United Arab Emirates (UAE) Used Car Market Overview, 2029

United Arab Emirates (UAE) Used Car Market Overview, 2029

The United Arab Emirates is a one-of-a-kind used automobile market, shaped by a mix of economic prosperity, diversified consumer tastes, and distinct cultural characteristics. The United Arab Emirates is well-known for its economic prosperity, which is mostly fueled by the oil and gas industries. The population's high average income levels and strong purchasing power contribute to a market in which buyers frequently have the wherewithal to invest in premium and luxury automobiles, even in the used car segment. One distinguishing element of the United Arab Emirates used automobile market is the high demand for luxury and high-end vehicles. Given the population's wealth, there is a preference for luxury car brands such as Mercedes-Benz, BMW, Audi, and others. As a result of this, the used car market in the United Arab Emirates often features a diverse array of high-end models. The United Arab Emirates has a big expatriate community, with people from all over the world living and working there. As a result of changes in work or residency status, expats in the United Arab Emirates desire to buy and sell vehicles more regularly. The United Arab Emirates has strict automotive rules and standards, including emissions and safety criteria. These laws help to create a market in which well-maintained and compliant second-hand vehicles are highly valued. Buyers frequently look for vehicles that match these criteria to ensure compliance with local laws and regulations. Given the penchant for luxury vehicles, the used car market in the UAE showcases models with advanced technological features and luxurious amenities. Buyers often seek vehicles with cutting-edge technology, entertainment systems, and premium interiors, contributing to a market where even used cars boast a range of sophisticated features.

According to the research report ""United Arab Emirates Used Car Market Overview, 2029,"" published by Bonafide Research, the United Arab Emirates Used Car market was valued more than USD 9 Billion in 2023. Used automobiles in the United Arab Emirates, particularly luxury models, frequently have higher resale prices than in many other markets. The desire for well-maintained and low-mileage vehicles contributes to the reasonably strong resale market. Buyers and sellers alike prefer automobiles with high resale value, making it a critical factor in used car transactions. The United Arab Emirates has a sizable expatriate community, with people from all over the world working and staying there. This dynamic demographic leads to a continually changing used automobile market, as expats frequently buy and sell vehicles owing to changes in work, residency status, or migration within the country. Certified pre-owned (CPO) programs for used cars are frequently offered by reputable dealerships in the United Arab Emirates. These programs include rigorous inspections, refurbishments, and supplementary warranties, giving consumer’s confidence in the vehicle's quality and condition. CPO programs help to instill confidence in the used automobile market. Dealerships and showrooms are important players in the used automobile market. Dealerships in the United Arab Emirates are well-known for their professionalism and dedication to quality. Showrooms frequently display a variety of used vehicles, including luxury models, and offer buyers a thorough buying experience that includes test drives and expert advice. The United Arab Emirates has witnessed the growth of online platforms and digital transactions in the used car market. Buyers appreciate the convenience of browsing through listings, comparing models, and completing transactions online. The digital shift aligns with the tech-savvy nature of the population and the desire for efficient and seamless buying experiences.

Based on vehicle type segment market is categorised into conventional, hybrid and electric. Electric type is expected to grow at fastest rate in United Arab Emirates used car market. The United Arab Emirates government has demonstrated its commitment to sustainability and lowering its carbon impact. Subsidies, tax breaks, and lower registration fees for electric cars (EVs) can encourage both new and used car purchasers to choose electric models. The creation of a reliable charging infrastructure is critical for the broad adoption of electric vehicles. If the United Arab Emirates invests in expanding and improving its charging network, potential electric car consumers in both the new and used car sectors may gain confidence. The United Arab Emirates has a sizable market for premium and luxury automobiles. The availability of high-end electric models from manufacturers such as Tesla and other luxury brands may entice consumers interested in sophisticated features and performance in electric vehicles. The body type segment of the market includes hatchbacks, sedan, SUV & MUV and others (Coupe & Convertible). SUV and MUV holds significant demand in United Arab Emirates used car market. SUVs and MUVs are noted for their greater size and solid construction, which appeals to United Arab Emirates buyers. The desire for comfort, visibility on the road, and a sense of security drives the demand for big and imposing automobiles. The United Arab Emirates includes a variety of landforms, including desert regions, hilly regions, and metropolitan areas. SUVs are well-suited to navigating varied terrains due to their increased ground clearance and four-wheel-drive capabilities. As of their adaptability, they are popular among inhabitants who enjoy off-road activities or simply admire the versatility of these vehicles.

The fuel type segment is divided into petrol, diesel, others (CNG, PNG, electric, etc.). Petrol fuel type is projected to lead the United Arab Emirates used car market. Petrol cars are typically less expensive to purchase than diesel or hybrid vehicles. The lower initial purchase price of gasoline cars can make them more accessible to a larger spectrum of consumers in the used car market. In general, gasoline engines have lower maintenance expenses than diesel engines. The simplicity of gasoline engines and the cheaper cost of gasoline fuel lead to lower maintenance costs during the life of the vehicle. This cost-effectiveness is appealing to consumers in the used automobile market. The price differential between petrol and diesel gasoline in the United Arab Emirates may not be as noticeable as in other markets. The cost per liter of gasoline is often competitive, reducing the economic advantage of diesel engines in terms of fuel efficiency. This fuel price parity can make gasoline cars more attractive to buyers. Based on distribution channel market is divided into offline and online. Online distribution channel is projected to grow at rapid pace in United Arab Emirates used car market. The United Arab Emirates has seen a tremendous digital transition, with a large majority of the population being tech-savvy and having internet access. Consumers, particularly the younger generation, are becoming more comfortable with using online platforms for a variety of transactions, including the purchase of used cars. For buyers looking to acquire used cars, online platforms provide unrivaled ease. Prospective buyers can search through a wide range of listings, compare pricing, and learn more about the vehicles without having to visit several dealerships. This feature of conserving time is especially tempting in today's fast-paced environment.


Considered in this report:
• Geography: United Arab Emirates
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report:
• United Arab Emirates Used Car market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Vehicle:
• Conventional
• Hybrid
• Electric

By Body Type:
• Hatchbacks
• Sedan
• SUV
• Others (Coupe & Convertible)

By Fuel Type:
• Petrol
• Diesel
• Others (CNG, LPG, electric, etc.)

By Vendor Type:
• Organised
• Unorganised

By Size:
• Mid-Size
• Compact
• SUVs

By Distribution Channel:
• Offline
• Online

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Used Car industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
The United Arab Emirates is a one-of-a-kind used automobile market, shaped by a mix of economic prosperity, diversified consumer tastes, and distinct cultural characteristics. The United Arab Emirates is well-known for its economic prosperity, which is mostly fueled by the oil and gas industries. The population's high average income levels and strong purchasing power contribute to a market in which buyers frequently have the wherewithal to invest in premium and luxury automobiles, even in the used car segment. One distinguishing element of the United Arab Emirates used automobile market is the high demand for luxury and high-end vehicles. Given the population's wealth, there is a preference for luxury car brands such as Mercedes-Benz, BMW, Audi, and others. As a result of this, the used car market in the United Arab Emirates often features a diverse array of high-end models. The United Arab Emirates has a big expatriate community, with people from all over the world living and working there. As a result of changes in work or residency status, expats in the United Arab Emirates desire to buy and sell vehicles more regularly. The United Arab Emirates has strict automotive rules and standards, including emissions and safety criteria. These laws help to create a market in which well-maintained and compliant second-hand vehicles are highly valued. Buyers frequently look for vehicles that match these criteria to ensure compliance with local laws and regulations. Given the penchant for luxury vehicles, the used car market in the UAE showcases models with advanced technological features and luxurious amenities. Buyers often seek vehicles with cutting-edge technology, entertainment systems, and premium interiors, contributing to a market where even used cars boast a range of sophisticated features. According to the research report "United Arab Emirates Used Car Market Overview, 2029," published by Bonafide Research, the United Arab Emirates Used Car market was valued more than USD 9 Billion in 2023. Used automobiles in the United Arab Emirates, particularly luxury models, frequently have higher resale prices than in many other markets. The desire for well-maintained and low-mileage vehicles contributes to the reasonably strong resale market. Buyers and sellers alike prefer automobiles with high resale value, making it a critical factor in used car transactions. The United Arab Emirates has a sizable expatriate community, with people from all over the world working and staying there. This dynamic demographic leads to a continually changing used automobile market, as expats frequently buy and sell vehicles owing to changes in work, residency status, or migration within the country. Certified pre-owned (CPO) programs for used cars are frequently offered by reputable dealerships in the United Arab Emirates. These programs include rigorous inspections, refurbishments, and supplementary warranties, giving consumer’s confidence in the vehicle's quality and condition. CPO programs help to instill confidence in the used automobile market. Dealerships and showrooms are important players in the used automobile market. Dealerships in the United Arab Emirates are well-known for their professionalism and dedication to quality. Showrooms frequently display a variety of used vehicles, including luxury models, and offer buyers a thorough buying experience that includes test drives and expert advice. The United Arab Emirates has witnessed the growth of online platforms and digital transactions in the used car market. Buyers appreciate the convenience of browsing through listings, comparing models, and completing transactions online. The digital shift aligns with the tech-savvy nature of the population and the desire for efficient and seamless buying experiences. Based on vehicle type segment market is categorised into conventional, hybrid and electric. Electric type is expected to grow at fastest rate in United Arab Emirates used car market. The United Arab Emirates government has demonstrated its commitment to sustainability and lowering its carbon impact. Subsidies, tax breaks, and lower registration fees for electric cars (EVs) can encourage both new and used car purchasers to choose electric models. The creation of a reliable charging infrastructure is critical for the broad adoption of electric vehicles. If the United Arab Emirates invests in expanding and improving its charging network, potential electric car consumers in both the new and used car sectors may gain confidence. The United Arab Emirates has a sizable market for premium and luxury automobiles. The availability of high-end electric models from manufacturers such as Tesla and other luxury brands may entice consumers interested in sophisticated features and performance in electric vehicles. The body type segment of the market includes hatchbacks, sedan, SUV & MUV and others (Coupe & Convertible). SUV and MUV holds significant demand in United Arab Emirates used car market. SUVs and MUVs are noted for their greater size and solid construction, which appeals to United Arab Emirates buyers. The desire for comfort, visibility on the road, and a sense of security drives the demand for big and imposing automobiles. The United Arab Emirates includes a variety of landforms, including desert regions, hilly regions, and metropolitan areas. SUVs are well-suited to navigating varied terrains due to their increased ground clearance and four-wheel-drive capabilities. As of their adaptability, they are popular among inhabitants who enjoy off-road activities or simply admire the versatility of these vehicles. The fuel type segment is divided into petrol, diesel, others (CNG, PNG, electric, etc.). Petrol fuel type is projected to lead the United Arab Emirates used car market. Petrol cars are typically less expensive to purchase than diesel or hybrid vehicles. The lower initial purchase price of gasoline cars can make them more accessible to a larger spectrum of consumers in the used car market. In general, gasoline engines have lower maintenance expenses than diesel engines. The simplicity of gasoline engines and the cheaper cost of gasoline fuel lead to lower maintenance costs during the life of the vehicle. This cost-effectiveness is appealing to consumers in the used automobile market. The price differential between petrol and diesel gasoline in the United Arab Emirates may not be as noticeable as in other markets. The cost per liter of gasoline is often competitive, reducing the economic advantage of diesel engines in terms of fuel efficiency. This fuel price parity can make gasoline cars more attractive to buyers. Based on distribution channel market is divided into offline and online. Online distribution channel is projected to grow at rapid pace in United Arab Emirates used car market. The United Arab Emirates has seen a tremendous digital transition, with a large majority of the population being tech-savvy and having internet access. Consumers, particularly the younger generation, are becoming more comfortable with using online platforms for a variety of transactions, including the purchase of used cars. For buyers looking to acquire used cars, online platforms provide unrivaled ease. Prospective buyers can search through a wide range of listings, compare pricing, and learn more about the vehicles without having to visit several dealerships. This feature of conserving time is especially tempting in today's fast-paced environment. Considered in this report: • Geography: United Arab Emirates • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report: • United Arab Emirates Used Car market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Vehicle: • Conventional • Hybrid • Electric By Body Type: • Hatchbacks • Sedan • SUV • Others (Coupe & Convertible) By Fuel Type: • Petrol • Diesel • Others (CNG, LPG, electric, etc.) By Vendor Type: • Organised • Unorganised By Size: • Mid-Size • Compact • SUVs By Distribution Channel: • Offline • Online The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Used Car industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.