The car rental business in the UAE is extremely competitive. What is SelfDrive’s USP in this regard?
At SelfDrive Mobility, we’re focused on building the region’s largest car rental platform and expanding various mobility services to enhance access and convenience for our customers. What this means is that the majority of our fleet is sourced directly from our partner dealerships and car manufacturers, ensuring both variety and reliability. The convenience factor lies in our fully digital platform, which allows customers to seamlessly book a vehicle in minutes starting from as low as one day and going up to 36 months, and their car delivered at their doorstep in three hours.
A key differentiator for us is that we operate on a completely asset-light model, enabling us to scale rapidly across the market. This approach not only fuels our growth but also supports local dealerships and car manufacturers in expanding their presence.
Regarding our unique selling proposition, another major advantage is that because our cars are directly sourced from dealerships, they are 15-20 per cent more affordable than those offered by traditional rental companies that own their fleets. This cost efficiency is directly passed on to our customers.
How do you see the sector growing?
The global car rental market size was valued at $150 billion in 2023 and is estimated to register a CAGR of over 7 per cent to 9 per cent between 2024 and 2030.
On its part, the UAE car rental market size was valued at $950 million in 2023 and expected to surpass a net valuation of $2.20 billion by 2030, registering a solid CAGR growth of 12.9 per cent during the forecast period. Driven by factors such as rising travel and tourism, population growth and a massive paradigm shift toward on-demand mobility.
SelfDrive Mobility intends to be the market leader in the region showcasing strong tech driven solutions, as it is backed by a consortium of car manufactures and local car dealerships, adding to the native growth of the economy via its cross-border mobility services.
What are the trends you see influencing the sector?
As for industry trends, we’ve identified several key factors. First, the cost of vehicles is increasing. Second, interest rates are currently high. Third, more people are choosing to invest in real assets, such as property, instead of vehicles, which are depreciating assets. Additionally, many consumers are shifting towards on-demand services, preferring to drive the latest models without the long-term commitment of ownership. For example, in the wake of recent floods, many people who lost their cars have opted for on-demand rentals rather than purchasing new vehicles.
How do you envision SelfDrive’s growth story and what would your personal contributions be to this narrative?
In terms of our vision for SelfDrive Mobility, we aim to become global leaders in the mobility sector. We are already operational in 10 countries, offering seamless cross-border mobility solutions. We were the first company to introduce one-factor authentication for documentation, allowing users from the UAE to rent cars across our entire network of countries with ease. This facilitates convenient cross-border travel, especially for those on holidays or business trips.
Personally, my contribution to this narrative is ensuring that the entire industry thrives, creating a winning ecosystem for manufacturers, dealerships, and customers alike.
