When is the ideal time to purchase used cars in the United Arab Emirates at a discount of more than fifteen percent?
Used automobile costs in the UAE are falling; will they continue to fall in 2024?
During the holy month of Ramadan, when auto dealers often offer big discounts and marketing campaigns, industry participants anticipate a surge in sales.
As a result of an increase in the number of new cars being delivered to the market and the entry of new players, particularly from China, the prices of pre-owned automobiles in the United Arab Emirates (UAE) dropped by over 15 percent the previous year.
Used car prices in the UAE are falling a lot 2024.
The cost of used automobiles in the United Arab Emirates is decreasing significantly in 2024.
According to Glenn Harwood, co-founder of AlgoDriven, it is anticipated that the UAE market will witness an additional 15 percent drop in used car costs over the course of 2024. This is because the number of new automobile options is growing, and as a result, consumers are receiving discounts. In spite of this, he said that the market should continue to be buoyant because of the robust macro environment in the United Arab Emirates, the expanding expat community, and the increased competition among used automobile merchants.
The best time to buy used cars in the UAE.
When is the best time to purchase used automobiles in the United Arab Emirates?
According to the automotive digital platform AlgoDriven, prices decreased by 14.8% in the previous year as a result of an increase in new car inventories following the influence that COVID-19 had on the production levels of the automobile industry.
However, he anticipated that Ramadan would be a period of high demand for automobiles in the region, and they are forecasting a ten percent increase in sales overall compared to the previous year.
Because Dubai is such a significant market for the export and re-export of automobiles to both Asia and Africa, the United Arab Emirates (UAE) is home to one of the most extensive used car markets in the immediate vicinity. In recent times, Chinese automobile manufacturers have also been successful in expanding their market share by introducing new models to the domestic market.
How to choose a good used car in the UAE to buy.
Find out how to select a reliable used automobile to purchase in the United Arab Emirates.
Cars24 reports that a significant number of purchasers have a preference for purchasing automobiles that are between four and six years old and have been driven between ninety thousand and twelve thousand kilometers. When consumers inquire about pre-owned automobiles, the most common questions they ask are about the length of the warranty, the history of any accidents, and the mileage.
