The first day of Dubai Municipality’s public auction of used car showrooms has fetched AED 5o.63 million for 22 outlets as enthusiastic traders competed with each other for renting a hot spot in the prestigious Auto Market in Warsan.

Representatives of nearly 150 used car dealers flocked to the DM staff Club in Al Garhood to participate in the auction which will cover the remaining 52 more showrooms.

The auctioned showrooms ranged in area from 3,280 to 6,000 square feet with the lowest annual rent being AED 65,300 and the highest AED 119,000.

The Auto Market, established in 1999 with some 130 showrooms for buying, selling and registering pre-owned vehicles under one roof, is one of Dubai’s major landmarks that attract a large number of dealers & customers.

The auction is being done for a total of 74 showrooms of the second phase of the market with the aim of giving equal opportunities for the local traders in owning a showroom there.

The auctioneer should be a UAE national, a company owned by UAE national or a company whose 51 or above per cent of shares should be owned by UAE National and must be running the used cars trade.

According to Used Car, Inc., a specialist used car data center, the number of consigned vehicles at auto auctions across Japan increased by 10.5% to 617,796 units.

This is the first double-digit increase on the year in 14 months since November 2005.

The number of sold vehicles against total consigned vehicles also rose by 7.5% year-on-year to 333,167 units.

The auto auction industry has made a brisk start this year.

The data for auto auctions is collected and edited by Used Car, Inc. based on total 121 auto auction sites across Japan, which include 48 specialist auctioneers, 31 carmakers affiliated auctioneers, & 42 regional group auctioneers (JU Group).

For more detail about Auction in Japan, please visit : http://www.japanautopages.com/useful_resources/

Many auto auctioneers are setting up such van & truck actions in response to accommodating an increasing number of vans trucks going to auctions.

The growth of auctioned trucks and vans is due to the increase of trade-ins of used vehicles at dealers as trucks users rush to get new vehicles to meet stricter emission regulations from last year.

The move is especially prominent in rural areas in Japan.

The increase in transportation due to the recovered economy also helped the growing demand for used trucks.

On the other hand, lots of used trucks are exported to overseas markets as the demand for Japanese used trucks is very strong there.

Auctioneers admit that they can have a variety of vehicles at their auctions when they add vans and trucks to the lineup. Both buyers and sellers welcome the move.

Actually, specialist auctions of vans and trucks, including the Arai Oyama Van & Truck Auction and Isuzu Motor Auction, have dramatically grown in recent years.

In 2006, Arai Oyama V&T achieved a 19% increase of consigned vehicles, while three Isuzu Motor Auction sites showed a 22% increase in the combined number of consigned vehicles.

However, “we cannot rely on such special demand for a long time,” cautioned a truck trader.

Truck manufacturers foresee sales decreasing in 2007 due to the rebound of replacement demand which occurred last year.

Instead, they are aiming to recover the decrease by expanding overseas sales.

According to Used Car, inc., a specialist used car data center, the number of consigned vehicles at auto auctions across Japan increased by 10.5% to 617,796 units.

This is the first double-digit increase on the year in 14 months since November 2005.

The number of sold vehicles against total consigned vehicles also rose by 7.5% year-on-year to 333,167 units.

The auto auction industry has made a brisk start this year.

The data for auto auctions is collected and edited by Used Car, Inc. based on a total of 121 auto auction sites across Japan, which include 48 specialist auctioneers, 31 carmaker affiliated auctioneers, & 42 regional group auctioneers (JU group).

The first day of Dubai Municipality’s public auction of used car showrooms has fetched AED 5o.63 million for 22 outlets as enthusiastic traders competed with each other for renting a hot spot in the prestigious Auto Market in Warsan.

Representatives of nearly 150 used car dealers flocked to the DM staff Club in Al Garhood to participate in the auction which will cover the remaining 52 more showrooms.

The auctioned showrooms ranged in area from 3,280 to 6,000 square feet with the lowest annual rent being AED 65,300 and the highest AED 119,000.

The Auto Market, established in 1999 with some 130 showrooms for buying, selling and registering pre-owned vehicles under one roof, is one of Dubai’s major landmarks that attract a large number of dealers & customers.

The auction is being done for a total of 74 showrooms of the second phase of the market with the aim of giving equal opportunities for the local traders in owning a showroom there.