UAE Certified Pre-Owned Car Market Overview:
The UAE certified pre-owned car market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. Certified pre-owned cars refer to second-hand vehicles or used cars that undergo a thorough inspection and testing by the automobile dealer before selling. They are repaired to exceed the constraints of used cars and ensure specific standards of quality. These vehicles can be purchased in various places, including traditional franchise and independent car dealerships, auctions, rental car agencies, leasing offices, and private party sales. Some commonly available certified pre-owned cars include sedans, SUVs, and hatchbacks. These vehicles provide numerous benefits to their owners, such as low-interest financing, extended warranty protection, free maintenance, and roadside assistance. Since they offer cost-effective ways to reduce vehicle depreciation, certified pre-owned cars are gaining immense traction across the UAE.
The UAE certified pre-owned car market is primarily driven by the shifting consumer preferences toward owning multiple vehicles for improved mobility, convenience, and luxury. Moreover, the lower certified pre-owned car prices and several value-added services provided by car dealers, such as long-term warranties, pre-installed accessories, and easy maintenance, have augmented the product demand. Additionally, the rising popularity of certified pre-owned vehicles for shared services, such as ride-hailing, ridesharing, and car rental, due to their affordability among UAE citizens and tourists is positively influencing the market growth. Besides this, the surging adoption of refurbished cars to reduce waste disposal and control carbon emissions owing to rising environmental consciousness and elevating focus on sustainable development is another major growth-inducing factor. Besides this, the expanding population of expatriates in the country who prefer affordable private transportation over purchasing a new vehicle for a long-term commitment has catalyzed market growth. Furthermore, numerous technological advancements, including the integration of blockchain technology to preserve and maintain the service history records of pre-owned cars, are contributing to market growth. Other factors, including the easy availability of used car financing and loans, inflating consumer purchasing power, and active online sales of used cars, are also anticipated to drive the market further.
Beginning with a regional overview, the report explores the dynamics that have a strong influence on the UAE certified pre-owned car market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry.
The report analyses the competitive structure of the UAE certified pre-owned car market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the UAE certified pre-owned car market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the UAE certified pre-owned car market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the UAE certified pre-owned car market industry. Furthermore, the value chain analysis of the UAE certified pre-owned car market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution.
UAE Certified Pre-Owned Car Market Segment Insights:
The UAE certified pre-owned car market has been analysed as followed:
By Car Type:
By Car Age:
By Fuel Type:
By Vendor Type:
By Distribution Channel
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.
Highlights of the UAE Certified Pre-Owned Car Market Report:
The UAE certified pre-owned car market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs
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