Copart, a leading online re-marketer of vehicles, announced that, while the Emirates Standardization and Metrology Authority (ESMA) will begin to implement new regulations for auto imports, Copart has received assurances that ESMA does not plan to ban the import of all used or damaged vehicles.
Copart sells more than 2 million vehicles per year globally with 180 facilities around the world. A significant number of its vehicles are imported to the UAE, which has a thriving vehicle trading industry. The market has grown very large in scale, and the need to ensure correct quality of vehicles is important. Copart plans to work with ESMA to clarify whether new regulations would improve safety and quality while limiting the economic impact on traders.
Copart noted that ESMA aims to ensure that only vehicles deemed safe can be registered, make sure vehicles imported for the sole purpose of re-export will not be affected, and classify vehicles into clear categories that will help consumers choose from available inventory. Additionally, it wants to provide a platform for local consumers to check online to see if a certain vehicle can be registered in the UAE or not.