Used car market sees modest movement but dealers say not a recovery

Used car dealers said sales in their segment have seen a modest recovery over the summer, according to Al Mal. The traders added that they think the rise comes from stabilizing prices and a seasonal rise in the summer. Dealers, however, doubt that the good times will continue, as inventory of cheaper cars clears out and the seasonal boost evaporates. We have been noting on the upswing in the second hand car market of late, withthe National Bank of Egypt betting that the used car market would be seen as a feasible alternative to imported or assembled cars.