Seera’s Lumi expands used cars business to meet growing demand

Lumi opens the new showroom in Jeddah

Lumi Rental Co., the car rental and leasing unit of Seera Group Holding, announced today the launch of its second used car sales showroom in the Kingdom to meet increasing market and client demand. Lumi’s latest showroom covers 2,960 square meters in Jeddah’s Al Jawhara district. It has a capacity to showcase 120 pre-owned vehicles.

Lumi launched its Riyadh and Jeddah showrooms to sell vehicles within two to four years of age, replacing them with new vehicles for rental and leasing customers. Lumi’s used car business segment sold over 3,600 vehicles in 2022.

Lumi’s corporate and business buyers can buy individual or multiple pre-owned vehicles through a digitized bidding process. The strategy seeks to enable Lumi to operate a young rental and leasing fleet, providing its customers with access to the newest vehicles.

Azfar Shakeel, CEO of Lumi, said: “We recognized early that the used car sales business would play an increasingly significant role in our ambitious growth strategy and our plans to consolidate Lumi’s position as one of the fastest growing car leasing and rental operators in the Kingdom. The launch of our showroom in Jeddah expands our geographic reach across the country. It also enables Lumi to gain a further market share in the used cars sector, which was valued at SAR 39 billion in 2021 with significant upside potential.”

“We remain committed to growing our used car sales business, which is growing significantly, thanks to the major development programs of Saudi Vision 2030 and the Kingdom’s post-pandemic recovery. To meet growing demand and achieve more growth, we are planning to launch a third used car showroom in Dammam, providing even greater accessibility to our customers through our diverse and integrated digital platforms,” he added.

As part of the company’s ongoing commitment to transparency and ensuring a seamless customer experience, Lumi’s new showroom will provide visitors with a 20-point computerized vehicle inspection report that covers all major mechanical systems and safety functions, such as mileage, model year, engine, cooling and fuel system, drive axle, transmission, electronic systems, suspension, brake system, steering and air conditioning, the company added.