Strong demand led by strategic government policies and improvements in overall infrastructure
Growth in EV demand a key trend for 2023, reflecting a growing interest in eco-friendly mobility, according to report
The used car market in the UAE has witnessed unprecedented growth in 2023, with dubizzle Cars standing out as the leading platform for used car buyers and sellers. The latest dubizzle Pre-Owned Car Market Report 2023 indicates an uptick in the demand for used cars, accompanied by a simultaneous increase in available inventory.
Sharing his views on the reports, Haider Ali Khan, the CEO of dubizzle and the Head of dubizzle Group MENA, said: “The broader context of the UAE’s pre-owned car market growth in 2023 reflects a compelling narrative. The market has witnessed an unprecedented surge in demand, driven by factors such as shifting consumer preferences, strategic government policies and continuous improvements in traffic systems and infrastructure.
As a market leader, dubizzle’s role has always been driven by its ability to adapt and innovate, providing a platform that not only meets, but exceeds the expectations of buyers and sellers alike. As we navigate the landscape of 2023, dubizzle Cars remains at the forefront, paving the way for a seamless, transparent and enriching pre-owned car buying experience in the UAE.”
With a range of value-added services for buyers and sellers, dubizzle expertise as a comprehensive service provider is evident. By making transactions smoother, simplifying the entire process and enhancing the overall user experience, dubizzle has established itself as a key player in the evolving automotive market.
“dubizzle Cars is spearheading a transformative wave in the thriving pre-owned car market of the UAE. The success of initiatives such as the dubizzle Yard Weekend Sale validates our dedication to creating engaging events that bring together buyers and sellers in a vibrant marketplace, outside of our digital domain as well. Our enlightening dubizzle Cars podcast series delves into the latest market insights, offering a valuable resource for keen listeners. We remain committed to boosting user trust and confidence through initiatives that redefine the car-buying experience,” added Ali Khan.
Key Market Trends
dubizzle’s annual market reports offer a comprehensive overview of both luxury and non-luxury used car markets in the UAE. The reports provide valuable insights into the trends and top-performing brands and models, whilst shedding light on the factors driving this surge in demand, which include:
The dubizzle Impact: dubizzle has streamlined the vehicle-buying process, offering a wide range of services, including car insurance, financing and value-added services, all in one place.
300k+ Listings: A comprehensive array of unique live listings that cater to diverse preferences, ensuring that every visitor finds a vehicle to their liking.
10M+ Leads: The platform generated over 10M new leads, underscoring its popularity and effectiveness in connecting buyers and sellers in the pre-owned car market.
Grand Events: Exclusive events like the dubizzle Yard Weekend Sale showcased a diverse portfolio of vehicles, sparking interest in buyers who prefer to shop around in person.
EV Surge: The demand for Electric Vehicles (EVs) has risen by 33%, reflecting a growing interest in eco-friendly mobility. Aligning with the UAE government’s commitment to green mobility through initiatives like the Dubai Green Mobility Strategy 2030.
Integration of IoT and AI: The incorporation of the Internet of Things (IoT) and artificial intelligence in luxury cars has surged, enhancing the driving experience with features like autonomous driving, smart safety features and voice commands.
Within the luxury used car segment, European brands such as Mercedes, BMW and Lexus sustained the top position, owing to their high-end models featuring cutting-edge technology and advanced features.
Meanwhile, in the non-luxury used car category, Japanese manufacturers, notably Toyota and Nissan, have secured leading positions, with Ford also maintaining a prominent presence at the forefront.
SUVs and sedans have continued to be the preferred vehicle body types for both luxury and non-luxury buyers in the pre-owned car market. The Mercedes-Benz S-Class, BMW 5-Series, Lexus LS-Series, Range Rover and Porsche Cayenne have secured their positions as the most sought-after models for their respective brands.
Luxury Used Car Market Trends in 2023
The 2023 Annual Market Report on Luxury Pre-owned Cars in the UAE, compiled by dubizzle, unveils a thriving landscape marked by soaring demand and evolving trends. Despite the traditionally high price tags associated with luxury vehicles, the pre-owned car segment has witnessed substantial growth.
Furthermore, the surge in popularity of electric vehicles has compelled major automakers to incorporate eco-friendly options into their portfolios, thereby broadening the range of environmentally conscious vehicle choices. As the UAE embraces digitalisation, the rise of online platforms such as dubizzle is highlighted, transforming the vehicle-buying process and contributing to the sector’s robust growth. Offering a diverse range of over 1,000 models from more than 100 brands, the platform ensures every visitor finds a vehicle tailored to their preferences.
German car brands, notably Mercedes-Benz and BMW have continued to dominate the luxury pre-owned car market.
Mercedes-Benz has maintained its top position with a legacy of luxury and comfort, focusing on advanced features such as MBUX Augmented Reality. The S-Class sedan has continued its reign as the top Mercedes model, offering enhanced handling and luxury features.
BMW followed closely, with its 5-Series sedan reigning supreme in terms of agility and advanced technology.
Despite European dominance, Lexus, the luxury division of Toyota secured a commendable position. The flagship LS-series from Lexus remains a highly sought-after choice, showcasing the brand’s commitment to luxury, reliability and innovation.
Porsche has maintained its popularity in the luxury segment, with the iconic Porsche 911 and Panamera.
SUVs continued to dominate the luxury vehicle segment, with Nissan Patrol, Toyota Land Cruiser and Land Rover Range Rover leading the way.
In the luxury sedan domain, Mercedes-Benz showcased its dominance by securing the first three spots. The S-Class, C-Class, and E-Class stood out not just for their elegance but for the innovation that defines the brand.
Lexus with its LX-Series also emerged as a key player in the luxury SUV segment.
The most popular used luxury sedan, the Mercedes S-Class, has been available on dubizzle at an average price ranging from AED 263,600 for the 2019 model to AED 676,200 for the 2023 model. This iconic model has represented the pinnacle of luxury and sophistication.
The average price range for the Nissan Patrol, the most sought-after luxury SUV, has fallen between AED 151,400 to AED 249,800 for models spanning 2019 to 2023. With its commanding presence and refined features, the Patrol has remained a top choice.
The second most in-demand SUV, the Toyota Land Cruiser, has an average price range of AED 217,600 to AED 339,200 for the 2019 to 2023 models respectively. This robust SUV has combined luxury with unparalleled off-road capabilities.
Other pre-owned luxury models that have been making waves in the market include the Mercedes E-Class, BMW 7-Series, Land Rover Range Rover, Porsche Cayenne, Audi Q7 and Lamborghini Urus.
Non-luxury Used Car Market Trends in 2023
As the UAE automotive industry evolves to meet dynamic consumer demands and emerging mobility trends, the non-luxury pre-owned car market has also experienced remarkable year-on-year growth in 2023. The year 2023 witnessed a pronounced shift in consumer preferences towards non-luxury pre-owned vehicles, driven by a range of options compared to new vehicle purchases.