Dear customers and partners,
I trust everyone is well and that you and your families had a good festive break.
I wanted to send you all a message to thank you for your support and to talk a little about 2021 and how we see the market in 2022 and what our plans are.
There is no doubt that 2021 was a mixed year. On one hand, there were challenges (there still are) around new car production and used car supply, but on the other hand the used car market, in terms of demand and residual prices, is in great shape and this has been driven partially by the pandemic.
We have seen time to sell reduce dramatically to an average of 15 days and we have seen residual prices increase by 10%.
This is not unique to the UAE, it’s a global trend which also gives us opportunities within the export market, which we are keen to capitalize on.
At Dubi Cars, we have seen tremendous change within our own business and within the market, but one thing that hasn’t changed is our values.
- We partner, not compete, with automotive retailers
- We innovate to solve problems and create value
- We share data and best practices
- We are passionate and focused
- We invest in partnerships
And our mission also hasn’t changed. We want to support our dealer partners in becoming successful online retailers and we want the consumer (the car buyer) to have trust in our brand and to have a great experience online with all the tools, data and cars they need.
In 2021 we launched new exciting products, evolved our search for the local and international buyer and we officially launched our managed service for exporting, successfully shipping cars to over 50 countries and with all of this we saw a growth of 40% in leads.
I don’t believe we are in a bubble in terms of the used car market, but we are in a moment in time where supply is low, and demand and prices are high. We all need to capitalize on this “moment” and prepare ourselves for what is next, which has to be around giving the consumer an even better experience online and ensuring that the industry is as efficient as possible.
So in 2022, we will do even more. We have some new and exciting products launching very shortly, we have increased our budget for marketing and we have some exciting ideas around how we can help you source more vehicles (watch this space).
It is definitely time for change and we look forward to changing and developing with you and enjoying even more success.
I wish you and your families the best of luck and health for 2022
Craig Stevens, CEO Dubi Cars
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