Dubizzle Report on Luxury Cars in Dubai Reveals Interesting Insights on Used Car Trends

dubizzle, which is the leading classifieds portal in the UAE has published its first report regarding trends in the segment of luxury and prestige automotive brands. The report covers the first seven months of the year and reveals fascinating insights into the demand for luxury used cars in the UAE. As many as 145,000 car ads were posted during this period and 7,000 were for luxury cars including brands like Bentley and Porsche while 36,000 of them were for prestige cars like BMW and Mercedes-Benz.

Jean-Pierre Mondalek, General Manager Motors at dubizzle claimed that dubizzle’s motors section is not only the most liquid automotive marketplace in the UAE, but is also an automotive data gold mine as it has an average of 1.68 million monthly active users. He said the company prepared the report to highlight the popularity of luxury and prestige cars in the UAE and share some insights on the local competitive landscape within those segments.

The report covered luxury and exotic car brands like Bugatti, Aston Martin, Ferrai, Bentley, Lamborghini, Maserati, McLaren, Porsche and Rolls-Royce. Porsche was the most listed luxury car on the platform since January this year with approximately 4,300 ads, with Bentley coming second with 940 ads, and Ferrari with 450 ads. The total value of cars posted for these three brands was AED 924 million, AED 512 million and AED 270 million respectively. When it came to average prices for exotic cars, Bugatti ranked as the most expensive with an average price of AED 7 million, followed by Lamborghini at AED 1 million and Rolls-Royce at AED 950,000.

Mondalek said that dubizzle has witnessed steady growth in the used car market with more than 1,000 listings posted in the motors section on a daily basis. This is mainly due to dubizzle’s strength as an online marketplace due to its ability to connect with 80% of sellers with a buyer within the first week of placing an ad. He added that from the beginning of 2016, over AED14 billion worth of cars were listed on dubizzle and he expects this to keep growing as they try to bring a greater level of transparency to the used car market in the UAE.

When it comes to prestige car brands, like Infiniti, Mercedes-Benz and BMW, Mercedes-Benz emerged as the most popular brand with approximately 13,100 ads posted between January and July 2016 while BMW and Lexus took the second and third spots with 9,400 and 7,400 ads respectively. The total monetary value for the cars belonging to all three brands was AED 2.1 billion, AED 1 billion and AED 717 million respectively. Mercedes-Benz was also the most expensive prestige brand, with an average price of approximately AED 161,000, while Audi and BMW were placed second and third with average prices of AED 113,000 and AED 107,000 respectively.

Other than vehicles in the luxury segment, over 101,900 car ads were posted on dubizzle for the period covered in the report and these included popular models from manufacturers like Volkswagen, Ford and Toyota. Buyers of used cars will definitely save a lot of money if they buy cars through dubizzle as they will have access to a wide range of car brands and can make significant savings from new. The average price of a non-luxury car on dubizzle is about AED 67,000.

From the beginning of the year to date the total value of cars posted on dubizzle was AED14 billion, an impressive figure by any yardstick, especially when you consider the fact that it is enough to build another Palm Jumeirah island.