Dubai – Mubasher: Car sales in the UAE increased by around 20% to 40% during the Muslim holy month of Ramadan, auto companies' officials said.
Auto sales in Ramadan registered the highest level since the beginning of 2018, Albayan newspaper reported, citing the officials as saying.
Putting the value-added tax (VAT) into effect has weighed on the auto market in the GCC country as the sold units declined in January, another official stated.
Sayed Alam, general manager at Continental Tyres, said that Ramadan saw a slew of promotions that boosted auto sales by 20%.
He forecast that car firms would extend their special offers after the holy month in a bid to increase their sales this summer.
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