One of the fastest-growing eCommerce platforms for pre-owned cars in the world, CARS24 has delivered on its promises by connecting with over 7000+ enthusiasts in the UAE and delivering them high-quality cars since it started operations in May 2021.
Out of these customers, 70 percent were males and 30 percent were females, with an average age of 35.
The unicorn entered the country with one of the most majestic displays of its brand story on Burj Khalifa, the tallest building in the world, with the aim of bringing a paradigm shift in the UAE consumer’s car buying experience.
Abhinav Gupta CEO – CARS24 Gulf Region
“We still fondly recall our campaign on Burj Khalifa. This was one of the most prestigious campaigns for us and with this, CARS24 has not only made a strong statement in the UAE but also across the world. Since that day, we have achieved several milestones in the UAE and have reached out to thousands of consumers in the UAE. Most importantly, we are happy to see that there was a paradigm shift in the consumer’s buying behavior. People never thought you could buy a car online in the UAE until we broke that stereotype. Today, we are proud to say that in the UAE we have sold 100% of these cars online, which is a great milestone in itself for us.”
Over the last year, CARS24 has completed some prestigious deals that included a Lexus LX 570 2021 model, which was sold online for $115,219, one of the most expensive cars that were sold on the platform.
On the other hand, the platform has also sold the Honda Civic 2007 model for $1,361 and the Renault Safrane 2014 model for $1,660, some of the most inexpensive cars in the world. Furthermore, every car bought from CARS24 comes with a 7 days return policy and up to 12 months warranty.
“At any given point, our portal provides an option to choose from close to 2,000 completely certified quality cars. We have observed that most of our cars are reserved the moment they are uploaded at an affordable price point. We are sure that this would enable all consumers who were not able to buy a car of their choice earlier to own one now. Providing the highest quality customer experience has always been our priority, and hence, our pricing and business model were created with the end consumer in mind. We will continue to scale up our assortment of cars as we move on to 2023,” the CARS24 Gulf CEO added.
During the last quarter of 2021, CARS24 unveiled another milestone to further extend its commitment to its customers in the UAE by unveiling its exclusive Mega Refurbishment Lab (MRL) in the UAE.
This 1,000,000 sq. ft. commercial facility in Jebel Ali, with a total contract value in excess of $10.89 million, is one of Dubai’s largest ever leasing deals on record. The company adopts a stringent 150-point check and each aspect of the car is reviewed with the minutest details at the MRL prior to listing the car on its platform. This MRL in the UAE now has the capacity to roll out close to 20,000+ cars in a year.
A recent survey commissioned by CARS24 in collaboration with YouGov revealed that nearly 64 percent of the respondents are looking at owning a pre-owned car this year. Moreover, 69 percent of males and 54 percent of female respondents are planning to buy a pre-owned car this year.
Around 71 percent of the people within the $5,445 – $10,890 category are likely to buy a pre-owned car, whereas closer to 80 percent of the people surveyed are likely to go for a pre-owned car within the $10,890 plus income category. With regard to the respondents across the 7 emirates, 63 – 65 percent are likely to buy a pre-owned car in 2022.
Commenting on CARS24’s support for the start-up community in the UAE, Mr. Gupta stated that, “Start-ups are the bedrock of any economy. We are here to share our wealth of experience and add value to this promising sector of start-ups in the UAE. As part of our corporate culture and philosophy, we want the entrepreneurs in UAE to thrive and learn from the challenges we faced and the solutions that we developed to tackle those challenges. With ‘The Outliers Challenge’ initiative at Hub71, we are trying to bring this vision to fruition”.
“We will build upon our last year’s success in 2022 and continue to offer all our car enthusiasts some of the finest assortment of high-quality cars. CARS24 is the new-age way of buying pre-owned cars where a customer can easily select their favorite car, complete the entire payment and documentation processes, and get the car home delivered all with a click of a few buttons,” Mr. Gupta concluded.
