Revolutionizing Car Delivery Time in UAE: Faster Handovers and Shorter Waiting Periods for New Buyers
Revolutionizing Car Delivery Time in UAE: Faster Handovers and Shorter Waiting Periods for New Buyers
The car delivery time in UAE has significantly decreased, allowing new car buyers to enjoy reduced waiting periods and faster handover of their vehicles. Thanks to the efforts of dealerships and the availability of more incentives. This positive trend is being observed after a prolonged period of lengthy waiting periods, providing a much-needed boost to both car owners and dealers.
The Era of Reduced Waiting Times
In recent years, UAE car buyers had grown accustomed to booking a car and enduring long waits for its delivery. However, there has been a major breakthrough as waiting periods are now significantly shorter, marking a welcome change in the market. Previously, it was not uncommon for customers to wait for months, but now, many popular car models have reduced their wait times to just a couple of weeks.
Banks Facilitating Faster Deliveries
In addition to the efforts made by dealerships, UAE banks have played a crucial role in facilitating faster car deliveries. Despite the interest rate hikes witnessed since March of ’22, banks have introduced flexible finance schemes, thereby attracting higher auto loan demand. The current average flat rate for car financing stands at 3-5 percent, while reducing income sees rates of 5-10 percent. Banks have also sweetened their deals with cashback schemes and other incentives, further enhancing the car buying experience.
Dealerships’ Enhanced Offerings
To ensure the cost of owning a new vehicle remains within a favorable range, dealerships have come forward with additional offerings. Besides the standard extended warranty, buyers can now avail themselves of free insurance and other attractive add-ons. These measures have effectively enticed customers to invest in new cars and have played a pivotal role in bolstering the local auto industry.
“Dealerships have been able to get much higher delivers from their principals, and all that is making for a much stronger market that was anticipated at the start of the year”, Brent added.
Surge in Car Sales
The combined efforts of dealerships, banks, and attractive incentives have resulted in an unexpected surge in new car sales. Although market projections initially estimated a 5 percent increase in sales, the actual growth has been recorded at an impressive 15 percent year-to-date. Dealerships have been able to secure higher deliveries from manufacturers, exceeding the market’s expectations and creating a much stronger automotive market than anticipated at the beginning of the year.
Hybrid Models and Future Prospects
While the delivery situation has improved for most models, the demand for hybrid vehicles continues to present challenges in terms of waiting periods. Hybrid models are experiencing a waiting list of approximately two months, primarily due to strong demand from global markets. However, as more brands introduce hybrid options alongside traditional fuel-driven vehicles, the industry expects growth in this segment to surpass the current 10 percent share of UAE new car sales.
Future Expectations related to Car Delivery time in UAE
Looking ahead, the UAE automotive market is poised for further development. Manufacturers like Toyota are expanding their range of hybrid choices, while niche brands such as Maserati are offering hybrid options across their entire lineup. The awaited tipping point for electric vehicles and hybrids in the UAE sales market is when these models become available in more pricing ranges. Additionally, increased interest from fleet operators is expected to contribute to the market’s growth.
Information Courtesy: gulfnews.com
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Posted by Muhammad Fahad
on May 30, 2023. Filed under Car News.
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