In recent times, automotive companies and dealers are offering extensive year-end promotions, prominently including the provision of customers with "zero percent interest rates" on car loans for purchases with terms from two to three years, as well as offers for extended warranties and services for two years or free registration and tuning.
Customers have reported that year-end promotions cover a vast range and are mostly centered around the presented "zero percent interest rates," which have captured a large share of promotions, in contrast to discount promotions, services, and insurance that have decreased compared to similar offerings from the previous year.
Representatives and experts in the industry have noted that promotions depend on the marketing strategies of companies and dealers, some of whom consider "zero percent interest rates" to be more appealing than traditional discount offers.
Various campaigns are aimed at increasing sales and realizing models from the previous year before the year-end. For instance, the automotive holding Tarek Ashraf noted that there are now numerous promotional offers from automakers for the sale of models from the current year. He highlighted the difference between this year's promotions and last year's as the increase in offers for "zero percent interest rates" on loans for terms ranging from two to three years compared to last year's discount offers and free insurance.
At the same time, consumer Mohammed Adel believes that promotions offered by automakers recently are useful, but most of them focus on expanding "zero percent interest rates," which do not draw attention to discounts, especially considering that the models sold this current year will become outdated by the end of the year.
Automaker Yusuf Samir emphasized the significant difference between the promotions at the end of the current and previous year, including reduced offers on insurance, discounts, or service contracts for four or five years on the backdrop of spreading "zero percent" credit offers and two-year services.
Automaker Ahmed Maher believes that dealers offer promotions that are centered on their own interests and do not spend large amounts on promoting models prior to the end of the year. Many consumers postpone decisions on purchasing vehicles to periods with motivating promotions, such as year-end offers.
According to the main executive director of the group Abdul Wahid Al Rustamani Cars, Michelle Ayat, the automotive market in the country is currently experiencing a high level of competition, stimulating dealers to compete for increasing their market shares.
The president of Hyundai and Genesis Emirates, Sulaiman Al Zubain, noted that competitive promotional offers between dealers significantly depend on their varying marketing strategies, defining the forms and levels of proposed promotions. According to the words of the main executive director of "New Auto" trading and delivery of vehicles, Bilal Nasra, the spread of promotions in the market in recent periods is associated with sharp growth in competition, and the quality of proposed promotions depends on the policies of each company regarding the proposals of promotions, corresponding to their marketing strategies.
