Dwindling Car Sales Create More Offers for Buyers in GCC Region
As per the new report by Autodata Middle East, which we covered earlier, the car sales in the first half of 2017 were about 30% lower than the figures last year for the same time.
As the carmakers, as well as dealers, look to improve the new car sales numbers by providing zero percent interest, finance offerings, extended warranty, service schedule plans and no deposit deals, it is a very good time for customers looking to make a purchase. Since both, automakers and dealers look to clearing the inventories, this is surely a win win scenario for any car buyer right now in the GCC region.
As per Ian Batey, General Manager, Autodata Middle East,” This process is a market correction for the last six months and has been building up in the last 18 months. It might be so that this whole scenario will be the new normal.“
Although automakers wished to make due advantage of Ramadan and hoped that it would boost the new cars being bought, even the addition of new offers couldn’t offset the numbers easily, and the sales numbers were classified as normal for the Ramadan period.
According to the Autodata’s report, there is no forecast in the recent time that points towards the significant growth of the new car sales till atleast 2019. In 2019, the sales will hopefully increase, but the expected percent is only about 5 per cent.
Since there are new offers on the lot, buyers have the advantage of greater choice at lesser price coupled with greater offers. For those people who wish to exchange the old cars, now is the time.