Saudi used car dealers see sales fall 15%

CAR SALES: Used car sales have fallen by 15 percent, Saudi dealers say. (Getty Images)

Second hand car sales in Saudi Arabia have fallen by 15 percent and supply is now outstripping demand, used car dealers say.

The arrival of 2010 models has dented the used car market, retailers say, while demand for second hand cars has fallen over the summer, Ramadan and Eid holiday.

One dealer told Arab News he had only been able to sell one car in the past few months. “At this time last year, I used to sell more than 10 used cars,” Muhammad Al-Khalti told the paper.

Mubarak Al-Dousary, who owns a used car showroom, told the paper that price cuts and special offers for brand new vehicles to entice buyers amid the global downturn had turned people away from used cars.

“This has made it pretty attractive to buy a new car and so many of our customers aren’t buying secondhand. They’re opting for brand new cars,” he told the paper.

“We’d expected a boom in sales of used cars after the government announced it was stopping the import of cars that are over five years old, but this has not happened,” he added.

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