I received an interesting email from a friend this morning, with pictures, which I thought is worthy of translation and sharing.
There is an active campaign in Bahrain at the moment by consumers to force greedy car dealerships to reduce their prices. It’s apparently fashioned after a Saudi campaign which some say already bore fruit.
The essence of this campaign is to not buy cars, let the stock rust if need be, until dealers take active steps to make car prices in Bahrain comparable to world markets. The email cites some staggering prices that if true, demonstrate the abject greed which should only be rewarded by completely shunning the owning company’s (if not family’s) businesses.
Here’s the translation – I vouch not for these figures, if anyone has any corroboration, please comment:
Let them Rust
There are approximately 9,500 cars in Mina Sulman with no buyers in sight. An agreement has been struck between the importers to move their stock to their warehouses outside of Mina Sulman due to its closure [and taking over by the US Navy’s 5th Fleet apparently.]
Friday 15th May 2009: see pictures below of shots taken at the port 3 months ago.
Al-Moayyed’s car companies didn’t sell more than 60 cars since the start of 2009 and anyone can go to witness their stock in Saar without a buyer in sight. Kanoo transported more than 3,000 cars to their warehouses in Sitra.
The pictures below show the cars in Mina Sulman due to the global economic downturn and no one wants them. I implore everyone in Bahrain to start the “Let Them Rust” campaign as in Saudi until the dealers reduce car prices to parity with the rest of the world.
We came to know that dealers actually raised prices by 5% rather than reduce them. Let them fester in their warehouses, full in the knowledge that the car costs are quite cheap.
Here are examples of actual costs:
Toyota Corolla: Cost BD2,800 including customs and shipping, resale price BD6,500 Camry with costs: Cost BD4,000 but resale price is over BD9,000 Land Cruiser costs BD7,500 with full options is sold for over BD16,000 Mustang costs BD4,000 but sold for BD11,000 Lancer costs less than BD2,000 but sold for over BD5,500 Honda Accord costs approximately BD4,200 but is sold for BD9,000 Lexus ES300 with full options costs BD5,500 but is sold for BD15,000, even though they are sold as 2009 models while they actually are 2008. Be careful, they might even be sold as 2010 models!
Please don’t buy any cars [in Bahrain] unless traders reduce their prices appropriately. Citizens! You live on perpetual loans, be careful!