Steep fall in Dubai used car prices, says report

Dubai’s used car market has experienced a significant decline in prices during 2023 and the trend is expected to continue this year, according to AlgoDriven, a leading, Dubai-based automotive data platform.

AlgoDriven’s data shows average depreciation over the year of 14.8% – a startling year-on-year fall – with 2022 only recording a 2.5% drop. The significant price fall reflects a softening in the used car market as…