There are a number of challenges that exist for the market such as price discrepancies, lack of standardization and others. Customers of the used cars can be divided according to their needs. The passion for cars in the country is one of the biggest reasons that more and more players are entering the market. Further, the used car market can be segmented on the basis of import, export and re-export of used car sales based on brands and countries. In recent times manufactured certified cars are gaining foothold in the market as they provide reliable quality of cars.

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UAE Used Car Market Segmentation

By Domestic Sales by Market Structure: the domestic used car market of UAE has been segmented on the basis of channels of distribution. The channels of distribution are B2B/B2C dealerships, online marketplace platforms including classifieds and C2C (word of mouth). Online marketplace platform including classified sales have an outright market share of xx% followed by xx% market share for dealership and the rest xx% is with C2C channel in 2020.

By Domestic Sale by Type of Car: Among this segment SUV/crossover used cars are the market leaders with ~xx% of the market share in 2020 followed by sedan, coupe, hatchback, pickup truck, sports car and convertible. SUV are one of the most common types of cars that are sold in the market.

By Domestic Sale by Type of Manufacturer: The Japanese manufactured used cars enjoy the market leadership with xx% of the total market by volume in 2020. It is followed by German manufactured cars with xx% of market share and American manufactured cars with market share of xx% of the total market as of 2020. The domestic sale of used car is segmented into Japanese, German, American, Korean, British, and others.

By Domestic Sale by Region: The country is divided into seven emirates (Dubai, Sharjah, Abu Dhabi, Umm Al Quwain, Ras Al Khaimah, Fujairah and Ajman). Dubai has the highest market share by volume of used cars accounting for xx%, followed by Sharjah with xx% of the overall market, and Abu Dhabi with xx% market share in 2020.

Competitive Landscape in UAE Used Car Market

The competition in the market is highly fragmented with no single player accounting for majority market share in UAE. There are three sales channels used by the players i.e., dealerships, classifieds and online marketplace platforms. Most of the online marketplace players operates via both online medium as well as through physical retail outlets such as Al-Futtaim Automall. There are more than 400 dealerships in the market with Al- Naboodah, Al-Tayer and Arabian Automobiles as some of the biggest players in the market. Classified platforms have grown in number and currently there are more than 40 online portals in the market. Dubizzle, Dubi Cars, Carmudi and Yalla Motors are some of the biggest online players in the market. Dubizzle is the market leader with xx% of the market share under the segment of classified platform in UAE. The companies compete with each other on the basis of prices; value added service, brand reputation, digital presence and others. Many companies are trying to attract the customers through sales promotion. The cars dealers generate revenue by buying a car at low price, refurbishing the car and selling the car at markup prices. The competitive scenario is expected to intensify in the near future as the market gathers momentum. The dealerships are expanding their retail space as the aesthetics and decorum of the retail outlet are few parameters which the dealerships are expected to use to differentiate themselves from the competitors. Moreover, the advent of COVID-19 has enabled the customers in adapting to the digital medium wherein these individuals are better suited to make purchasing and selling decision through online mode. Therefore, used car sales through online marketplace and classified platforms are expected to record massive growth in coming years. For gaining advantage in this domain, these players are offering services such as doorstep delivery, inspection of cars at home etc., which is better suited to the customers as there is resistance in travelling to a retail outlet as it is time consuming and fear of contracting COVID-19. Cars24, a leading online marketplace player in India have expanded their business in UAE since April 2021 to capture the increasing demand of used cars in UAE thereby, generating massive revenue in the upcoming years.

UAE Used Car Market Future Outlook and Projections

The market size by value is expected to grow at a five-year CAGR of xx% increasing from AED xx billion in 2020 to AED xx billion in 2015. The market size by volume is expected to grow at a five-year CAGR of xx% from 2020 to 2025 increasing from xx cars sold in 2020 to xx in 2025. Revival of the country’s economy followed by the aftermath of COVID-19, adaptation of digital medium, increasing demand of private ownership, increased awareness on health and hygiene due to the onset of COVID-19 resulting in increasing demand of private transportation medium, increasing competition are some of the factors which will help the market to grow in the future. A number of operational and marketing changes are expected to happen in the market as the companies are becoming more and more customer centric. The market size by sales volume of online marketplace platform including classified players will surge at a 5-year CAGR of xx% from 2020 to 2025. On the other hand, the market size by sales volume via C2C (word of mouth) channel will shrink at a five-year CAGR of -xx% in the same period. 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.

Key Segments Covered in UAE Used Car Market

  • Used and New Cars Re-Export by Country
  • UAE Free Zone
  • Saudi Arabia
  • Iraq
  • China
  • Oman
  • Used and New Cars Export by Country
  • UAE Free Zone
  • Mali
  • Sudan
  • Somalia
  • Congo
  • By Type of Car
  • SUV/Crossover
  • Sedan
  • Coupe
  • Hatchback
  • Pickup Truck
  • Sports Car
  • Convertible
  • Other (Utility Truck, Van, Wagon etc.)
  • By Type of Manufacturer on the basis of Region
  • Japanese
  • German
  • American
  • Korean
  • British
  • By Region
  • Dubai
  • Sharjah
  • Abu Dhabi
  • Umm Al Quwain
  • Ras Al Khaimah
  • Fujairah
  • Ajman
  • By Sales Channel
  • Online Marketplace Players including Classified Channel
  • B2B/B2C Dealers
  • C2C – (Word of Mouth)

Key Target Audience

  • Used Car Dealerships
  • Classified Used Car Retailing Websites
  • Online Marketplace Websites dealing in Used Car
  • Auction Players
  • Used Car Financing Companies
  • Government Bodies
  • Investors and Venture Capital Firms
  • Used Car Associations
  • Used Car Buyers
  • Used Car Sellers

Time Period Captured in the Report:

  • Historical Period: 2015-2020
  • Forecast Period: 2020-2025

Used Car Companies in UAE:

  • Dealerships
  • Al-Naboodah Automobiles
  • Arabian Automobiles
  • Al-Tayer Motors LLC
  • Al-Ghandi Auto Group
  • Online Marketplace Players
  • Al-Futtaim Automall
  • Gargash Motors and General Trading LLC
  • Alba Trading FZC
  • Cars24
  • The Elite Cars
  • Swaidan Motors
  • Galdari Pre Owned
  • Autotrust
  • SellAnyCar
  • Car Switch
  • Classified Companies
  • Dubizzle
  • Yalla Motor
  • Dubicars
  • Carmudi

Key Topics Covered in the Report

  • Value Chain Analysis of UAE Used Car Market
  • UAE Used Car Market Ecosystem
  • Customer Profile of UAE Used Car Market
  • UAE Used Car Market Size, 2015-2020
  • UAE Used Car Market Research Report
  • UAE Used Car Market Size by Transaction Value and by Sales Volume, 2015-2020
  • UAE Used and New Cars Re-Export by Value and by Country, 2015-2020
  • UAE Used and New Cars Export by Value and by Country, 2015-2020
  • UAE Used Car Market Segmentation, 2020
  • Competitive Landscape of UAE Used Car Market, 2020
  • Parameters of Competition of UAE Used Car Market
  • Market Share of UAE Used Car Market Players – (Dealership Network, Online Marketplace Players and Classified Companies)
  • Company Profiles of Arabian Automobiles, Al-Naboodah, Al-Tayer Group, Dubizzle, Yalla Motor, DubiCars, Carmudi, Al-Futtaim Automall, Elite Cars, SellAnyCar, and Car Switch
  • Trends and Developments in UAE Used Car Market
  • Growth Drivers of UAE Used Car Market
  • Challenges and Restraints in UAE Used Car Market
  • SWOT Analysis of UAE Used of Market
  • Porter 5 Forces Analysis of UAE Used Car Market
  • Government Regulations in UAE Used Car Market
  • Recent Developments in UAE Used Car Market
  • Channels Used for Selling Pre-Owned Cars in UAE – (Dealerships, Classifieds and Online Marketplace)
  • Impact of COVID-19 on UAE Used Car Market
  • UAE Used Car Market Future Outlook and Projections, 2020-2025E
  • Analyst Recommendations
  • Macro-Economic Factors Affecting Used Car Market in UAE
  • Directory of Automotive Dealers in Luxury Segment in UAE

Related Reports

The UAE Car Rental, Leasing, And Limousine Market Outlook to 2025 (Second Edition) – Driven By Reviving Tourism, Altered Customer Preference from Public Transport to Personal Cars Owing to COVID-19

Future Potential Market of LEVs in Last Mile Delivery Industry in KSA – Favorable Government Policies and Better Charging Infrastructure Availability to drive the LEV Sales in KSA Market

Malaysia Used Car Market Outlook to 2025 (Second edition) – Growth of Online Used Car Platforms and increased shift from using public transport to personal cars, fueled by Covid-19 to accelerate Industry's Growth

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249