Ali Pacino, the CEO of F1rst Motors, explains how the glamourous hypercar showroom in Dubai was born. From Bugatti Chirons, Lamborghini Venenos and Ferrari LaFerraris to name but a few, F1rst Motors is home to some of the rarest cars in the world.
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#luxurycars #supercars #f1rstmotors
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NewsTranscript
00:00It was a hobby.
00:05There was a frustration that we couldn't be well served or we couldn't find what we were
00:11looking for specifically.
00:14All this started by scouting cars in Europe from sources, friends that we had, all went
00:20from there.
00:23I started bringing a couple of cars and then the cars that we didn't want, we started placing
00:27them into the showrooms and we saw a huge demand for that.
00:30And the cars we were bringing, the specs we were bringing were also more unique than other
00:34showrooms.
00:35Other showrooms, they take less risks actually when they want to buy cars.
00:40They don't go into big cars because they like to be in their comfort zone.
00:47We buy the cars as collectors.
00:49We buy the cars as we buy the cars for ourselves as collectors.
00:53And all of them are uniquely specced, individually specced, that this obviously reflects into
00:59the showroom.
01:01We always like to push ourselves.
01:03We like to push the limits.
01:04We like to be the best.
01:05We like to bring the best cars.
01:09That's where the name originated also from, First Motors.
01:12We wanted to bring the first cars anywhere in the world to Dubai, to the UAE.
01:17Because Dubai is all about being number one and we needed a showroom to reflect that.
01:26We only have 92 spaces on the showroom.
01:30Our market segment is actually different compared to other dealers.
01:34So everyone has to actually focus on their own segment.
01:37We've decided to go for the ultra luxury segment, high-end collector vehicles.
01:42We like to have a variety for all kinds of clients.
01:45It's not only the very expensive ones, but you do have cars that are for 500,000 dirhams.
01:53That's the cheapest, I would say, over here, which is not so cheap.
01:56And the most expensive that we had was 40 million.
02:02All of them get checked from the official dealers.
02:05So for example, if we do have a car from Ferrari, they do go into Ferrari, they get a conditional
02:09report from Ferrari that the car is basically clean.
02:14Most of the collector vehicles that we have, they do come with a classy shape.
02:17So this is a certificate certified by Ferrari that this vehicle is a good condition car.
02:23Basically, all the history is there.
02:28The reason clients come to us is because there is a lack in the market, because the dealers
02:34are actually sold out.
02:36So we buy the cars from the market and we resell them.
02:40If you don't want to wait, you come here, we give you the car.
02:43Obviously, if you have the patience, if you want to wait for one or two years, you can
02:48go to the official dealer.
02:51We always keep our word.
02:53This is very important, to honor your word.
02:55Whether you lose or you gain, to honor your word.
02:59If you do a business that kind of a way, our policy is about maintaining relationships
03:05and expanding on that through word of mouth.
03:08What we believe in is that high-profile guests, obviously with our kind of cars, have high-profile
03:14friends also.
03:15So if they have a good experience, they go and they bring their friends back.
03:19And that is what's happening over here.
03:25Most of our cars are high-end.
03:27There is a huge market, especially in the collector field.
03:30The collecting culture didn't really exist in Dubai.
03:33You don't have a lot of these collector vehicles, people taking risks to buy these cars.
03:38But you do have a lot of expats coming here now, and they are huge investors, so they
03:41are buying cars here.
03:43Now, to control the supply, obviously it would be good, because most of these cars are located
03:48in Europe.
03:49We are planning to actually expand into Europe, possibly Germany soon.
03:55For everything, there's a market.
03:57There's a market price.
03:59You gain when you're buying.
04:01That's when you're winning, not when you're selling.