DROP IN DEMAND FOR SECOND-HAND CARS
Astream of expatriates leaving the country for long summer vacation has led to a fall in the demand for second-hand cars by 20%, according to a report last month. “We use to sell five or six cars in a month even during the summer holidays. But this summer seems to be different. We could sell just two vehicles in August,” said a trader.
“With falling demand, the prices of used cars also declined significantly. We sold an Urvan 2010 model for QR20,000,” he added.
Another trader said that prices of big four-wheelers with full options like the Land Cruiser GXR 2010-11 model have declined from QR150,000 to QR110,000.