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BMW sees growth in Mideast used car sales

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    BMW sees growth in Mideast used car sales

    www.arabianbusiness.com
    by Rob Morris on Sunday, 24 May 2009

    USED CARS: BMW has seen a big growth in used car sales in the Middle East as the global slowdown continues to hit the region. (Getty Images)
    Demand among Middle East motorists for used cars is outstripping new vehicle sales by two to one, according to BMW Group.

    The German car manufacturer said on Sunday that sales for Premium Selection, its used cars service, have increased more than 20 percent in this year’s opening quarter.

    In contrast, new models are proving far less attractive with a 9 percent decline during the same period as buyers hit by the economic downturn look for cheaper vehicles.

    “Growth of the used car business is faster than new cars at the moment. If we are looking to the end of April, volumes have increased roughly 20-23% which is very encouraging,” said James Crichton, sales and marketing director of BMW Group Middle East.

    “We have seen about an 8 percent decline on new BMW car sales this year versus last year when looking at January through to March. Looking at it as a group for BMW and MINI, we are probably down about 9 percent, so our MINI volume is down more than our BMW volume.”

    Premium Selection sales are up 59 percent compared with Q1 of 2008, the group said. The company has sold 456 vehicles up to May this year, with Saudi Arabia, Dubai and Bahrain accounting for most sales.

    While registering a 9 percent decline in new car sales, BMW has increased its market share in the Middle East by 2 percent.

    The 7 Series, X6 Sports Activity Coupe and X5 were the biggest sellers, with 584, 1,118 and 510 new vehicles sold respectively during this year’s opening quarter.

    Despite the drop in new car sales, Crichton insisted the Middle East division was in better shape than other BMW markets.

    “Compared to international results, our group decline of 9 percent is very encouraging,” he said. “For the year to date we are 9 percent down, and I am hoping to get that decline lower as we move through the year.

    “I would like to see about 7 percent or 5 percent running through the year, but I don’t expect to see us exceed last year’s [new car sales] volumes.

    Launched in the Middle East three years ago, Premium Service has been rolled out to eight markets including Dubai, Abu Dhabi, Bahrain, Saudi Arabia and Oman.
    Current
    E92 M3 - Mineral White
    F80 M3 - SilverStone

    Past
    E36 318is
    E39 540i ///M sport
    VW CC
    E46 M3 - Frozen White

    #2
    Interesting find Waz... although it doesn't seem so far fetched an idea!
    sigpic

    Something EVIL is brewing... :///M:

    Cry havoc... and let slip the dogs of WAR!!!

    Comment


      #3
      guys the situation looks worse than the previous years... have a look what i found.

      Comment


        #4
        how did u get hold of that???????????
        Current
        E92 M3 - Mineral White
        F80 M3 - SilverStone

        Past
        E36 318is
        E39 540i ///M sport
        VW CC
        E46 M3 - Frozen White

        Comment


          #5
          Bruno has always been a little sketchy :cid:

          He's not only into CF u know ;)
          sigpic

          Something EVIL is brewing... :///M:

          Cry havoc... and let slip the dogs of WAR!!!

          Comment


            #6
            hmmm i think those figures don't apply to dubai.. here the crisis has hit the auto market much harder than other middle eastern countries!

            my friend works at AGMC used cars on shk zayed rd, sales are down to half!!

            BMW history:
            07 Z4MC | 01 330ci | 99 Z3R | 93 325ic

            Comment


              #7
              yup....thats what even i here....they are having special offer "dynamic days" almost every two weeks!.... they have a bunch of 120i, 320i in red color with ZERO mileage goin for real cheap!
              Current
              E92 M3 - Mineral White
              F80 M3 - SilverStone

              Past
              E36 318is
              E39 540i ///M sport
              VW CC
              E46 M3 - Frozen White

              Comment


                #8
                Originally posted by Wazif View Post
                how did u get hold of that???????????
                i work for a company that all what it provides is financial data. ;)
                Originally posted by Haissam View Post
                hmmm i think those figures don't apply to dubai.. here the crisis has hit the auto market much harder than other middle eastern countries!

                my friend works at AGMC used cars on shk zayed rd, sales are down to half!!
                yup i know how much they are suffering

                Comment

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