Surge in used car sales in Qatar
There appears to be a sudden surge in advertisements by people wanting to sell their cars, especially on popular online portals like QatarLiving and social networking sites, of late.
This has led to an “oversupply” in the used vehicles market, say sources, which may lead to a fall in prices in the next two weeks. As a result, this may be a good time for those wanting to buy a used car, they point out.
A close look at some of these portals reveals that a large number of new entries – ranging from 100 to 200 - are posted in the used cars segment every day, with one of them showing an even higher number.
For instance, in the three hours between 3pm and 6pm yesterday, there were more than 100 new posts on the site, it was found. The same sites received 20-25 such posts a day until a few weeks ago.
Replying to queries from Gulf Times, sources in the automobile sector attributed the situation to ongoing developments in some oil and gas companies, where downsizing of staff has reportedly been on for more than a month.
As a direct consequence, many employees, including senior ones, are rushing to put up online advertisements to sell their cars as they prepare to leave the country.
Inquiries show that many vehicles that are advertised for sale are not more than three years old and most of these vehicles are still with their first owner.
“As the pace of retrenchment in some companies has intensified in the last few weeks, there has been a corresponding rise in the supply of used cars,” said a source familiar with the used cars market.
He expected the supply of cars, including 4x4s, to further increase in the coming days.
Apart from social networking sites, vehicle owners are also putting up sale notices on display boards at some of the popular hypermarkets.
Given the situation, some of the owners may be compelled to dispose of their vehicles at comparatively lower prices, said a long-time resident who runs an automobile workshop in the Industrial Area.
According to him, some owners may transfer their vehicles to friends’ names if they did not get the desired price before their departure.
Further, he stressed that the “oversupply” of used vehicles would lead to a fall in prices in the market over the next two weeks, benefiting buyers.
Downsize in ooredoo as well. too many termination letters
But if you get terminated or have to leave in a hurry .. you might lose big
another thing,peoples don't want to buy used car now, there is some reasons #1 you have to pay full cash #2 no warrantee #3 and high price also, better you go to new car and pay installment and warrantee also. there is so many used cars peoples r using like last 10 years and asking 70% price of the new car.(sorry if grammar mistake)
another thing,peoples don't want to buy used car now, there is some reasons #1 you have to pay full cash #2 no warrantee #3 and high price also, better you go to new car and pay installment and warrantee also. there is so many used cars peoples r using like last 10 years and asking 70% price of the new car.(sorry if grammar mistake)
another thing,peoples don't want to buy used car now, there is some reasons #1 you have to pay full cash #2 no warrantee #3 and high price also, better you go to new car and pay installment and warrantee also. there is so many used cars peoples r using like last 10 years and asking 70% price of the new car.(sorry if grammar mistake)
My villa was last month lowered by QR1500.
Brit: Makes sense that rizks would stock up on labour now...the population already includes close to a million labourers and most of the doubling you mention will comprise of blue collar labourers too..
What about the price of Karak ?
What about room/flat rent and Shop Rent?
What about the New Car Price, are they really going down in two weeks?
Unfortunately, that's the current situation not only on vehicles for sale but many other items.
Car boot fair! ha
knor: Please be vigilant. He only seems to be interviewing females
^^ :D he's hoarding workers for future purposes.
I am confused. On the one hand we are being told that there is "retrenchment (whatever that means). On the other, we are told that the population of Qatar is going to double by 2022 and Rizks is hiring more people for his Emporium.
even in the construction sector, there is a termination/retrenchment going on.
THERE IS BIG DOWN SIZING IN QP.....WELL THEY SAY THAT IF NEW YORK STOCK EXCHANGE SNEEZES....MANY OTHER S/EXCANGES GET FLU.....SIMILAR IS THE CASE HERE...OTHERS ARE FOLLOWING THE SUITE.....RESULTING ?????????
Does this mean that there are bargains to be had
Yes I can see many adds for the past couple of days