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Mon 8 Jun 2020 03:48 PM

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Used car sales bounce back 150% in UAE

The slowest cars to be sold are priced between AED400,000-AED500,000

Used car sales bounce back 150% in UAE

The slowest cars to be sold are priced between AED 400,000 - 500,000

Used car sales in the UAE are beginning to bounce back after witnessing a 75% drop in demand from March to April as a result of Covid-19, according to data from online car platform Carzaty.

Sales for used cars in the UAE rose 150% in early May thanks to an easing of lockdown measures, and are currently on an upward trajectory, the Carzaty Used Car Sales Volume Index showed.

However it now takes longer to sell a car, with days of supply increasing from 31 in March to 68 days in May.

The fastest selling cars today are priced below AED 100,000, and make up 73% of used car sales, with Nissan Patrol representing the highest number of units sold, while other popular models include Mitsubishi’s Pajero and Toyota’s Land Cruiser, Prado, Corolla, and Yaris.

The slowest cars to be sold, on the other hand, are priced between AED 400,000 - 500,000.

“As people return to work in a post-COVID world, we believe demand for used cars will significantly outpace new cars,” said Carzaty managing director Hassan Jaffar.

“Consumers are looking for the most value for money when purchasing their next car and the smart choice is to buy a quality used car,” he said.

Carzaty was founded in 2017 and operates in the UAE and Oman. It is an online platform to search, compare, buy and finance new and used cars. ​

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