Nearly 60% of UAE consumers are planning to buy an affordable car in 2021
Users increasingly searched for budget-friendly models such as the Toyota Camry and Nissan Altima last year
About six in 10 UAE consumers are considering whether to buy a car in the next six months, with price and value for money key considerations, according to dubizzle.
The UAE’s used car market ended the year on a positive note despite a drop in sales caused by coronavirus-induced movement restrictions, the classified listing portal's Used Car Market Report for 2020 found.
The sector was hit by “high levels of uncertainty” in April last year as transactions were put on hold due to fears of social interaction.
However, the market bounced back by the end of July, the report said.
Government relief packages for the automotive sector – including an online registration service and the suspension of pending fines – helped the sector to stay afloat, dubizzle said.
“The last year has been an exceptional learning curve for all of us ... the year has ended on a remarkably positive note for the used car market in the UAE,” said Haider Ali Khan, chief executive of Bayut and dubizzle and head of EMPG in the Mena region.
“It is understandable that more residents have been looking for personal conveyance to minimise the risk posed by public transport and this trend may continue in the years to come.”
About 44 per cent of dubizzle users searched for used vehicles under Dh50,000, resulting in higher views for budget-friendly models such as the Toyota Camry and Nissan Altima.
However, 24 per cent of users also searched for more expensive brands as Mercedes-Benz and Ford Mustang in the Dh50,000 to Dh100,000 price range.
High-end models also captured the interest of prospective buyers, with 14 per cent of users searching for vehicles that cost more than Dh200,000.
The dubizzle report, which is based on listings advertised by car sellers on the portal, does not reflect actual car transactions in the UAE.
The portal's inventories grew last year, with more than 78 car brands listed on it. Mercedes-Benz was the most viewed car brand followed by Toyota, Nissan, BMW and Ford.
“Overall, the used car market in the UAE has shown strength, resilience and a remarkable recovery in 2020," said Mr Khan.
"We are optimistic about the year ahead as the government continues to effectively combat the pandemic across the country.”
Updated: March 30, 2021 01:35 PM