The UAE’s Automotive Industry is constantly changing and 2024 will be of no exception. The best thing about starting a new year is it gives you an opportunity to start fresh! As we start 2024, there are a myriad of opportunities available for Car Dealers in the UAE to take advantage of and streamline growth.
EasyCars has put together the 5 biggest opportunities for Car Dealers in the UAE.
Let’s dive into it.
1. Electric Cars
Electric Cars are exploding in popularity around the world and the UAE is no exception. Recent studies have shown that Electric Car sales grew over 10% in the UAE in 2023. Analysts are predicting this number to double in 2024. What does this mean for Car Dealers in the UAE? It is a massive opportunity.
By far the biggest opportunity for Car Dealers in the UAE in 2024 is selling Electric Cars. The key to operating a successful business in any industry is selling what customers want. As more and more customers turn to electric vehicles it is vital that your dealership puts plans in place to source and sell electric vehicles.
2. Car Rentals
Recent figures released shows the UAE was the most visited country for international tourists in 2023. When international tourists come to the UAE, many will require a vehicle to travel to different locations. When you are a tourist you are not going to buy a car, what will you do? You will hire or rent a vehicle for a short amount of time.
Renting Cars in the UAE is a huge opportunity for all Car Dealers in 2024. The benefit of renting out cars that you may have available for purchase is it offers your dealership the ability to generate consistent daily revenue. Selling cars does take time and having a consistent pool of revenue coming in will position your dealership to achieve ongoing growth in 2024 and beyond.
3. Digital Transformation
The way that car dealers in the UAE buy and sell cars in 2024 will be much different to the way they did it in 2015. The UAE automotive industry changes constantly, and to be successful you need to change with it. One of the biggest factors changing the UAE is technology.
Over the Covid pandemic, customers became more custom to buying entirely online, this includes car purchases. Another huge opportunity for Car Dealers in 2024 is implementing new digital technologies to assist with Sales. Some of the recent game-changing technologies that many dealers are beginning to implement include Vehicle Advertising AI, Virtual Vehicle Tours and Online Car Deposits, all of which streamline the process for customers and increase sales opportunities.
4. Car Personalisation
For many people their car is a reflection of themselves and their personality. One of the biggest trends that has exploded in the UAE automotive industry is vehicle personalisation. Personalisation will continue to explode in popularity in the UAE in 2024 offering a huge opportunity for all car dealers.
To take advantage of the personalisation trend it is important that you build a strong relationship with your potential customers. Ask what they want, learn about their unique preferences and try to find ways to source exactly what they are looking for. The key to being able to source personalised cars for customers is having strong supplier connections or access to mechanical services which are able to adjust cars to suit the unique preferences of each individual customer.
5. Car Repairs and Servicing
A huge opportunity for Car Dealerships in the UAE in 2024 is offering Car Repairs and Servicing. The key to having a successful business is finding and introducing ways that you can drive consistent ongoing revenue. Offering Car Repairs and Services does this and more.
All customers will need to service their car and from time to time or will need to repair a component of their car. Offering car repairs and services will give you the ability to cater your services for a huge market and drive consistent revenue without increasing overheads greatly.
It is an exciting time in the UAE Automotive Industry. For Car Dealers in the UAE, there are an abundance of opportunities available for you to take advantage of that will allow you to accelerate earnings and streamline growth. The 5 opportunities presented are just a few of the most exciting opportunities available in 2024.
We hope you enjoyed reading this article. To read more articles like this, please visit the EasyCars latest news page here.
EasyCars by Jeal is a UAE Motor Industry Specific, Dealer Management Software that automates the daily tasks of running a motor dealership. Using the latest technologies, EasyCars removes frustrations experienced at the dealership - opening the doors to future growth.
EasyCars features include Simple Stock Management, Automated Advertising, Automatic VAT Calculations, Xero Accounting Integration, Facebook Automotive Inventory Ads, Dealer Websites and Business Reporting in the one central management software.
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