With the new 2019 model launches beginning to make their way into press releases, the used car market begins the value shift to the next year. CarSwitch.com, the UAE’s first certified used car online platform that handles thousands of customer buy and sell requests every month, reveals the current state of the private used car market of Dubai in numbers.
Used or slightly used? The UAE population is intrinsically transient, particularly with end of school summer season looming, and consumers often opt to sell their used cars now. Given these dynamics we are seeing used cars in Dubai from private sellers are “newer” than one would typically imagine, with 54% of sellers owning a car that is 2013 or newer! Half of which, are actually 2015 or newer which means are often still with manufacturer warranty and even service contracts.
The value shift? Cars depreciate, and it’s particularly pronounced in the UAE with cars losing 20-30% in the very first year and 15-20% in every year that follows. However, with older models (<2009) only representing 20% of the private seller used car market, the overall average value of a used car remains relatively hefty at AED 45,000. Values naturally vary considerably across makes and models, and as an overall range 55% of used cars are valued between AED 30,000 to 110,000.
SUVs are the most common: In line with UAE’s off road opportunities and more affordable fuel economics, SUVs are the most popular body type holding 45% of the used car market. Hatchbacks and sportier Coupes hold 8% each with the remainder predominantly with Sedans.
The makes that rule: The most popular used car makes in the Dubai remain consistent with last year with Toyota and Nissan leading the market with an 11% share each. Ford follows in third place with an 8% share, overtaking BMW’s lead last year. Mercedes is another very popular make in Dubai that now closely follows BMW with an equivalent 7% share.
The kings of the road: A deeper look at specific models shows the Mitsubishi Pajero as the most popular used car available for sale at the moment, with a 3.6% share. Of the remaining models in the top 10, Toyota holds 5 spots with is Civic, Corolla, Camry, Prado and Yaris. The Nissan Altima, Ford Edge, and Honda Accord also make noteworthy appearances.
Overall, Dubai’s used market leaves little to be desired with a broad array of makes and models, which are mostly only slightly used and often with manufacturer warranty and service contracts. With the summer months upon us now is the idle time to pick up your new used car! The only catch is insuring the condition of what you’re buying and so always be sure to get your next car inspected, or surf the pre-inspected used cars in Dubai on CarSwitch.com.
Figures above are from analyzing over 7,000 seller requests over the past couple of months of 2018
