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Country Report
Luxury Cars in the United Arab Emirates
Feb 2019
US$990Added to Cart
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Executive Summary
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PROSPECTS
New VAT slows luxury cars sales
The recent introduction of a 5% VAT has had a negative impact on demand for big ticket items such as luxury cars, thus impacting demand in 2018. Price competition will remain intense as deals such as good finance options and free aftersales service increase the value of a package.
Growing focus on aftersales service
In addition, dealers have also started offering free insurance, extended warranties and longer service contracts to attract consumers. Dealer margins will therefore continue to be squeezed in the short term.
Environmental awareness impacting demand
The shift towards greener energy and automobiles continues in the United Arab Emirates, with a growing number of consumers demanding cars that are eco-friendly, economical, have low pollutant emissions and a relatively low impact on the environment. Consequently, cars that run on alternative fuels such as Liquid Petroleum Gas (LPG) and Compressed Natural Gas (CNG) are becoming more available.
COMPETITIVE LANDSCAPE
Mercedes-Benz leads in luxury cars
Luxury cars play a significant role in the United Arab Emirates’ driving culture, and are exclusively international brands. Mercedes-Benz has a long-established presence and remains the leading brand, although others are challenging its reputation as the number one dependable, high-status alternative – Jumeirah, for example, which has now edged in front of BMW and Lexus to rank second.
Rising demand for Asian brands
With competition intensifying and little scope for further growth, prices are being driven downwards, with many suppliers adjusting after sales package prices (regular maintenance and servicing, parts etc.) in line with competition.
Increased focus on domestic production
As part of the government’s efforts to diversify away from reliance on oil, it is expected that the government in the United Arab Emirates will look to boost domestic manufacturing in areas like automotive parts manufacturing.
Rising competition putting pressure on prices
Oversupply remains a key concern within luxury cars in the United Arab Emirates, with dealers struggling to work out how much stock to maintain over the forecast period. In a bid to avoid price wars, companies will continue to look to better match supply with demand.
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Overview
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Cars industry in United Arab Emirates with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Luxury Cars industry in United Arab Emirates, our research will save you time and money while empowering you to make informed, profitable decisions.
The Luxury Cars in United Arab Emirates market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Luxury Cars in United Arab Emirates?
- What are the major brands in United Arab Emirates?
Why buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This industry report originates from Passport, our
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