Monday, 16 September 2019 06:50 GMT

UAE- Car dealers see bumper sales during Ramadan

(MENAFN - Khaleej Times) Automobile dealerships are expecting bumper sales during the holy month of Ramadan, after witnessing slower sales in the first five months of 2016.

"Ramadan is regarded as a season when people purchase automobiles, and this is what we are looking forward [to]," Al Masaood Automobiles general manager Syed Hamayun Alam said on the sidelines of the launch of two new Infiniti models, the QX60 and QX50, at the its state-of- the-art Iredi Infiniti Centre in Abu Dhabi.

In January to May, verall automobile sales in the UAE dropped 22 per cent. Sales in the first quarter of the year were down 12 per cent.

The total industry volume in the year is expected to drop 10 per cent to 390,000-395,000 cars, down from 402,000 and 412,000 cars sold in 2015 and 2014, respectively.

"Nissan, one of the most popular brands, is expected to remain stable," he said. "We are not expecting growth like last year."

Infiniti automobile sales grew 15 per cent year-on- year in the quarter while Renault sales dipped slightly, he added.

The reasons behind slow growth in sales are geopolitical events in the region, the impact of the slump in oil prices and business sentiments in the market, Alam said.

"Some of the corporate customers in Abu Dhabi will not buy as much as they did last year," he feared.Their purchases are expected to decline by up to 20 per cent this year compared with last year, he added.

Already, major government institutions do not purchase automobiles directly from automobile agencies; rather, they lease them from the government-owned leasing companies.

Automobile dealerships are coming up with exciting incentives to attract customers. They are offering different services valued at between Dh6,000-Dh15,000 in shape of insurance, free service, repairs and maintenance.

Al Masaood Automobiles has unveiled a range of major Ramadan offers, uniquely tailored to meet individual customer needs. Hot on the heels of the recent launch of Infiniti's latest models, the promotions offer a great combination of benefits. Among the offers are highly-competitive interest rates starting at 1.99 per cent, including a four-month deferred payment.

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UAE- Car dealers see bumper sales during Ramadan

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