The UAE certified pre-owned car market is expected to exhibit a CAGR of 9% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Certified pre-owned cars refer to second-hand vehicles that are thoroughly inspected and tested by the automobile dealer to ensure specific standards of quality before being sold. These vehicles have been repaired to exceed the constraints of used vehicles. Some of the common varieties of certified pre-owned cars include hatchback, sedan, SUVs, etc. These cars are widely available for resale across traditional franchise and independent car stores, auctions, rental car companies, leasing offices, private party sales, etc. Certified pre-owned cars offer cost-efficient solutions while minimizing the depreciation of the vehicle, thereby gaining a widespread prominence among the masses. Besides this, these cars also offer numerous benefits to the users, including extended warranty protection, low-interest financing, free maintenance, roadside assistance, etc.
UAE Certified Pre-Owned Car Market Trends:
The growing consumer inclination towards owning multiple vehicles for improved mobility, convenience, and luxury is primarily driving the growth of the UAE certified pre-owned car market. Moreover, the increasing popularity of certified pre-owned vehicles for shared services, such as ride-sharing, ride-hailing, car rental, etc., among UAE citizens as well as tourists due to their affordability is also propelling the market growth. Apart from this, the lower prices of certified pre-owned cars and numerous value-added services, such as long-term warranty, pre-installed accessories, easy maintenance, etc., offered by car dealers are further stimulating the product demand. Additionally, the increasing environmental consciousness and elevating focus on sustainable development are catalyzing the adoption of refurbished cars to reduce waste disposal and control carbon emissions, thereby augmenting the market growth in the UAE. Besides this, several pre-owned car retailers are adopting online platforms for digitalizing their operations to offer complete transparency to their users and reach out to a larger customer base. This is acting as a significant growth-inducing factor. Furthermore, the inflating number of expatriates in the region who prefer affordable private transportation rather than investing in a new car for a long-term commitment is also bolstering the market growth. Besides this, continuous advancements, including the integration of blockchain technologies to store and preserve the maintenance history record of pre-owned cars, are expected to drive the UAE certified pre-owned car market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the UAE certified pre-owned car market report, along with forecasts at the country and emirates level from 2022-2027. Our report has categorized the market based on car type, car age, fuel type, vendor type and distribution channel.
Breakup by Car Type:
- Sports Utility Vehicle
Breakup by Car Age:
- 0-4 Years
- 4-8 Years
- More than 8 Years
Breakup by Fuel Type:
Breakup by Vendor Type:
Breakup by Distribution Channel:
Breakup by Emirates:
- Abu Dhabi
The competitive landscape of the industry has also been examined along with the profiles of the key players- AlbaCars, Al-Futtaim, Al Naboodah Group (Saeed & Mohammed Al Naboodah Holding LLC), AL Tayer Group, AW Rostamani Group, Car Switch Dubai, Dubicars International FZ-LLC, Dubizzle Middle East FZ-LLC and The Elite Car.
|Base Year of the Analysis
| Historical Period
||Car Type, Car Age, Fuel Type, Vendor Type, Distribution Channel, Emirates
||Abu Dhabi, Dubai, Sharjah, Ajman
||AlbaCars, Al-Futtaim, Al Naboodah Group (Saeed & Mohammed Al Naboodah Holding LLC), AL Tayer Group, AW Rostamani Group, Car Switch Dubai, Dubicars International FZ-LLC, Dubizzle Middle East FZ-LLC and The Elite Car.
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Key Questions Answered in This Report:
- How has the UAE certified pre-owned car market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the UAE certified pre-owned car market?
- What are the key regional markets?
- What is the breakup of the market based on the car type?
- What is the breakup of the market based on the car age?
- What is the breakup of the market based on the fuel type?
- What is the breakup of the market based on the vendor type?
- What is the breakup of the market based on the distribution channel?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the UAE certified pre-owned car market and who are the key players?
- What is the degree of competition in the industry?