Le Lézard
Classified in: Transportation
Subject: MRR

UAE Used Car Market Opportunities Report 2022: Refurbishment Service for Meeting Used Car Demand & Used Cars for Providing Mobility as a Service

DUBLIN, May 27, 2022 /PRNewswire/ -- The "UAE Used Car Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

Research and Markets Logo

The UAE's used car market experienced unprecedented growth in 2021

On the one hand, the global shortage of microchips impacted new car supply, boosting the demand for used cars, on the other hand, the recovery of market sentiment in the UAE and EXPO 2020 Dubai (postponed to 2021) boosted the Vehicle Miles Traveled (VMT) in the country. As a result, the used car market in 2021 in the UAE was a seller's market, with a major challenge being sourcing used cars.

The increased demand has driven up the residual value. Popular models depreciated much lesser in 2021 compared to 2019. The average price per vehicle also went up by almost 10% compared to pre-pandemic levels in 2019.

Car owners in the UAE were incentivized to sell their vehicles at a good value. With market growth, the industry has also witnessed many innovations in customer experience and business models. In general, a few market pioneers have led the way by increasing service standards and aftersales assurance to improve customer confidence in used cars.

Most sellers have adopted digitalization in car listing. Meanwhile, franchised dealers and major independent dealers have immensely taken to online payment and financing. Other value-added services, such as standard inspection and warranty service, have saved customers time for due diligence. In general, the process and time spent on purchasing a used car in the UAE have shortened, and the ease of making a purchase has improved.

In the post-pandemic era, the UAE's used market is expected to grow at a CAGR of 8.3% from 2021 to 2025. More than 1 million used cars are expected to be sold by 2025, driven by the competitive growth of franchised dealers Certified Pre-owned (CPO), and organized independent dealers.

Key Topics Covered:

1. The Strategic Imperative

2. Growth Opportunity Analysis

3. Revenue Share Analysis

4. Key Used Car Segment Analysis - Clusters Analysis

5. Key Used Car Segment Analysis - eRetailing in Used Cars

6. Key Used Car Segment Analysis - Warranty Practice in Used Car

7. Growth Opportunity Analysis, Franchised Dealer CPO

8. Growth Opportunity Analysis, Independent Dealers

9. Growth Opportunity Analysis, Customer to Customer

10. Growth Opportunity Analysis, Used Car Export

11. Growth Opportunity Universe

For more information about this report visit https://www.researchandmarkets.com/r/r9di83

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

These press releases may also interest you

at 08:00
Global Crossing Airlines Group Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) (the "Company" or "GlobalX") is pleased to announce the signing of an ACMI wet lease agreement to operate two (2) Airbus A320 aircraft (the "Aircraft") for TUI Airlines...

at 08:00
CN announced today plans to invest approximately C$40 million in New Brunswick in 2022. This includes investments in technology, rolling stock units and company-wide decarbonization initiatives, as well as network improvements. These investments...

at 08:00
CN announced today plans to invest approximately C$185 million in Saskatchewan in 2022. This includes investments in technology, capacity, rolling stock units and company-wide decarbonization initiatives as well as network improvements. These...

at 08:00
CYMOTIVE Technologies, the leading provider of smart mobility cyber solutions, today announced that the leading vehicle manufacturer in Turkey, Ford Otosan (Ford Otomotiv Sanayi A.?.) has selected CYMOTIVE to support its cybersecurity compliance...

at 08:00
Jiuzi Holdings, Inc. , a leading new energy vehicle (NEV) dealership group under the brand name "Jiuzi" in China, today announced that its operating entity, Hangzhou Zhitongche Technology Limited ("Zhitongche"), has entered into a Letter of Intent...

at 08:00
The National Safety Council estimates 462 people may lose their lives on U.S. roads during Independence Day weekend in preventable crashes. According to newly released estimates from the National Highway Traffic Safety Administration, U.S. roads are...

News published on 27 may 2022 at 12:15 and distributed by: