Imported used car prices slashed

Auto, Quest Royal and Wright Cars — reduced the prices on Monday this week and expect a review at the end of April or May.
A sales supervisor at Jakes Auto, Mr Stewart Shamhuyarira, yesterday said they had 1 500 cars in stock.
The vehicles were ordered in anticipation of high demand on the Zimbabwean market last year.
“We have reduced the prices by between 25 and 30 percent to clear the current stock and bring in more cars that are already on their way from Japan and other countries.
“We have over 1 500 cars in our yard and all these should be out by the end of April. We are not happy with the rate at which people are buying, hence the need to revise the prices downwards. We will review the prices at the end of April,” said Mr Shamhuyarira.
He said they had agreed in principle with other dealers to slash prices in line with market demands.
Other dealers who declined to be named confirmed that demand had fallen.
“If you used to sell over 20 cars a day and suddenly you cannot sell 20 per month, it calls for action. We have already reduced the prices in line with the agreement with other players,” said one dealer.
A dealer at Quest Royal, Mr Nasir Nasil, said they will extend the price knockdown until           May.
“We are now selling vehicles at prices just similar to those at the main port in Durban. We are responding to market forces since business is very low these days.
“Most of us had brought in many cars due to the high demand last year, but since December business has been very low. We could sell over 40 cars per day, but now we are selling around 10 and 15.
“It has also come to our attention that many people now prefer buying cars in Durban due to the relatively low prices there . . . We want to do away with that scenario.
“However, other garages are still to review their prices, but by the end of the week, most of the prices will be on the downward trend. As businesspeople, we will continue reviewing the prices in line with market forces,” said Mr Nasil.
Second hand car dealers imported thousands of vehicles in anticipation of a huge demand as Zimbabweans rushed to meet a Government ban on the importation of cars over five years by 31 October last year.
The ban was later lifted indefinitely until the economy enables Zimbabweans to buy new cars.
The Zimbabwe Revenue Authority has confirmed a drastic decline in car imports through Beitbridge Border Post after Government extended the deadline.
Prior to the suspension of the ban, Zimra was failing to clear cars on time as dealers and individuals rushed to beat the deadline.
Some people were buying            the cars for speculative purposes.
Official figures from Zimra show that 4 283 vehicles have been imported through Beitbridge Border Post between January and February this              year compared to 7 242 vehicles during the same period last         year.