Dubai Cars’ most recent survey highlights important car buying trends for dealers around Ramadan, Covid-19, online buying preferences and more.
With over 1 million car buyers every month, DubiCars is the UAE’s most trusted online car market for buyers and sellers. A 2021 survey conducted to understand purchasing behavior in the car market has given us a great understanding of the mindset of buyers – whether they are buying new, used, online, offline, during, or after Ramadan.
For instance, 84% of respondents confirmed they plan to buy a car in Ramadan, with 72% confirming that discounts will influence whether or not they make a purchase. 22% also said that flexible payment plans will help them make a positive choice. When it comes to buying used vs. new cars, a majority 64% of respondents said they are planning to buy used, while only 16% said they would buy a new car. Furthermore, from those interested in buying used cars, 43% are looking for financial support but not being able to find options online easily. For dealers, this could be a quick and easy win by ensuring full transparency, detailed and comprehensive online listings, better quality photos, videos, inspection history, and car descriptions. Plus, if they offer financing solutions, they will be able to truly attract, engage and convert buyers looking for both used and new cars. Covid-19 has also radically shifted the importance of owning a personal car, and the way that people want to purchase. 84% said that owning a car is essential to them now and 76% of respondents said they are comfortable buying a car fully online even though 75% of them have never done this before. A combination of travel restrictions and a belief that there is a better and wider range of options to choose from online vs. going to a showroom has created a massive shift in thinking. Digging deeper into the concerns buyers might when buying online, however, we found that trust is a major deterrent. 31% of buyers worry about not being able to inspect a car to check if it’s used, 20% believe they will not be provided enough information, and 17% expected challenges with trading in their used cars. There is no denying that expectations and concerns for buyers have changed with the presence of the pandemic. The only way for sellers to keep up is to think outside the box with the strategies and tools that they employ. Our core focus this year has been just that; creating digital solutions for buyers to drive more leads and sales. For instance, the WhatsApp tool connects buyers and sellers directly and has driven 15% more leads for buyers. The Spin Car 360 External Shot feature gives buyers a virtual look and feel of the cars and has therefore driven 2X more leads for buyers. To find out more about our latest tools, click here.