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D'Youville College, Buffalo ​good afternoon professors this is the team UAE presentation our idea is the direct import and sale of cars into the UAE the team consists of mohammed Kadre Prashant jayachandran sukanya madhavan and John Thorpe our product idea is importing used cars from the United States and selling them directly into the UAE we will sell them through a company that is established within the UAE and through online sales directly to customers within the UAE our overall idea or motto is quality cars at affordable prices the current scenario as it exists is that a u.s. dealer buys a car from auction in the United States they will add a thirty percent profit margin and then sell and ship it to a UAE dealer that dealer will add another thirty percent profit margin before finally selling it to the customer within the UAE this means that a sixty percent has been added to the original purchase price of the car within our proposed scenario we will cut out the middleman we will buy the car directly from auction ship it to the UAE through a supply a shipment supplier and then add forty to fifty percent depending on costs the profit margin before we sell it to the client this will mean a cheaper car for the final client and that will allow us to break into the market and take some of the current customers away from sellers within the UAE our target the current trends within the UAE are that three of the top five selling car models are SUVs trucks or off-road vehicles and the UAE has been one of the fastestgrowing markets for new and used car sales and new car sales in the UAE are at a higher price point than in surrounding countries this has caused a gray market to form which means that customers have been able to buy cars from outside the UAE which were imported and registered illegally within the UAE because of these considerations used cars has been a very fast growing market within the UAE up to fifteen percent per year our target vehicles would be the SUVs trucks and off-road vehicles we would also look to bring in custom cars and modded vehicles these we would sell directly to high-net-worth individuals to help build that relationship the rest of our target market would be the affluent upper middle class with disposable income in the UAE the benefits and considerations we will eliminate the middleman this is going to save ten to twenty percent for the final customer within the UAE that profit margin we will still have a high profit margin for ourselves but that ten to twenty percent goes directly back to the customers for cost-conscious customers within the UAE this means that they will be more prone to buy cars from us than the current competition that sells used cars in the UAE some of the considerations are that we need to import cars from the southern US states the reason for this is that the extreme cold temperatures in the northern states would cause cars that we import to the UAE to possibly malfunction moving from one extreme temperature to the other can be very difficult for these vehicles we would not want that because that will damage the relationships we hope to build with the customers in the UAE we would also look to change the tires on the cars and change certain parts that would be affected by the movement from one temperature to the other we would do this for two reasons as I said it would help build the reputation and the the clientele that we're going to have as well as it would help us build certain relationships with suppliers that operate within the UAE and building these relationships is going to be key to our success currently in the market overview the UAE has a 2.5 billion dollar used car market that's growing at about fifteen percent annually about five percent of total imports within the UAE our cars right now there's a huge growth market here and there's a huge amount of money to be made in the used-car market also nine million used cars are traded in auctions every year in the u.s. this is especially prevalent as a lot of dealers will buy back used cars from customers to in order to sell them new cars if these used cars are unable to be sold they will be sold at auction and moved off to other countries we hope to operate within these auction markets and to buy quality used cars that only lightly used and then ship them to the UAE our market and branding approach we hope to go with a subsidiary approach that means we will operate mainly within the United States but have a local subsidiary in the UAE that sells our cars we will be selling mostly passenger cars SUVs and trucks and we'll be looking to sell to the luxury segment the individuals who can afford higher-priced cars even though they are used cars they'll be lightly used other considerations in this market the tariffs are only five percent for cars and twelve percent for trucks this is a relatively low tariff so it's easy to get into and operate within this market there's no v80 or value-added tax and no luxury tax on these imports which keeps our costs down it allows us to concentrate mony mainly on the custom duties and the shipment and operations costs the trade policy within the UAE is very consistent with the World Trade Organization obligations that is also better for our approach to operate within the UAE many things are done with in UAE with personal relationships building these relationships it's going to be key for us as I said we'll build relationships with customers and suppliers but we'll also need to build relationships with local government officials our awareness approach will be an online marketing
approach as well as operating in trade shows Auto trade shows are a very active part of the UAE auto market we will also consider the carvanha approach carvanha is currently a system in which individuals are able to buy cars and have them delivered to what is essentially a large vending machine customers can pick up these cars at this vending machine directly when they've been ordered this allows for reduced costs to the car seller because they don't need as big of an operation with as many people there this will be one of the possible ways in which we decide to sell cars finally we will have retail locations and individual service but this is another option to offer some product different ation to get into the market the trade-off analysis is for us was between direct sales and import through agency now direct sales has some higher costs especially initially we lack the local cultural knowledge and we don't have the existing customer relationships because of that we would sell less originally but over time and building these district and building these relationships we would wind up having a higher profit margin we would also need to build our own retail location with our own branding and sales that's going to have some high initial costs over time that also will pay off we considered import through agency where we would buy and import the cars and then sell them through an agent within the UAE by doing this we would already have that local knowledge and relationships built in but there the additional cost through paying with the agent and we would never develop over time the local cultural knowledge and relationships so the opportunity cost of eventually building out this this business and spreading throughout the UAE would be lost we believe that that lost opportunity cost is too high so we would rather have the initial high costs of the direct sales method SWOT analysis the strengths are it's a very favorable market for us to sell cars it's a growing market and consumers have high disposable incomes right now the banking industry is very strong in the UAE that means there's very good access to vehicle financing as well also UAE customers are very price conscious and they're also very technical tech savvy this means that our online approach would be very strong there some of the weaknesses are regulations are very favorable to owners that are within the UAE a competition is very high one competitor selling a car calm they buy any car within the UAE they then sell those cards at very cheap prices to other used car dealers within the UAE we would either have to establish a relationship with them to buy some of their cars or be able to undersell them with our purchases from the US opportunities within Abu Dhabi they're building out something called auto city that is going to be a very big auto and trade show we would need to be able to make our presence known within auto city that would allow us to have very active presence in the market now if we decide to work the carvanha approach and have car vending machines this would be another strong opportunity for us it would be a distinctive feature within the UAE it would get us a lot of local recognition there's also be an increased need for different types of parts to work with these vehicles that's gonna be an opportunity for us to build a lot of good relationships with suppliers in the UAE some of the threats changes and regulations are our big threat increased public transportation will be a threat for us and low switching costs for customers we need to keep our price point beneath the price point of local competitors in the building out phase that may be difficult because price wars could ensue Porter's five forces analysis the threat of new entrants is high the bargaining power of the buyers the our customers is high and the existing competition is very high these are areas that we have to really focus on the bargaining power of suppliers and medium and the threat of substitutes is low so threat of new entrants there's very few legal barriers to prevent new companies from entering this market while there are high original capital costs and low profit margins that won't deter new entrants because the market is growing so heavily over the years and there's a lot of money to be made there the threat of substitutes isn't too high public transportation is available but because of the extreme temperature conditions when the youth within the UAE and the available income a lot of individuals do want to own their own vehicles existing rivalries is a large and mature industry there's a lot of rivalry for selling used cars there's not a lot of people a lot of particular sellers but those sellers already have built in relationships we believe that our distinctive features of low pricing parts made specifically for the UAE being able to sell you a u.s. cars that they would that customers are looking for and possibly selling through more online and carvanha type selling structure would set us apart our suppliers because there is a large base of used cars within the United States it's not a very high threat for us and we would have the advantage of buying directly in the u.s. because we are a US company the bar the buyers have the most bargaining power it's a very very low cost for them to switch from one used car seller to another we need to set ourselves apart we believe our distinctive features really help to set us apart from other used car sellers but the biggest feature is going to be cost we need that we need our costs to come in lower than other car sellers we believe that our approach by being able to remove some of that profit margin markup that will give us an original advantage but we will need to be able to move that that price up and down depending on what the market forces how they change the pest analysis politically the UAE is very strong and stable country each emirate has their own particular strengths economic it is a very large economy is growing year-over-year banking is very strong in the UAE and GDP has increased 5% in 2013 social-cultural it's a very reliant the financial stuff is very reliant on oil the price of oil can have a
lot of influence on the way that consumers spend Islam and Muslim is the the an Islam of the strongest religions so one consideration is we cannot import cars that have parts that are made in israel that is something that cultural knowledge we need to be very aware of the legal system there is a free trade zone so we're allowed to have a hundred percent foreign ownership there are friendly laws to local businesses as well but there is a mixture of islamic and civil law that we need to be aware of during our operations a risk assessment government risk score is moderate there's a lot of debt that the government is responsible for geopolitical risk because of general uprising in the uprisings in the Arab world there is a moderate risk to to politics within the UAE the currency risk currency risk is not very high there could be currency fluctuations but it is pegged to the dollar banking risk is lower there has been a lot of enhanced banking regulations and am l regulations so the banking risk is relatively low it's diversified economy but it is reliant on oil so there's a moderate economic risk and corruption risk is very low it is a country that has made a lot of progress in corruption so that's a low risk for us overall it's a moderate to low risk assessment for our business we're going to set up the organization as a local subsidiary of a US firm there we're going to have local and US members in the company and we're looking to streamline this process that's really the overarching idea that we have the business model we need to make establish key partnerships partnerships with the US auction houses and with agency agents in the UAE and really our art our most important thing is the value that we're going to offer to customers lower price points and differentiation within the business model we look to hire local people at our retail locations that's going to allow us to build that relationship over time and some of their local cultural knowledge will allow us to have higher sales conclusion this statement says it all the used car market in the UAE is worth about 2.5 billion dollars in business and is growing by a strong fifteen percent annually this means that it's an industry that allows for growth it allows for new competition we think the opportunity outweighs the risk we think that we can build cultural and market understanding as long as we keep abreast of change that we can build and establish local relationships and use technology and innovation to get ahead we look to launch our product as soon as possible thank you for listening Sisters of Charity of New York.
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