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Local News>Dealers report sales win at used-car showMark Titus - Business Reporter |
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A HASTILY staged car show last weekend turned out to be a sales win for some, and now the Jamaica Used Car Dealers Association (JUCDA) is gearing for round two, with another staging in Montego Bay by December.
The event, the Financial Gleaner has learned, was planned by The Firm, a marketing company owned by Ian Lyn, the president of JUCDA.
At the show in Kingston, last weekend, dealers said that with the 50 per cent to 60 per cent drop in industry sales and no immediate signs of a turnaround, they were in full sales mode - a strategy that paid for some.
"This is a big plus for the used-car business," said Ray Rose, CEO of Raymar Automotive Limited.
"Normally, we would not be considered for such an event here in Jamaica, but now we have our own."
Raymar sold seven cars at the two-day show.
JUCDA stepped in with its own show after the Automobile Dealers Association (ADA) of new-car sellers, dropped its $10 million plan. Used-car dealers are not invited to the ADA show, which has been staged annually since the 1960s.
"I think we should take this further and have a used-car flea market," said Rose.
"This could be a way to enhance sales, while forcing the dealers to maintain competitive prices."
Even those dealers that did not have immediate success left the event upbeat, citing a perceived shift in market sentiment.
"We have been having some serious enquiries, to the point where interested clients have begun discussions with the financial institutions that are here so we expect some business over the course of the next few days," said Junior Dawkins, manager of Birthright Enterprises Limited.
Only the best on display
From a 1936 Ford V8 motor car showcased by the Jamaica Classic Car Club, to a 2006 Bentley Continental GT luxury sports machine with a price tag of $60 million displayed by Carland Investments Limited, car enthusiasts were shown the best that used-car traders had to offer.
"It is always good when one can participate in events such as this," Tariq Malik, managing director of Carlands, told the Financial Gleaner.
"It is an opportunity to go to your customers, instead of them coming to us."
But the auto festival was not only a showcase for JUCDA's members, but included a few ADA members.
Desmond Brown, sales represen-tative of Progressive Motors, exclusive dealer for Peugeot, said while a few enquiries were made, patrons demonstrated a clear bias for cars used, attributed to the tough economy.
Sandy Cameron, acting sales manager at Vehicles and Supplies Limited, dealers for the Isuzu brand, says her company continues to do good business even in the recession.
"We have been doing well, our products are still selling despite what is happening."
Fourteen car dealers, security companies and financial institutions participated in the event which was held on the grounds of the Police Officers' Club In Kingston.
JUCDA said it spent in the region of $1.5 million on the two-day event.
The MoBay show is to be followed by another in Mandeville in early 2010.
mark.titus@gleanerjm.com