Car Prices in Dubai are influenced by some market and well as some non-market elements. In the Middle East, there is a huge auto market for buying, selling and trading of the wide variety of vehicles. Here, you can find new and almost every used car model of different brands. The car market news, latest trends and expert car reviews are also very helpful for car sellers and buyers to choose cars which best suit their budget. We shall discuss here few market and non-market factors which affects the price of a car in Dubai.
Market Factors affecting Car Prices in Dubai
The UAE automobile market for latest and used cars is growing fast and high diversity of vehicles being traded have made it more competitive. The car prices in Dubai are determined by some market forces discussed below.
Do you think of the car brand while buying a car? The answer would mostly be “yes”. The reason is that some automakers have made their name for manufacturing of reliable and performance based vehicles. Such automobile manufacturers have built the trust of their customers for years and their customers are loyal towards buying their cars. The cars brands with the high reputation in the market tend to have the better sale of their cars and their high demands often leads to a rise in price.
The demand factor is one of the significant factors which affect the car prices in Dubai. A specific vehicle brand can have high demand because of its performance, fuel-efficiency, classic interior and attractive exterior design.
There are some non-market factors which impact car prices in Dubai. These factors are discussed below:
The car is checked for its interior, exterior and overall performance. The auto dealers evaluate the car and determine its resale value. The final car price depends on how good the condition of the car is.
The age of a vehicle is checked through odometer which shows how many kilometer it has traveled. Usually, the old cars have less resale value and market price.
The oil prices have a high impact on automobile industry because when oil prices rise, car sales decrease for conventional cars which consume more fuel. The demand for small and fuel- efficient cars increase in that case. This is how the oil prices have a direct impact on the car prices in Dubai.
Market Research for knowing car prices in Dubai
The car sellers and buyers should consider all these market and non-market factors before making any deal. A good market insight and the information are always helpful for making a successful and profitable car deal.