UAE car listings fall by half amid coronavirus pandemic: Report
April 6, 2020, 7:05 am

UAE car listings fall by half amid coronavirus pandemic: Report

Empty streets in downtown Dubai, UAE, due to coronavirus lockdown measures. (File photo Reuters)

The number of pre-owned online car listings have dropped by almost half from average in the UAE as the coronavirus pandemic takes its toll on the automobile industry, according to data from Dubai-based automotive platform Seez. UAE car

The UAE economy has begun to see the economic fallout of the coronavirus, officially known as COVID-19, as authorities place the country into lockdown to control the virus’s spread. Dubai announced Saturday that it was extending its lockdown period for a further two weeks with a 24-hour curfew in place.

“People will not stop buying cars, they have just paused buying cars because of the uncertainty of what’s going on. As life gets back to normal we’re bound to see people who had previously wanted to buy a car do so,” Seez CEO Tarek Kabrit said.

See found that prices for cars have fallen at least 10-15 percent, with the biggest drop happening in the middle of March when coronavirus measures were introduced.

Over the past two months, car searches have fallen by 65-80 percent, while lead conversions have dropped by a third.

BMW, Lexus, Volkswagen, Nissan, and Toyota were noted as performing the best in terms of maintaining their market share in their respective categories.

“Low-cost cars that are vital for people's commuting needs will probably recover fastest. Premium brands, which are holding up relatively well even now, will continue to do well too, but we may see a shift towards lower-end models within the segment,” Kabrit added.

Consumers may also begin to shift towards leasing rather than outright purchasing. UAE car

“With more economic and job uncertainty, the lower level of commitment that comes with a lease may be more attractive now,” Kabrit concluded.

The UAE has reported 1,798 infections of the coronavirus, with 10 fatalities. The country has reported 144 recoveries so far. levant

source: Matthew Amlôt levant

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”