dubizzle looks into luxury motors trend in the UAE

Dubai / Emirates Business

dubizzle, the UAE’s leading classifieds platform, has published its first ever luxury and prestige motors report looking at trends over the first seven months of 2016. According to the report, almost 145,000 car ads were posted, with over 7,000 luxury car
ads, including Porsche and Bentley, and 36,000 prestige car ads, including Mercedes-Benz and BMW, for sale
on dubizzle.
“With an average of 1.68 million monthly active users, dubizzle’s motors section is not only the most liquid automotive marketplace in the UAE, but also an automotive data gold mine. In this market-first luxury motors report we wanted to highlight the popularity of luxury and prestige cars in the UAE and share some insights on the local competitive landscape within those segments,” commented Jean-Pierre Mondalek, General Manager Motors at dubizzle.
The report considered luxury and exotic car brands including Aston Martin, Bentley, Bugatti, Ferrari, Lamborghini, Maserati, McLaren, Porsche and Rolls-Royce. Porsche was identified as the most listed luxury car on the platform since January this year with approximately 4,300 ads, followed by Bentley with 940 ads, and Ferrari with 450 ads. The total value of cars posted for the three aforementioned brands was AED 924 million, AED 512 million and AED 270 million respectively. When looking at the average prices of cars in the exotic segment, 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.
“dubizzle has witnessed steady growth in the used car market with over 1,000 listings posted in the motors section every day.
“This is driven by the strength of the dubizzle marketplace to connect over 80% of sellers with a buyer within the first week of placing an ad. Since
the start of 2016 we have seen over AED14 billion worth of cars listed on dubizzle and expect this volume to keep growing as we bring more transparency to the used car market in the UAE,” said Mondalek.
When delving into the results of prestige car brands, including Audi, BMW, Infiniti, Lexus and Mercedes-Benz; Mercedes-Benz ranked as the most popular on dubizzle with approximately 13,100 ads posted between January and July 2016. BMW and Lexus came in second and third with approximately 9,400 and 7,400 ads posted respectively. The total value of cars posted from these 3 brands was AED 2.1 billion, AED 1 billion and AED 717 million respectively. Mercedes-Benz also ranked as the most expensive prestige brand, with an average price of approximately AED 161,000, followed by Audi and BMW at approximately AED 113,000 and AED 107,000 respectively.
Excluding the luxury segment, over 101,900 car ads were posted on dubizzle year-to-date, including popular models from Ford, Toyota and Volkswagen. dubizzle users have access to a wide range of car brands with many at substantial savings from new. The average non-luxury car price on dubizzle is approximately AED 67,000.
Year-to-date the total value of cars posted on dubizzle was AED14 billion – to put this value into perspective, that is enough to build another Palm Jumeirah island.