More than a quarter of used car showrooms in Qatar face closure
There used to be a time when there was a very healthy market for used cars in Qatar.
But they have suffered heavy losses in recent times, mainly due to the market being flooded with newer cars at rock-bottom prices, sold by expats who lost their jobs and had to leave the country in a hurry.
Now, a new survey suggests that things are bleaker than ever for second-hand car showrooms in Qatar.
If results of a survey done by Q Motors, a local company, are accurate, then about 30% of used car dealers in Qatar are facing possible closure, reported Qatar Tribune.
Substantial drop in prices of new cars is also seen as another major reason for this situation. The prices of new cars have seen a drop of over 15% since 2015.
The report suggested that if the situation does not change, almost 40% of used car dealers may shut down by the end of 2017. Sad news, indeed.
Please make your profit calculation since last 10 years and for next ten years.
In this way, you can still feel you are running on profit.
We always saw incredible profit for companies in the past.
Now it's time to think and enjoy those incredible movements to shape up the present market.
Don't close business. Now its time to do proper business without monopoly and incredible profit margin.
Serve food not to the size of the plate rather to your hunger.
Most of these businesses extorted a lot of hard earned money from Expats. No sympathies with them. Let the competetive market prevail. Same will be the case with the mid-end house rentals in future.
I am curious. Are we supposed to be sorry or happy ? Its like any other business. They made lots of money in good times and now when the times are harder , they have to compete to survive.