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Is this the best time to buy a car in the UAE?

AutoMiddleEast.com logo AutoMiddleEast.com 26/07/2017 Syndigate.info
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Their loss, your gain — as carmakers in the GCC region struggle with a depressing sales slump, the consumer might be at an advantage with overstocked dealers offering discounts to shift cars…

Sales in the UAE are down 28 percent year-on-year — which means dealers are getting desperate to clear their stock…

A new report by Autodata Middle East, a provider of vehicle data and market information, clips that car sales in the GCC in the first half of 2017 compared to the same period last year are down 30 percent on average. The countries hit the most are Bahrain with a 41 percent sales drop; KSA with a 38 percent drop, and UAE with 28 percent.

As carmakers scramble to offset the numbers with finance offerings, zero-percent interest, no deposit deals, and extended warranty and service schedule plans, the consumer has the most to gain here while dealers look to clear their inventories.

“… This is not a ‘downturn’ but a market correction for the last six months,” says general manager at Autodata Middle East, Ian Batey. “This correction has been 18 months in the making and we believe that this is the new normal.

Carmakers banked on a rush into the showrooms over Ramadan when buyers traditionally take advantage of bonus offers, but this time sales were merely classed as ‘normal’ for the period.

Autodata’s report adds that there is no forecast for significant growth at least until 2019 when vehicle sales in the GCC are expected to increase only by about five percent.

What does all this mean for you, the buyer? Well desperate measures call for desperate dealers — in other words, “There has never been a better time to buy,” adds Batey.

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