The first model of Range Rover entered the market in 1970. Since then, more models have been introduced into the market with the intention to improve on the features of the previous model. The latest Range Rover model in the market is the fourth generation model. This model comes with a wide range of features that distinguish it from the other models.
Range Rover Evoque
Range Rover Velar
Range Rover Sport
Range Rover Vogue
Range Rover Autobiography
Range Rover SVAutobiography
Some of the outstanding features of the fourth generation model include glare-free high beam, industrial degree radar sensor which enhances adaptive cruise control, traffic sign recognition feature, intelligent and efficient dynamics features, semi-aniline leather which gives the interior a world-class finish, rear climate seats, and center console Chiller Box among other features.
However, these features are not in all models of the fourth generation models. Some of the features in the fourth generation model are found in the higher models of the third generation model.
Range Rover is one of the most luxurious vehicles available in Dubai. The superior features of this car have made it a favorite among many motorists in Dubai.
People in Dubai regard Range Rover as their dream car because of its high performance. Just like other car models, the cost of purchasing a Range Rover varies from one model to another. Also, other factors may make the price of one particular car model higher than that of another. This paper is intended to highlight some of the factors that contribute to the differences in prices of Range Rover in Dubai.
a. Range Rover Sport – this car is known for performance and refinement. It comes with an optional third-row seat. There’s also a powerful plug-in hybrid engine. This car is also known for generating extreme excitement with its 575 hp supercharged V8 that can propel the luxurious, comfortable, and supremely capable beast to 60 mph in 4.3 seconds.
The car comes with several features that include cavernous cargo space, remote, app-based features, and premium infotainment features. The car is also highly capable off the beaten path. Like all the Range Rovers, their premium finishes, compelling standard equipment, and handsome exterior designs that were glazed the space within them in a special light.
They can appeal to posh travelers even when those people get one in dirty boots are par for the course, but it’s their robust build and comprehensive safety systems that set the sophisticated Land Rover in its own league.
Range Rover is one of the preferred luxury cars in Dubai. The cars have several features that make them stand out. They are all-terrain capable. You can use them in the desert and on tarmac roads. The cars are also known for their class and status. The car, which can easily retail at an average price of $100,000, boasts maximum class and prestige wherever you go.
They also come with comfortable passenger space, a quality finish, strong engines, a smooth ride, a 4-wheel-drive vehicle, off-road expertise, the power to tow up to 8,201 pounds, and electric steering. All these features are behind the high price of Range Rover.
Let’s understand the Range Rover lineup or model awareness. We have four main Range Rover vehicles. These include Range Rover Sport, Range Rover Vogue, Range Rover Evoque, and Range Rover Velar.
In Dubai, cars, and especially luxury cars, generally would have a higher specification than the base models.
Also, up-to-date and manufacturer-correct options that have been correctly and expertly fitted by an associated dealer would have more value than the same parts ordered separately and fitted by an expensive third-party service provider.
In Dubai, the 5% import duty is on motor cars, but there are also several motor-related taxes, such as the municipality tax. The 5% excise tax is on luxury cars, such as the Range Rover model. The excise tax is on the retail selling price (RSP), which is the duty-paid value of the cost, insurance, and freight. In some ranges of cars, a higher excise tax may be applicable.
It is important to remember that Dubai has no personal or corporate income tax. The RSP value for tax purposes can vary. The vehicle could have additional dealer options, factory-fitted options, or be a special edition promotional vehicle featuring unique add-ins.
We can comprehend many factors that influence the price of Range Rovers in Dubai, mainly apart from the make, model, and year. These factors affecting Range Rover prices in Dubai are associated with the vehicle cost, insurance cost, shipping cost, and customs and import duties.
If the impact of transportation costs, such as shipping and import fees, varies in the cost of Range Rover of different specifications, then both consumers and dealers will be expected to treat cars differently with respect to the cost of shipping. This is particularly relevant in Dubai, where import type tariffs have been exceptionally hiked for luxury cars like Range Rover.
This paper aims to investigate the main factors influencing Range Rover prices in Dubai to assess whether these price influences are with respect to the overall price of the car. Specifically, this chapter postulates that import tariffs will have an influence on the make of Range Rover vehicles in Dubai data. As mentioned, the import type tariff value levied is based on the minimum valid value levied on a certain type of luxury car.
Understanding import tariffs: These tariffs, or customs, are the amount of money a person, business, or company has to pay for imported goods and raw materials from other countries. The local government in Dubai puts these tariffs on goods entering the United Arab Emirates to discourage imports. The tariff amount that has to be paid in Dubai for importing a luxury car, Range Rover, is 983.51 AED.
Range Rover is a luxury sports utility vehicle manufactured by a British automobile company established in 1978. Since then, the company has been producing neat and luxurious cars. Range Rover exports vehicles to many other countries and earns decent amounts of money through exports, serving trading and good relations.
They also have regional offices and showrooms in different countries. Range Rover, founded in 1948, made the first luxury sport utility vehicle that is expensive and is incorporated with different luxury features. When comparing with other new and old car companies, Range Rover has remained its mark in the automobile field among all sports luxury cars.
When the US dollar is strong, Range Rovers and any other dollar-priced products are extremely expensive for residents in the UAE. Thus, the prices of these SUVs will tend to be slightly higher in Dubai compared to when the US dollar is weak.
Given that the economic indicators in the US and the UAE are almost always a little different, it does not make much sense to compare Dubai car prices to the prices in the US or anywhere else on US soil
. Instead, it is better to compare car models that have a significant number of similarities. It also makes better sense to compare car prices during different years when the US dollar was stronger or weaker compared to the UAE Dirham.
There are a number of factors that drive the prices of cars like Range Rovers in Dubai. The first has to do with exchange rates. The UAE Dirham is the currency used in the United Arab Emirates. It is pegged to the US dollar at 3.76 Dirhams per US Dollar.
This makes it expensive to import products from the US into the UAE. Despite the fact that Range Rovers under the Jaguar Land Rover company, the subsidiary of Tata Motors India, for example, are produced in the UK for the most part, they are priced in dollars.
In particular in the UAE market, luxury cars are considered goods that have price tags let in other currencies.
This stems from the fact that the market is in particular the market. As seen from the exchange rates development in the middle panel of Figure 2.2, exchange rate in the UAE have appreciated against US dollar over time except for the dramatic depreciation event that surrounded the global financial crisis in 2008. Such a depreciation of the UAE exchange rate should have led to an increase in the AED-terms price of goods, especially imported US-dollar denominated goods.
AED only became freely convertible on the international exchange markets in the beginning. In particular, many of the goods, especially consumer goods, in the UAE market are imported.
In pricing the imported goods, exchange rates are one important determinant for the sellers since they record their sales in another currency (normally in US dollars), but they need to convert their revenue into AED since they need to pay suppliers in another currency, mostly in US dollars. Because of such reasons, if exchange rates depreciate, prices of other currencies denominated goods tend to fall.
In a city like Dubai, where one of the most craved items is the 4×4, there is always a market for any top-of-the-range 4×4, like a Range Rover. They are usually sold out as soon as they arrive in the dealer’s yard. The top-of-the-range 4×4 vehicles are bought by customers who do not really care how much they will pay to drive a super 4×4, especially when appearances are everything.
These owners do not really pay for fuel, and they do not like to change cars every year, especially when the latest model is arriving only some 12 to 18 months after the leading dealerships in the world received it. Demand is high for all Range Rover models, especially if there are only very few used models of a particular model. Sustained high residual values of the 3-year-old models of the previous model help to keep supplies tight and prices high.
UAE car regulations dictate that cars may only be registered in the name of a national or commercial entity incorporated within the country.
This has an impact on the second-hand car market. Most second-hand cars are sold in the region rather than being exported back to their country of origin, and so there is a high concentration of relatively young first-hand models available compared to major second-hand car markets. Due to the country’s rapid economic growth in recent years and, importantly, the unique structure of the second-hand car market, the second-hand prices of most cars may have become quite high compared with similar second-hand models in other countries.
Dubai, as with some other markets, attracts large percentages of expatriates working long-term in the region. This high proportion of employed expats leads to high GDP per capita, directly available income for expatriates as well as high disposable income within companies and high executive salaries. This tends to bias the car market towards luxury or top luxury models. Expatriates also spend relatively short lengths of time working in the region and thus carry with them tax-free buying within the country for the period of their assignment.
These two factors combined with the high level of disposable income have a direct impact on the cars they are prepared to purchase. However, sales are still affected by the highly mobile nature of expatriate recruitment.
In reality, negotiations become so convoluted that, in many cases, the dealer will often struggle to contain costs while the dealer’s influence over price becomes noteworthy. This can lead to serious consequences to the dealership as the owners’ profitability becomes affected.
Those manufacturers that adapt and recognize dealer influence over margin through managing the challenge of the high fixed costs show significantly higher profits. Of course, factors such as the ability of the brand or model to generate interest, low inventory levels, the individual status of the vehicle, and discretionary flexibility may affect the ability of the dealership to achieve the necessary margin. This is particularly intense when the manufacturer or importer attempts to prolong the lifecycle of their models while the dealer would prefer an earlier update of the product.
Range Rovers are recognized as premium luxury brands in Dubai and the Middle East and allow dealerships to achieve a higher profit margin compared with mainstream brands. Experienced dealers understand that the three most significant drivers of profit are demand, barriers to entry, and supplier money.
At the same time, experienced manufacturers and suppliers understand that power is derived from physical capability and financial strength. It is in the best interest of both the dealers and the manufacturer to work towards creating a successful business model in which all the stakeholders (investors, partners, suppliers, employees, and communities) prosper.
In particular, it is expected that large car dealerships and world-famous name car dealerships have the advantage of maximizing their profit margin without having to offer these extra services, since they have well-established customer service.
Consequently, a significant percentage of profit share moves from dealer margin to the selling price of the car. This becomes extremely visible in cases where a particular model is only sold in these large car dealers who eventually use the customer service as a right or by a specific legal exclusion of other dealers for other regions.
Dealer profit margins – This is one of the most influential factors in Range Rover price determination in Dubai. Although there is no legal maximum or minimum, there are certain generally accepted ranges in the market.
Factors such as the current state of the automobile market, the exact demand and offer position for each type of vehicle and the specific model, the customer service of each car dealer, the exact relationship of each dealer with the local agent and the agent with the manufacturer, and many others directly and indirectly influence the calculation of the cost price, and thus the profit margin of the dealer.
Some extra services that can be offered and increase customer service can be under the form of free annual service, insurance or warranty policy, etc.
These extra services usually vary depending on the demand and offer situation, the exact model released from the manufacturer (each release is different from the previous), the behavior of customers, and in general the exact state of the market.
The specifications of your vehicle are an important component in the price negotiation process. If you have high specifications and fully equipped vehicle, you can expect the purchasing price of the vehicle to be relatively higher.
In the new ones, you are looking at retractable side steps, user-friendly infotainment system such as touch screen and more. However, there are basic specifications that must be present in the Range Rover you are going to buy.
These standard specifications include standard LCD display, 19-inch alloy wheels, etc. In terms of pricing, a used model of the same make and model will be different due to the inclusion of different specifications and equipment over the model years.
The biggest group of Range Rovers worldwide are kings.
They need to act like one. This is why they are full of special driving and comfort features. Most Range Rovers will have things like cruise control, climate control, powered all that, navigation system and Alpine entertainment system.
Range Rover Vogue comes with the option of choosing the wheel size. The standard and cheapest options are 20 inches, followed by 21, then 22, and ultimately 23 inches.
The larger the rim, the better it looks, and the more expensive it is. The body also has lots of customization options such as color, extra packages, the special look, and unique compartment body kits with aero kits, body kits, trim and chrome pack wheelsets, and the sidestep accessory kit will also cost a bundle extra. Pedals and other interior book options can also be settled, and they are equally as costly.
The Range Rover Vogue is a high-priced vehicle, but still, the prices tend to vary widely while maintaining original parts and specifications. The wide variety in customization options and price is a super luxury, so one can free their mind about the payment being spent.
Some of the standard options include wheel size and customization, body color, pedals and other interior customization, auto prefixed kit, and limited editions. The price attached to all these available options is through the roof, so one has to choose wisely before buying the desired Range Rover.
The RTA has installed a number of dedicated electric vehicle (EV) charging points at public parking areas, and one at each of the main RTA service centers in Al Barsha and Deira. There are also charging points at selected locations such as petrol stations and selected DEWA sub-stations.
To know more location details and how to use them, visit the Public Charging Services in Dubai section.
To improve the quality of Dubai’s environment by reducing emissions from vehicles on Dubai roads, the RTA has made it easier for drivers of hybrid, electric, and low-emission vehicles to apply for and purchase a Salik tag at a reduced cost. Dubai, to further its commitment to environmental responsibility and energy conservation of clean energy vehicles, facilitates charging facilities for these vehicles at locations across Dubai.
The UAE government supports hybrid vehicles through a number of exemptions from taxes, such as registration, and enhanced driving lane privileges throughout the UAE. The vehicle excise duty for registration is halved for hybrid vehicles and they are allowed to use the bus and emergency lanes throughout the UAE.
The requests for environmental issues are growing more and more. Enhancing positive environmental benefits by improving satisfaction and promoting safety, education, and culture is one of the functions of the company. The expectations of the stakeholders concerning socio-environmental practices have an indirect effect on the image of the property.
For consumers and financial institutions, it can actually stimulate the estimation of a company that uses green criteria. In both cases, the use of strategic methods increases company value. If a company is unable to respond to unfulfilled stakeholder expectations, it is required to compete and win without regard to costs with regard to law – not only at the stage of production but also throughout the entire value chain.
The demand for a cleaner environment represents an important social constraint. This refers to the property rights and privileges of government and civil society to establish regulations and incentives to solve these problems. The concept, called eco-efficiency, distinguishes environmental management from social environmental policies and focuses on solutions to enhance positive environmental benefits or reduce negative impacts by making use of such policies. When this is the case, the company is not blamed for the environmental problem.
Familiar topics in this category are the way in which the management system can improve the environmental management, possibly including the environmental cost, and the role of the environmental management in today’s organizations and the examination of its value.
The Range Rover is among the most luxurious SUVs available in Dubai, with ample space, high-quality materials, and lavish appointments. As a member of the Land Rover family, Range Rovers are expensive cars due to their technological prowess and well-crafted cabins. Nonetheless, the Range Rover reputation and cost might vary.
In Dubai, consumers can have a pullback from the motor vehicle’s noteworthy high starting price tag. Even though there are many people driving Range Rovers, the price is still costly. The reputation of the Range Rover varies from inexpensive to most luxurious, influenced by these elements and based on a wide range of other influences.
Consequently, analysis of the factors that influence prices is critical for the company to stay in business. Companies must cultivate strategies to manage formative price differentiators in order to remain competitive and preserve profitability. This study seeks to enhance the body of knowledge regarding price determination by evaluating Range Rover models sold in Dubai and how they are influenced.
Range Rover prices in Dubai are variable based on various factors. The purpose of this report is to explore the factors that influence Range Rover prices.
Since this car is a luxury car and has many features, it is important to know the economic, consumer, environmental, legal, and social factors that influence Range Rover prices.
We used different sources to obtain data and information and found consumer income, reputation of the car, the cost of adding safety features, and control over pollution as the significant factors. Thus, as Range Rover is considered a luxury car, it is easily influenced by external factors.
No research has previously considered this car’s variable prices. This study on the factors that influence Range Rover prices could contribute to consumers having a wider perspective prior to purchasing this type of car, not only from the quality of the car but from a comprehensive perspective that may influence car prices in the future.
Summary:
In Dubai, where the average used Range Rover is less than 4 years old and has notably less than 100,000 km on the clock, both the engine size and interior color may also affect the price.
Upon closer inspection of the BMW effect, it turns out that only light trucks respond to such minute differences in build year.
Use models, the reduced motor capacity is compensated for by an otherwise equally high price. The prospective Range Rover customer pays not only for the British brand, but if he or she is drawn to a particular build age, he or she is also willing to pay the premium for an interior in a fancy color.
When comparing the factors involved in influencing the used vehicle price of other luxury SUVs in Dubai, i.e. Toyota Land Cruiser, Mercedes G-Class, Porsche Cayenne, Land Rover Range Rover and BMW X5, we found that the make, used age in years and engine capacity in liters remain influential and thus common factors. Surprisingly, no significant effect due to the body type could be observed and the relationship between the model year and price does not appear to be linear.
In contrast to luxury cars, light trucks seem to gain less in price the older they are. Interestingly, not only the mileage fails to show a contrasting as well but it has become clear that more influential mileage increments are very small. We believe that the main reason for particularly low R-squared values in luxury cars is the limited range of depreciation for used cars in the data pool so that almost 90% of the used cars show hardly any notable variance.
Everybody enjoys the feeling of saving on expenses. Discount car rates mean that luxury cars, such as the Range Rover, are more available to the masses. All-terrain models enjoy a favorable reputation.
With luxurious leather interior, parking assist devices for flexible city travel, and state-of-the-art driver information and security monitoring, these 4x4s stand out for buyers of the premium segment.
In partnership with a variety of Dubai banks, on the other hand, you may also get a purchase offer. Like all price-driven searches, timing of sales comes into portion and you never knew how much you might have to plan on your own.
Seasonal discounts include clearance sales after a new release. Vendors may also clear their stock to create more space for new inventory or to liquidate a rare buyer item. During such times, you could hit new deals if you are the early bird.
Online advertisements on the website are a great way to achieve such information. In case you spot an advertisement showing the Range Rover price is discounted, you need to visit the showroom on the first day of the discount. Welcome to the official showrooms of the Range Rover sellers in Dubai. Join the hot shopping spree!
If you are purchasing a Range Rover in Dubai but are concerned about the high prices, there is definitely some additional good news. Be sure to take advantage of any of the factors previously stated that could help you get a significant amount of savings.
Buy from a less popular dealership, recommend a less popular color and variant, negotiate your trade-in and lease terms, especially using the incentives available to you. Range Rover Dubai Muslim Town certainly has a good range where you can find your perfect car if you use these practices. By following our previous instructions, you can take further advantage of our huge information to get a fair price and come to see what we have to give.
Range Rovers are stunning vehicles in different ways and some of the best dealerships now in Range Rover Dubai town.
The ninth key factor that influences Range Rover Dubai prices is year-end sales events. Throughout the year, but especially during year-end sales events, dealerships often organize special, limited-time sales events where consumers can get exclusive deals on many models. This is a perfect opportunity to take advantage if you plan to buy a car at a specific dealership.
To ensure that they are not affected by slow months, dealerships where they sell fewer than they would prefer to offer special sales events. This will allow you to get your dream car more affordably in the market of your choice. After all, who would want to ignore a discount opportunity on the car of their dreams?
Before taking smart investment choices, drivers are allowed a complete Range Rover test. Land Rover’s certified pre-owned program provides you with a feeling of security when placing your investment in your driving pleasure, with complete satisfaction.
The 1-year service plan ensures optimum consistency and results of your vehicle, while it keeps the high-quality and high safety performance. It also offers a complimentary roadside assistance package with free services. The roadside assistance package at Range Rover is necessary to cope with the probability of unforeseen failure situations on the road. The first Jaguar and Land Rover vehicles for consideration under the program and meet specific requirements are selected.
The Certified Pre-Owned Program allows customers to buy a Range Rover in Dubai at a lower price. The Land Rover certified pre-owned program is applicable to models that are less than 5 years old and have traveled less than 120,000 km.
The cars have gone through an examination of 165 points and passed successfully. With a 1-year service and free Roadside Assistance, customers can expect the same sense of quality that is found in a new Land Rover. The 2-year warranty unifies your luxury driving experience. Materials used in the car are carefully hand-picked, with range-verify features.
It’s designed to make your Land Rover ownership experience even more enjoyable, complementing the three-year unlimited mileage detailed on your vehicle. If the vehicle has an existing warranty from the manufacturer, the Vehicle Protection Plan starts immediately upon expiry of the vehicle manufacturer warranty. The interior and exterior of an authorized car are often inspected to ensure that the standards are met for factors such as wear and tear.
Typically, these inspections include a several-point check to examine the condition and history of the vehicle, complete a road test, document and inspect the entire car. If you want a newer Land Rover with up-to-date standards for comfort, convenience, safety, and more – but do not want to spend money on a brand-new vehicle – choosing a certified pre-owned model is a wise decision since many pre-owned vehicles are available with advanced options that may not be offered on new cars.
You can save a considerable amount of money, as new cars can depreciate as much as 40 percent in their first two years. When you buy an authorized pre-owned car, it will have gone through a long list of checks to assure it is our most thoroughly prepared pre-owned car – and it is certified to a standard higher than other pre-owned cars.
Each certified vehicle has several related services available, including a comprehensive warranty, 24-hour roadside assistance, fully transferable benefits, a complete vehicle history report, and more. Premiering today, our Vehicle Protection Plan offers the most comprehensive extended warranty available for your Land Rover.
The premium segment SUVs are loved by many, and they can be an affordable option when you buy pre-owned. An authorized pre-owned luxury car can offer a mix of quality, trust, and value, which you may look for when you buy a pre-owned luxury car. The benefits listed here are considered according to luxury car brands, especially for Land Rover as well.
There are numerous external factors that influence the price of the vehicle. It is possible for buyers to take an essentially brand new Range Rover and utilize the car while making artistic alterations and thereby avoiding the significant price drop that is nearly inevitable once an automobile leaves a new car showroom.
Range Rovers usually receive a high return value as they are in increasing demand in Dubai. The preceding ownership records are usually associated with the success, profitability, and dependability of the car. The heritage of the Range Rover brand speaks volumes while displaying elegance, toughness, and business capability.
In a region like Dubai where temperature conditions can damage the vehicle, preceding ownership records provide the guarantee of the car’s durability against the flaky nature of the physical surroundings.
In Dubai, Range Rover vehicles have a high resale value. This is primarily because of the brand value associated with the vehicle, as long as the vehicle can be proved to be maintained well.
The vehicles which are good to look at and provide good service on the road naturally attract buyers in the region. Buyers in the UAE are very much aware of the various components which play a role in deciding the price of the vehicle.
Range Rover vehicles bear a hefty maintenance cost due to the use of expensive and elite quality parts. All luxury vehicles have a high repair and maintenance costs, while Range Rover is no exception.
These luxury segment vehicles need to be attended to with extreme care and attention. With more advancement in the intricacies of the automobile industry, the Range Rover maintenance costs also increase.
One key thing to remember with any luxury vehicle is that you will pay a premium for the purchase of the vehicle initially.
The lower cost Range Rovers will start out in the mid $60,000 range and quickly soar to above $90,000 for a Range Rover HSE model. It should be no great shock when the cost of replacement parts reflects this trend. The parts for the Range Rover can be very high if one should always return to the dealership to replace these parts.
These high-end estimates are just a part of the perceived higher costs associated with the higher end. Getting the systems professionally serviced on such vehicles is also much more expensive. If aftermarket mechanics are used instead of the dealership, the hourly rate is still quite higher. Such mechanics are provided with the proper tools and technology to diagnose most or all of the issues immediately. They are also expensive!
It’s no big secret that Range Rovers may cost considerably more to maintain than many of their less expensive counterparts, and this is a problem that just got considerably more complex when they added the Range Rover Sport to the lineup.
With a lower weight, some of the BMW and Mercedes Benz designed engines, and virtually the same trim level, these are often driven harder and more harshly than most Range Rover versions. So it is with dismay that when one discovers that many who own, or who would like to own, such a vehicle would hesitate to do so out of fear of the cost to maintain such a vehicle.
What we will outline among the following pages is just how the range of different levels of cost could be stated, what strategies could be used to lower that cost, and by doing so, ultimately increase the level of satisfaction that you have in owning and driving that vehicle!
Unlike in certain developed countries of second-hand car dealers, all cars in Dubai run on a depreciation rate which will force an upgrade to newer and safer models.
High-end car repair personnel and spare parts may present a drag on the quest to repair your Range Rover after an accident. Although Dubai car insurance and damage repair service packages have been created for this customer segment to prevent this branch from affecting demand.
When car insurance is high, it affects car prices downwards. Conversely, low car insurance coverage leads to a higher cost of a car. In Dubai, car insurance premiums are determined by the car’s perceived risk. A perceived higher risk on car insurance naturally translates to higher premium rates.
Deductibles and the coverage provided in the car insurance package also affect car prices. Although when it comes to a Range Rover owner, Dubai insurance companies have packages tailored to the tech features, maintenance, spares, cost of repairs, and custom car designs that are a peculiar feature of most Range Rover vehicles.
The importance of these risk factors to insurance costs is generally overlooked by vehicle drivers when requesting insurance.
Analysis of these risk factors exposed the fact that while vehicle owners reside and drive under different types of physical and socio-economic conditions, the effect of these conditions is always clearly extended to the type of environment they drive in addition to the types of vehicles they possess. This study provided an opportunity to isolate and investigate the importance and validity of the information about the state of the abode of vehicle owners in both vehicle characteristics, perhaps when purchased and when requesting the purchase of insurance.
The resulting empirical relationships may help provide premium reductions if deemed appropriate. We claim there have already been studies proving the validity or other of information obtained from other means such as socio-economic data sources.
These studies are usually based on econometric models using categorical techniques for both embodying and obtaining testable, reliable, and valid risk information. We use primarily dummy variable models to reflect some demographic influences. In response to validity evidence, which is needed, our work satisfies this concern.
A large number of risk factors or a wide range of values in risk factors contribute to the difference in prices of insurance costs of various countries.
Some factors are of special interest to vehicle owners. Even though some insurers employ a wider range of risk factors than others, commonly employed factors include these and others: sex, age, occupation, marital status (single, married, divorced, etc.), driving experience, geographical area of residence, driving record (accident frequency, moving traffic violations record), type and size of vehicle, primary use of vehicle, annual mileage, the amount of deductible/excess, and in some cases, engine type of vehicle.
In order to insure for non-mandatory types of insurance including comprehensive, extended comprehensive, and collision, one is required to pay higher premium levels. Characteristically, insurance costs are assessed on the level of risk in the areas ascribed to the drivers.
Let’s face it; most people in Dubai have plenty of money to spend yet don’t particularly fancy a loss that depreciating assets bring. Even though the dazzling emirate apartments, jewelry, and cars are all likely to lose value with time, it is usually the cars that have often occurred as being one of the biggest offenders. In particular, statistically motor vehicles decline anywhere between 15% and 30% of their original value in the first year following acquisition.
Hence, a car worth $80k new could end up being worth only $56k after just a year has passed. According to a recent Lease Guide, no car is capable of remaining worth any more than 50% of its initial acquisition price after 3 years of usage.
With electric cars now approaching the 400-mile mark with just minutes being needed as the recharge time, the situation is becoming even more complicated.
Residing in Dubai is certainly fascinating. With one of the world’s strongest economies, expats and local residents live a life of luxury and wonder.
What’s even better, car enthusiasts and residents can’t get enough of the variety and price tags attached to luxury cars. One car that captures the epitome of luxury and wealth in Dubai is the Range Rover.
A car that has been in the industry for decades and revered by the royal family of the UAE, as well as other royalty from around the Middle East and the world, Range Rovers are a spectacle to behold. The reason many people in Dubai can’t get enough of them is due to their presence, the latest models, and the endless luxury features they come with.
Despite the wealthy buying brand new Range Rovers from official showrooms, many people are increasingly inquiring about used cars.
There are many factors that influence the prices of Range Rovers in Dubai. This includes taxes and emissions, luxury features, manufacturer, model, specifications, color, resale value, and depreciation.
However, this trend seems to be changing. Porches, BMW X5’s, Lincoln NW’s, and Jeep Grand Cherokees have all entered the Dubai pre-owned car market with a bang. All of them are starting to command very high resale values. The latest entrant is the BMW X5. Almost the same race as the Range Rover, maybe slow on heavy sand due to its street tires, but more maneuverable in other ways. With more luxury, more elbow room, a 4.4-liter increased performance engine, and mind-blowing gadgets, this X5 has quickly found its way into the hearts of the Dubai residents. What the exact future holds for the Dubai market can only be speculation. However, one thing is clear; Dubai car dealers have started to experience difficulty in selling the Rangie, an experience captured by Range Rover Owners in the UK and the USA earlier. With prices stagnating and differential having increased to 3k to 4k, large sources claim that prices can only fall. It would be interesting to see how things turn out.
In Dubai, Range Rovers have been traditionally known to command extraordinary resale values, sometimes going for as much as 80% of their original selling price, 2 to 3 years down the line. The Dubai Range Rover prices had differentials of only 1000 to 2000 AED’s for similar models having fairly similar mileage and features. This 1000 AED difference can easily be more than that by the owner’s preferred financing institution.
The well-established tradition of wealth accumulation in the UAE combined with the fast economic upturn and the strong interest of oil-producing economies in the local rial has reversed the export flow. The newfound wealth has, in fact, boosted the demand for luxury goods. This has compelled a number of luxury vehicle manufacturers to establish exclusive dealerships and trading zones where these vehicles can be sold. Even with the shift in economic activities, the focus has been on trade liberalization and diversification, all aimed at reducing the state’s reliance on oil revenues, which still represent a huge portion of its state earnings. Reflecting this shift, the global market for premium automobiles has grown at superlative rates, particularly in the sector for super-luxury SUVs. Consequently, market expansion in the luxury market is translated as a rise in the Range Rover prices.
The consumer market in the UAE is quite distinct as luxury vehicles and supercars are seen essentially as the norm. This, in particular, has created a durable market and dramatic demand for the Range Rover. This demand may be explained by the perks that are enjoyed by the Range Rover owners. The attributes that the consumer requires have a direct impact on the prices that these buyers are willing to pay. Accordingly, it is essential to understand consumer preferences as they define the key choice processes at work. Ultimately, consumers are usually looking for features that appeal to them, including conspicuous features in their price ranges. These aspirations and fixed budget constraints actually help determine an individual’s purchase intentions.
The Range Rover is already prestigious and expensive. A standard Range Rover Supercharged can cost as much as half of a nice house! But the true aspiration cost of a full blown, heavily customized and blinged up Powerhouse version of your beloved Range Rover or Range Rover Sport just doesn’t bear thinking about! Unless you are a true Powerhost. Then it seems that the sky is the limit. There are quite a few ways of customizing your Range Rover. You can go the whole hog and specify one with extra luxuries such as extended polished wood gear sticks, polished doorsill treadplates, exotic leather, polished wood and stainless steel steering wheels, Armrest Coolers and fridges or one of the 2XV Personal Telephone Integration System and a Vision Assist Pack with black door mirrors and black lamp inner. Different batteries and discs are available. And, of course, the truly dedicated Powerhosts won’t settle for less than a set of carbon fibre style door mirror covers!
A lot of attention these days goes into shaping the evolution of the highly popular Land Rover Range Rover and Range Rover Sport. A number of special features and upgrades are becoming increasingly popular with their owners. This is a luxury vehicle. Building status is an important aim for many of its owners. You want an individual vehicle, not just a run of the mill model. You want a vehicle which will set you apart from your colleagues and friends. And they are prepared to push out the boat in order to achieve this.
Given the continuous increase in the price of oil, increase in population levels, and the changes in geopolitical and economic policy, the price of oil and variants of the price of oil are to stay higher, and this will continuously increase the wealth of certain countries. Such factors are predicted to be responsible for supplying a high level of demand for luxury items such as Range Rovers, which is sensitive to some of the changes in oil prices and wealth of particular countries. Factors that need to be taken into account and their impact on Range Rover prices when setting prices are as follows.
This study outlines how various factors influence the price of Range Rovers in Dubai. The supply and demand conditions, inflation rates, other motor industry prices, size of the Range Rover market, general business conditions, foreseeability of cost changes, capital costs, and tax regulations have been tested and verified in this study. Furthermore, the significant impacts of economic factors on the price of Range Rovers have been identified and shown.
For example, a finance company has relied over the years on specialist “desk researchers” to forecast future values of leased vehicles. With the move to the internet and the wider availability of information, there is a trend towards providing market forecast services in-house. Requirements are information on market behavior as well as suitable modeling techniques that can explain and forecast resale price variations. Results of modeling and how they might be used in the planning process are also monitored at the cost planning. They need to decide on a sales pitch in quotations and at contract negotiation meetings, or to compare performance forecasts with pay-back calculations in an operational leasing setting.
There is an overwhelming amount of data available on the used Range Rover market in the UAE. However, the challenge is to decipher it so that accurate market forecasts can be provided. For example, finding meaningful price trends is not an easy task, which can encompass defining future occurrences, summarizing present data characteristics, and developing models. The use of models is a must in today’s complex world of supply and demand. Simply put, if a business organization is not providing more and better information than its competitors, it will quickly lose their business. Rapid access to accurate market price information is vital to decision making for any business, more so for risk management.
