Demand for fuel-efficient vehicles up

sharjah — Souq Al Haraj for Cars, a project of Sharjah Asset Management (SAM), the investment arm of the Government of Sharjah, on Monday announced that it is experiencing an increasing demand for small cars, sedans and other fuel-efficient vehicles.

In a statement, Souq Al Haraj for Cars said it noticed a decrease in demand for large SUVs, four-wheel drive vehicles and 8and 12-cylinder vehicles.

“With the hike in global crude oil prices and the implementation of VAT in the UAE, there is a greater demand for fuel-efficient vehicles. We are seeing an estimated 20 per cent growth in demand for small engine cars, and we anticipate this growth will continue to increase in the near future,” Majed Al Mualla, acting manager of Souq Al Haraj for Cars, said.

Despite rising crude oil prices and the implementation of the value-added tax (VAT), earlier this year, Souq Al Haraj remains an active marketplace for car buying and says it is experiencing high transaction volumes from domestic and international customers. However, change has been most noticeable in customer car preferences.

“Souq Al Haraj for Cars in Sharjah, one of the largest dealerships of its kind in the region, is a destination of choice for car buyers. Our mission is to help regulate this industry to ensure more value, diversity, transparency, trust and convenience for dealers and buyers, alike,” Al Mualla said.

— business@khaleejtimes.com