How has F1rst Motors evolved over time, and what factors have contributed to its growth and success

How has F1rst Motors evolved over time, and what factors have contributed to its growth and success

Episode Transcript

(00:00):
Welcome back, everybody, for another Deep Dive.

(00:02):
This time, we're taking a look at F-First Motors in Dubai,
a car dealership that is really making waves globally.
Yeah, really interesting operation.
Yeah.
Our sources for this Deep Dive are a YouTube video tour
from Nini's Yilmazer and interview with the CEO, Ali.
Oh, very cool.

(00:22):
So I think our big question today
is how did F-First Motors in just two years
go from sort of like a pretty standard luxury car dealership
to this hypercar haven?
Yeah, that's a really fascinating story,
I think, of evolution and strategic decision making.
The thing that jumps out at me right away
is this incredible growth.
Two years ago, their stock was valued at $100 million.

(00:43):
And now it's at $250 million.
Oh, that's a serious jump.
That's a huge jump.
Yeah.
And it does seem like they've really honed in on hypercars
and rare vehicles.
I mean, looking at their showroom now, it's basically
It's an automotive museum.
Yeah, absolutely.
And they're not just selling cars.
It's more like they're curating this collection
of automotive masterpieces.
You've got the one of a kind, full black, C and Roadster.

(01:04):
They've got a Koenigsegg with actual gold flakes
in the carbon fiber, which that's pretty over the top.
But zero mileage, 918s, just a dream.
It's a car enthusiast's dream come true.
Yeah, it's like they went from cars for sale
to the best cars in the world all in one place.

(01:25):
They always have this focus on this top tier,
this top tier of the market.
Not exactly.
It seems like it was kind of a calculated risk that
led them to this niche.
Ali actually mentioned that they kind of started out
with a broader selection.
But then they brought in their first Bugatti, a Devo.
And that was a real game changer for them.
Oh, I bet.
It's like, oh my god, how am I going to sell this?

(01:46):
Right, but they saw the spark in the hypercar market.
And it really ignited a passion.
And from there, they really deliberately shifted
their entire inventory towards this exclusive market.
And that kind of ties into their motto, the best or nothing.
Absolutely.
That's power.
It really is.
And it's not just about acquiring
these incredible cars.
It's also about the condition, the spec.

(02:07):
And for those who aren't familiar with the term,
it refers to the specific options and customizations
that make each car unique.
And the rarity of the colors, I mean, they are meticulous.
About every detail, ensuring that every vehicle meets.
They're incredibly high standards.
Oh, they're really building a brand based on this exclusivity.
It's meticulous attention to detail.

(02:27):
It's interesting, too, because they even
handle all the maintenance through official dealers.
So buyers don't have to worry about a thing.
Yeah, that's a key element of their appeal,
especially in this market.
You see, these hypercars aren't just cars.
They're investments.
And owning one comes with this expectation
of specialized knowledge, access to these rare parts,
by ensuring that everything goes through official dealers,

(02:49):
F1 Motors provides, a level of peace of mind
that is absolutely crucial for their clientele.
It's like, oh, they're saying, enjoy
the thrill of owning this incredible machine.
We'll handle the rest.
But this focus on exclusivity and this top tier service
must come to the price tag, right?
Oh, undoubtedly.
But it seems like F1 Motors has really deep understanding

(03:10):
of their target market.
Ali talked about Dubai's unique car culture,
how wealth is not just tolerated there, it's welcomed.
And he even mentioned that European buyers
tend to favor more discreet colors.
Well, Dubai buyers, they want those.
Bold, eye-catching shades.
It's fascinating how those cultural nuances play
into their business strategy.

(03:31):
Yeah, it shows they're not just selling cars,
they're selling an experience, a lifestyle.
And they've tailored their selection and service
to perfectly align with the desires and expectations of.
They're very specific target audience.
We're really seeing this clear shift in F1 Motors' approach
over time, from this general luxury car dealership
to this hyper car haven.

(03:52):
What other factors do you think contributed
to this rapid success?
Well, I think that understanding of the Dubai market
is definitely crucial.
But there's more to unpack there.
And their commitment to quality and service
seems to be really resonating with their clientele.
But there's also this interesting aspect of community
and giving back that we haven't even touched on yet.
Yeah, you mentioned that understanding of the Dubai

(04:13):
market.
They really seem to have tapped into something unique there.
Definitely.
Ali described Dubai as a place where wealth is not just
tolerated, it's welcomed.
And there's this sense of security and peace
that attracts these high net worth individuals.
And they're drawn to the freedom to express their success,
often through their cars.

(04:34):
Yeah, so it's like Dubai is this perfect storm.
For a business like F1 Motors to thrive,
they've positioned themselves as the go-to destination
for those seeking the most exclusive and sought after vehicles.
Right, and it's not just.
They're not just buying any hypercar that comes along.
They're incredibly selective.
Ali really emphasized that they only
acquire vehicles that are already in pristine condition.

(04:57):
No makeovers, no compromises.
So no flipping cars.
They're curating a collection.
I guess that makes sense when you're
dealing with vehicles worth millions.
It's more like art collecting than car dealing.
Yeah, it's a great analogy.
And it ties into that idea of providing
a hassle-free experience.
They handle all the maintenance through official dealers.
Remember, in mentioned, how difficult it is to even

(05:19):
manufacture and globally market these limited production
vehicles?
Yeah, these cars are often handmade
with specialized parts that can be difficult to source.
Exactly, so F1 Motors is taking on that responsibility
of ensuring that these automotive treasures are
properly cared for.
It's a huge value proposition for their clients,

(05:40):
especially those who view these cars as investments.
Right, it's like, we'll handle the complexities.
You just enjoy the ride.
But it's not just about catering to the elite, right?
You mentioned something about community and giving back.
Yeah, this is where it gets really interesting, I think.
Ali seems genuinely proud of the fact
that F1 Motors provides for 80 families.
He talked about their commitment to supporting employees

(06:01):
and giving back to the community.
Wow, it's kind of a refreshing perspective.
In a world that often equates success with pure profit,
it makes you wonder if that ethos attracts
a certain type of clientele.
I think that's certainly possible.
By building a brand that stands for more than just luxury
and exclusivity, they may be appealing to buyers
who value those principles as well.

(06:24):
It could be a subtle but powerful differentiator
in a crowded market.
Yeah, and it's not like they're content with just
conquering this hypercar market.
They're already setting their sights on classic and vintage
vehicles.
Yeah, their ambition is pretty impressive.
They're aiming for vehicles.
In the 70 million euro range, they even
mentioned the Mercedes 300 SLR.
That sold for $140 million as a target.

(06:48):
That's venturing into a whole new level of collecting.
Talk about a long-term investment strategy.
But I guess it makes sense.
Considering their focus on exclusivity and rarity,
they're already established as this trusted source
for the world's most desirable hypercars.
So why not apply that expertise to the classic and vintage
market?
Yeah, it's a natural progression.
And it plays into their desire to constantly push

(07:10):
the boundaries, to always be at the forefront
of the automotive world.
Remember, they're not just selling cars.
They're creating an experience, a narrative that
resonates with their clientele.
Right, and it seems like they have
a knack for identifying market trends
and capitalizing on them.
They saw the potential in hypercars
before many others did.
And now they're positioning themselves

(07:32):
to be leaders in the classic and vintage market.
It's a testament to their strategic thinking
and their willingness to take calculated risks.
But as with any business, there are questions
about sustainability.
Can they maintain this level of growth?
And exclusivity in the long term.
That's the big question.
Can they keep this momentum going?
The hypercar market, it's exciting,

(07:53):
but it's also fickle.
Tastes change.
New players emerge.
Right, and I think that's where their focus on what
they call the F-first motors experience
becomes so important.
It's not just about buying a car.
It's about joining this community.
Remember Ali talked about how the showroom
is open to everyone, even if they're just browsing.
Creates a buzz, a sense of aspiration,
even if you're not a multimillionaire.
And they're really savvy with their social media,

(08:16):
all those behind the scenes glimpses,
sneak peeks of new acquisitions.
It really fuels that sense of exclusivity.
Totally, it's brilliant marketing,
keeps their audience engaged, and it reinforces
their position as this ultimate destination
for hypercar enthusiasts.
And let's not forget it attracts sellers too.
If you have a rare gem you want to part with,
F-first Motors is the place to be.

(08:36):
Yeah, they've created this whole ecosystem
around these incredible machines.
It's not just a showroom, it's a gathering place
for a very specific, very passionate group of people.
And their commitment to that hassle-free ownership
plays a huge role in that.
By handling all that maintenance
through official dealers, they're
taking a huge burden off their client's shoulders.
Imagine owning a $5 million car and having

(08:58):
to worry about finding a mechanic.
Who even knows how to handle it?
Oh, that would be a nightmare.
Right, especially with those limited production vehicles,
where parts can be incredibly hard to come by.
So F-first Motors takes care of all that
so their clients can just enjoy the thrill of owning
and driving these automotive masterpieces, which again,
builds that trust, builds loyalty,

(09:19):
and reinforces their reputation as the experts
in this very niche market.
And as they move into that classic and vintage market,
that expertise becomes even more crucial.
You're talking about vehicles that are 60, even 100 years
old.
The knowledge required to properly maintain and restore

(09:40):
those cars is immense.
It really is.
And not to mention the due diligence involved
in verifying authenticity and provenance.
When you're dealing with a car worth tens of millions,
F-first Motors is positioning itself
as this trusted authority in this specialized field, which
I think is a really smart move.
Yeah, it's like they've gone from selling cars

(10:02):
to curating automotive history.
And they're doing it with this level of passion
and commitment that's really impressive.
Yeah, and I think there's one final piece of the puzzle
here that's really important to highlight.
Remember Ali talking about providing for 80 families
through F-first Motors.
Yeah, it's easy to get caught up in the glitz and glamour
of the hypercar world.
But that sense of responsibility, of community,

(10:22):
that really struck a chord with me.
It suggests that their success isn't just about profits.
It's about building something sustainable, something
that benefits not just the owners, but also
their employees and the community as a whole.
It really is a refreshing perspective.
In a world where luxury brands often focus solely
on exclusivity and status, it seems
like F-first Motors is taking a different approach.

(10:44):
They're building a brand that stands for quality, passion,
and a commitment to something larger than themselves.
And I think that's the key.
To their long-term success, they've
managed to create a business that's not just
about selling cars, but about fostering a community,
building trust, and leaving a positive impact on the world.
It's me.
What have we learned?
From our deep dive into the world of F-first Motors,

(11:07):
we've seen how a company can evolve and adapt
to changing markets, how a strategic focus on a niche
can lead to incredible growth, and how this commitment
to quality, service, and community
can build a brand that stands out from the crowd.
It's a fascinating case study in entrepreneurship, passion,
and the power of building a business that's driven.
By more than just profit, I think

(11:28):
it leaves us with this thought.
In a world where success is often measured in numbers,
F-first Motors reminds us that true value comes from,
authenticity, integrity, and a genuine desire
to make a difference.
Thanks for joining us for this deep dive
into the world of F-first Motors.
It's been a thrilling ride, and we
hope you've enjoyed the journey as much as we have.

(11:48):
Until next time, keep exploring, keep learning,
and keep pushing the boundaries of what's possible.