AutoData Middle East, a subsidiary of World Automotive Group (WAG) and a leading automotive data solutions provider in the UAE, has released itsĀ
2024 Used Car Market Report. This annual report provides valuable insights into the evolving automotive landscape in the UAE and Saudi Arabia.
In line with its commitment to transparency, AutoData Middle East also operatesĀ VehicleReport.me, a platform that offers detailed vehicle history, valuations, damage reports, and recall data at the Vehicle Identification Number (VIN) level. Since its relaunch in May 2024, the platform has gained overĀ 21,000 users, solidifying its presence in the market.
Automakers Strengthen Presence in the UAE and KSA
The automotive industry is undergoing rapid transformation, with the UAE recordingĀ 318,981 vehicle registrations in 2024āa 15.7% increaseĀ following aĀ 27.2% surge in 2023. Saudi Arabia also surpassed a significant milestone, exceedingĀ 1 million vehicle registrations for the first time, withĀ Toyota leading sales at 225,743 units.
Chinese automakers are continuing to grow their market share in both the UAE and KSA.Ā
Jetour, for example, captured 3% of the UAE market, with its T2 model securing the 8th position and aĀ
1.7% market share. In Saudi Arabia,Ā
Jetour recorded 9,569 unit sales, joined by strong performances fromĀ
Changan, Geely, and SAIC Motors. Overall, Chinese brands are reshaping market dynamics, with vehicle inquiries rising byĀ
77% in late 2024, signalling a stronger foothold in the used car market.
Rising Demand for GCC-Spec Vehicles and Shifting Brand Preferences
Data from VehicleReport.me reveals thatĀ 86% of users are buyers, whileĀ 14% are sellers. Among buyers,Ā 75% prefer GCC-spec vehicles, which are specifically designed to withstand the region’s climate and conditions. Popular models among buyers include theĀ Toyota Camry, Corolla, Nissan Patrol, and Altima. Sellers have yet to adopt independent pricing tools to accurately price their vehicles or know the value of their trade-ins, while buyers prioritise checking the history of a car.
When it comes to purchasing behaviour,Ā 83%Ā of respondents in both the UAE and KSA prefer to start their car-buying journey on dealer websites, underscoring the importance of a strong online presence. UAE car buyers, in particular, visit dealerships an average ofĀ 3.9 timesĀ before making a decisionāthe highest globally.
Chinese brands continue to make waves in the used car sector, withĀ vehicle inquiries increasing by 77% between September and December 2024Ā compared to the previous four months.Ā MG, Jetour, Geely, GAC, and ChanganĀ led the rankings in consumer interest, signalling a shift in buyer confidence toward competitively priced, feature-packed alternatives.
Market Trends and Pricing Shifts
Used car listings on DubiCars illustrate a growing preference for Chinese models, withĀ listings increasing by 56% in 2024, whileĀ non-Chinese brand listings declined by 5%. The hybrid segment also gained momentum,Ā with listings rising 44%, while EV listings showed onlyĀ a modest 2% increase, highlighting consumersā preference for fuel-efficient alternatives over fully electric vehicles.Ā SUVs continue to dominate the market, with models such as theĀ Toyota Land Cruiser, Nissan Patrol, and Jetour SUVsĀ retainingĀ over 80% of their value after three years.
Electrification and the Future of Mobility
The UAE government is accelerating itsĀ Electric Vehicles (EV) adoption efforts, targeting 50% of total vehicle sales by 2050. Dubai is also making significant strides, with plans toĀ increase EV numbers to 42,000 by 2030, a sixfold increase from current levels.
EV charging infrastructure continues to develop, supported byĀ government incentives and advancements in ultra-fast charging technology. The UAE remains at the forefront of autonomous mobility, withĀ 60% of respondents supporting self-driving vehicle adoption. Initiatives such asĀ Masdar City’s autonomous vehicle trialsĀ andĀ Dubaiās goal for 25% of trips to be driverless by 2030Ā are paving the way for the regionās future in smart mobility.
As electrification and autonomous mobility gain traction, the UAE and KSA are emerging as pivotal players in the global automotive shift.
Looking Ahead: The Road to Transformation
The 2024 UAE & KSA Used Car Market Report underscores the regionās dynamic shift towards enhanced consumer trust and varied industry strategies in the automotive sector. From the growing demand for transparency in vehicle history to the surge in Chinese car brands and the acceleration of hybrid and EV adoption, the region’s automotive industry is poised for continued evolution.
For further information on buying and selling vehicles with confidence, please visit AutoData Middle Eastās innovativeĀ Vehicle ReportĀ platform:Ā www.vehiclereport.me
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