There used to be a time when there was a very healthy market for used cars in Qatar.

But they have suffered heavy losses in recent times, mainly due to the market being flooded with newer cars at rock-bottom prices, sold by expats who lost their jobs and had to leave the country in a hurry.

Now, a new survey suggests that things are bleaker than ever for second-hand car showrooms in Qatar.

If results of a survey done by Q Motors, a local company, are accurate, then about 30% of used car dealers in Qatar are facing possible closure, reported Qatar Tribune.

Substantial drop in prices of new cars is also seen as another major reason for this situation. The prices of new cars have seen a drop of over 15% since 2015.

The report suggested that if the situation does not change, almost 40% of used car dealers may shut down by the end of 2017. Sad news, indeed.