United Arab Emirates: Passenger Car Market 2024

Passenger Car Market Size in the United Arab Emirates

After two years of decline, the passenger car market in the United Arab Emirates increased by 53% to $X in 2021. Overall, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Passenger Car Exports

Exports from the United Arab Emirates

In 2021, overseas shipments of passenger cars were finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2015 when exports increased by 40%. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, passenger car exports expanded notably to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 41%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X units), Japan (X units) and Oman (X units) were the main destinations of passenger car exports from the United Arab Emirates.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jordan (with a CAGR of +253.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for passenger car exported from the United Arab Emirates were Iraq ($X), Oman ($X) and Saudi Arabia ($X).

In terms of the main countries of destination, Jordan, with a CAGR of +306.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average passenger car export price stood at $X per unit in 2021, falling by -18.7% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, passenger car export price decreased by -20.0% against 2019 indices. The growth pace was the most rapid in 2019 an increase of 50%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Democratic Republic of the Congo ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+19.5%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into the United Arab Emirates

Passenger car imports into the United Arab Emirates skyrocketed to X units in 2021, picking up by 35% against the previous year's figure. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 47%. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, passenger car imports surged to $X in 2021. In general, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X units) constituted the largest supplier of passenger car to the United Arab Emirates, accounting for a 69% share of total imports. Moreover, passenger car imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. India (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.2% per year) and India (+17.2% per year).

In value terms, Japan ($X) constituted the largest supplier of passenger cars to the United Arab Emirates, comprising 46% of total imports. The second position in the ranking was taken by the United States ($X), with a 16% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Japan stood at +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.9% per year) and Germany (-0.7% per year).

Import Prices by Country

The average passenger car import price stood at $X per unit in 2021, growing by 21% against the previous year. In general, the import price, however, showed a slight setback. The pace of growth appeared the most rapid in 2017 an increase of 28% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :