New Vehicle Buyer Survey reveals that 61% of new car buyers in UAE are first time buyers
According to a New Vehicle Buyer Survey, 61% of car buyers in UAE are first time buyers, in line with the young demographic profile of the country. The survey also reveals that 66% of new car buyers in the UAE are between the ages of 18-29 years.
While internet is the most popular source of information, family/friends and word-of mouth recommendations formed top sources of influence (62%). For the UAE car buyers, comfortable ride & seating ranked among the top reasons for brand choice alongwith exterior styling, reliability and durability. In addition to style and excitement, customers also place great significance on safety, functionality and manufacturer reputation.
The survey also revealed that 64% of the new vehicle buyers have high education level, indicating sophisticated decision making process. The UAE customers have shown a preference towards quick and reliable service and not just the cost of servicing.
While buyers use their cars primarily to drive to work, they also seek vehicles that are enjoyable to drive.
The annual survey is conducted by Tetrahedron Consulting, a management consulting firm pioneering in advanced analytics, data mining and modeling in the automotive sector in the region.
“A car is a visible expression of one’s personal identity and the Middle East has always been a dynamic market for the automotive industry,” said Satish Singh, Chief Executive Officer and founder of Tetrahedron Consulting. “Yet remarkably little is known about consumers’ decision making process and attitudes toward the major car manufacturers. The New Vehicle Buyer Survey provides incisive insights into importance drivers, high potential segments and brand imagery association.”