DCC examines used car market trends
- 03 Oct 2022
Dubai Chamber of Commerce (DCC) recently hosted the Used Cars Showroom Business Group for a meeting at its headquarters, where members of the group discussed market trends, opportunities and challenges emerging within Dubai’s used car market.
The meeting was attended by Mohammed Bin Sulaiman, Director of Business Relations at Dubai Chamber of Commerce and Saeed Al Ketbi, Chairman of Used Cars Showrooms Business Group, as well as group member companies and representatives from the Chamber.
During the meeting, participants explored new ways member companies can align their efforts to enhance industry standards and better serve customers.
Discussions also highlighted the need for the business group to capitalise on growing demand for used cars and meet the changing needs of used car dealers and customers alike.
Bin Sulaiman elaborated on Dubai Chamber of Commerce’s role to ensure a favourable business environment in Dubai and provide an ideal platform for businesses groups to collaborate, unify their efforts towards common goals and work closely with public and private sector stakeholders.
According to a study conducted by Frost & Sullivan, 3.5 used cars are currently purchased in the UAE for every new car sold. This ratio is expected to reach 2.5 used cars for every new car purchased in 2025.
Business groups and councils play an important role in promoting and supporting Dubai’s economic growth, as they are an essential component of the business community, contribute to trade and investment and enhance economic competitiveness.
Dubai Chamber of Commerce works closely with various business groups and councils in Dubai that operate under its umbrella, to address shared challenges, share their recommendations for improving ease of doing business and providing them access to global growth opportunities.
