Lower price of used car and cheap fuel price in the country to drive the demand for UAE used car market for the forecast period.
According to TechSci Research report, “UAE Used Car Market - By Region, By Company Forecast & Opportunities, 2026”, UAE used car market was valued at over USD9590 million in 2020 and is forecast to grow at a CAGR of 13% to reach USD20630 million by 2026. Increasing average age of vehicles and lower prices of used cars are propelling the growth of the market. Companies like Copart Inc., Dubizzle Motors LLC, Al-Futtaim Group, etc., have launched digital platforms for buying and selling used cars as well as provide servicing and warranty facilities along with easy, instant and paperless loan experience to their customers. This enables the potential buyers to simply enquire about their required car over the website in a few clicks, post which the dealer can check the buyer’s eligibility and generate transactions with minimum hustle. The online platform also allows the users to browse through multiple car models and compare different parameters like age of the car, price, color, etc., before arriving at a purchase decision.
Another factor for the increasing demand for used cars is its growing demand from shared mobility companies. One of the major drivers for the UAE used car market is the rising demand for second-hand cars from shared mobility companies. Shared mobility services like ride-hailing, ride-sharing, car sharing, car rental, etc., are becoming increasingly popular among the UAE citizens as well as the tourist population because of the inherent convenience it provides. This makes it essential for fleet owners to develop a comprehensive fleet of cars for shared mobility purposes to meet user demand. In doing so, most of these fleet owners opt for second-hand cars instead of purchasing new cars as they are comparatively low priced. Thus, the growth of shared mobility services in the UAE is projected to significantly propel the market demand for used cars through the forecast period.
Browse 26 market Figures and 1 table spread through 106 Pages and an in-depth TOC on "UAE Used Car Market”.
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UAE used car market is segmented into vehicle, end use, region, and company. Based on vehicle type, market can be divided into small cars, mid cars & luxury cars. The luxury car segment accounted for a market share of 28.64%, in volume terms, in 2020. Luxury cars comprise high-end sedans and high-profile sports utility vehicles (SUVs). High-end sedans are anticipated to aid the growth of the country’s used passenger car market over the course of the next five years due to higher status symbol, comfort, more passenger-carrying capacity, and easier finance options available. Moreover, the segment is also expected to hold a significant share in terms of value as these cars are much highly priced.
Leading players operating in the UAE used car market include:
- CarSwitch DMCC
- Abdul Latif Jameel IPR Company Limited
- SellAnyCar.com
- YallaMotor.com
- Al-Futtaim Group
- Global Cars Trading FZ LLC
- Dubicars International FZ-LLC
- Copart Inc.
- Dubizzle Motors LLC
- Sun City Motors LLC
Al-Futtaim Group is the leading player in the UAE used car market accounting for a market share of 10.45% in 2020 in terms of total used cars sold. The company has a robust portfolio of used cars including major automobile brands like Toyota, Nissan, Hyundai, Mitsubishi, Renault, Lexus, Mazda, Honda, etc. The company also has a strong dealer/distributor network ranging across various regions in the country, which further allows it to enjoy competitive edge over other companies.
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“Dubai works as a gateway for used car market in the UAE. In 2020, the region accounted for a major share of 47.14% in terms of units sold. Majority of the used car market in the UAE is import driven. Since the region has best-in-class port facilities like the Jebel Ali, Port Rashid and Al Hamriya, it is able to maintain efficient supply chain relationship with the world for the import of used passenger cars in the UAE. Moreover, the increasing operations of shared mobility companies like Uber Technologies, Inc., Didi Chuxing Technology Co., Lyft, Inc., Ekar, etc. have generated higher demand for used cars in the country, as they offer cost benefits to the fleet owners.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“UAE Used Car Market By Vehicle (Small Cars, Mid Car, Luxury Cars), By Fuel (Petrol/Gasoline, Diesel, Others), By End Use (Institutional, Individual), By Region (Dubai, Abu Dhabi, Sharjah, Rest of UAE), Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of UAE used car market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of UAE used car market.
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