UAE USED CAR MARKET

INTRODUCTION

Used cars, usually referred to as pre-owned or second-hand cars, are automobiles that have been sold at least once before. For those wishing to acquire an automobile at a lesser price than buying a brand-new car, these cars provide an alternate choice.

The used automobile market is a sizable sector of the automotive industry, offering a variety of options to fit various preferences and budgets.

People prefer to purchase pre-owned vehicles for a variety of reasons. Cost savings is one of the main benefits. Used automobiles typically cost less than new cars, enabling consumers to choose a car that matches their budget.

Additionally, secondhand automobiles frequently have reduced registration and insurance costs, which further lowers the whole cost.

Further lowering the overall cost of ownership are the frequently reduced insurance and registration payments associated with secondhand automobiles.

The availability of a large selection is another advantage of purchasing a used automobile. The selection of manufacturers, models, and years available on the used automobile market enable purchasers to locate a car that precisely fits their needs. The used automobile market offers a wide range of alternatives, including compact cars, SUVs, luxury sedans, and pickup trucks.

In comparison to brand-new automobiles, used cars often depreciate more slowly. Used automobiles have already experienced this first depreciation, but new cars endure a large loss in value over the first few years of ownership. 

To know more about Saudi Arabia Used Car Market, read our report

UAE USED CAR MARKETSIZE AND FORECAST

TheUAE Used car marketaccounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

UAE USED CAR MARKET NEW PRODUCT LAUNCH

The Chinese carmaker Changa said on Monday that it will introduce the "Qi yuan" electric vehicle brand this year This action will set it apart from other brands in the same family, including the higher-end Avtar, which was developed in collaboration with Huawei and CATL, and Deepali, which caters to younger Chinese consumers and has a price range of RMB 150,000 to RMB 250,000.

Changa Chairman Zhu Huarong acknowledged that the state-owned company has plans to co-develop new EV cars with Ford, which are planned to go on sale next year, during an earnings conference with investors..

UAE USED CAR MARKET COMPANY PROFILE

• HONDA ACCORD
• LEXUS ES
• MAZDA 3.
• AUDI R8
• CHEVROLET MALIBU
• DODGE CHALLENGER

THIS UAE USED CAR MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many Used car are manufactured per annum globally? Who are the sub-component suppliers in different regions?
2. Cost breakup of a Global Used car and key vendor selection criteria
3. Where is the Used car manufactured? What is the average margin per unit?
4. Market share of Global Used car market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Global Used car in-house
6. key predictions for next 5 years in Global Used car market
7. Average B-2-B Used car  market price in all segments
8. Latest trends in Used car market, by every market segment
9. The market size (both volume and value) of the Used car market in 2024-2030 and every year in between?
10. Production breakup of Used car market, by suppliers and their OEM relationship.