Dubi Cars International recently conducted three consumer surveys, which reveal a substantial shift towards online transactions for pre-owned cars, as consumer trends continue to change since the onset of the Covid-19 pandemic.
The results of the surveys have led the UAE’s most trusted online car marketplace to anticipate 80 per cent of all car export transactions and 40 per cent of all local car purchases will be either initiated or fully conducted online by 2022.
Titled ‘Dubi Cars Online Car Buying’ (DCOCB), ‘UAE’s Most Trusted Automotive Marketplace’ (UMTAM) and ‘Dubi Cars Market’ (DCM); the three surveys pooled responses from more than 6,000 UAE-based consumers, revealing major potential for used car dealerships in the region.
The recently conducted DCOCB survey revealed that 75 per cent of respondents have never purchased a car online. However, when asked if they would consider it, over 75 per cent of respondents expressed their eagerness to conduct virtual transactions. Potential buyers are spending increasing amounts of time on online car marketplaces and over 84 per cent of consumers highlighted the importance of owning a private vehicle since the onset of the Covid-19 pandemic.
Dubi Cars has experienced a swift return in generated customer leads since post lockdown and has documented a rapid increase in website traffic, recording a 47 per cent increase in website visit time. Consumer leads for SUV-crossover models grew by 25 per cenyear-on-year, and leads for sedans grew by 6 per cent, reaching 100,000 leads a month - an all time record-high for Dubi Cars.
Craig Stevens, CEO of Dubi Cars commented on the changing market conditions, “The overall UAE economy is picking up pace and as the country looks towards the future, consumer trends have shifted towards digitized purchases across the board. This includes the automotive industry, which is experiencing an accelerated rate of digital transformation. Customers are now considering purchasing used cars wholly online and car dealerships need to adapt their business models to this growing trend, which is likely to continue as the used car market rapidly recovers.”
The DCOCB survey further highlighted ‘Car Inspections’ as a primary challenge consumers face when considering an online purchase. Over 30 per cent of consumers stated that inspecting a car is necessary when purchasing used cars. To diminish online purchasing restrictions, Dubi Cars has developed two new digital solutions - 360 Exterior Car View and Premium Video Features - to offer customers a more holistic experience when transacting online.
Dubi Cars is the only car marketplace to provide car dealerships with the state-of-the-art 360 Exterior Car View feature, which offers prospective customers with cutting edge technology that delivers a realistic viewing of the car exterior, displaying all features and giving a close-to-reality feel of the car. Additionally, Dubi Cars has heavily invested in new video technology that offers prospective customers the luxury of inspecting their desired vehicles from different angles, from the comfort of their own homes. Vehicle posts on Dubicars.com that included the 360 Exterior Car View function created 9x more impressions, 8x more clicks and 3x more buyers – illustrating the power of online transactions for motor vehicles.
“Digital solutions have positively impacted consumer trust in online car marketplaces, and Dubi Cars is leading the way by developing new solutions that minimise online decision making processes; making them easier, faster and better,” explained Stevens.
The UMTAM survey highlighted that over 80 per cent of consumers were planning to purchase a car despite the pandemic restrictions. The UAE car market has been drastically affected and consumers are seeking competitive price points for reliable and affordable cars, with over 70 per cent of consumers stating that price discounts impacted their decision making process. Over 80 per cent of respondents anticipate special discounts and offers when completing online transactions.
The recently conducted DCM survey highlighted that over 90 per cent of UAE consumers are considering buying a vehicle in the next three months, with approximately 80 per cent interested in purchasing used cars. - TradeArabia News Service