Page 373 - Ministry of Economy - December 2017

12/25/2017 Car prices likely to cost 20% more in UAE, says FNC member

The FNC member proposed a fair value pricing system and profit margin
car agencies across the country in an effort to stabilize local prices.

Sultan Bin Saeed Al Mansouri, Minister of Economy, said the proposal to
set up a fair value pricing system for car agencies will be considered by the
newly set-up car agencies committee.

Al Mansouri noted, however, that market competition is going to make it
difficult for car agencies to hike up prices.
“Car agencies in the UAE make no more than 5 per cent profit margin,” he
said.

“Competition has sent car prices nosediving since the middle of this year.
Prices have decreased by 20 per cent since mid-August and they are
expected to decrease further next year,” Al Mansouri said.DAJ/Expat
Media

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