Seera’s Lumi expands used car sales footprint to Jeddah, to meet growing demand

Seera’s Lumi expands used car sales footprint to Jeddah, to meet growing demand

Riyadh, Saudi Arabia: Seera Group Holding’s car rental and leasing unit, Lumi Rental Company (“Lumi” or the “Company”), today announced the launch of its second used car sales showroom, further expanding its used car sales footprint in the Kingdom to meet strong growth in demand. Located in Jeddah’s Al Jawhara district, the Company’s latest showroom covers 2,960 square metres with capacity to showcase 120 pre-owned vehicles. Lumi, a national champion and fast-growing market leader in the car rental, leasing and used car sales segments, with a unique full-service business model and a fleet of over 24,000 vehicles, inaugurated its first used car showroom in Riyadh in late 2022. Launched in response to very healthy retail customer demand for used vehicles, the Riyadh and Jeddah showrooms are set to drive the Company’s strategy to maximise purchase price recovery through the sale of vehicles released from its rental and lease segments after 2-4 years of operations. In addition, Lumi’s corporate and business buyers can purchase individual or multiple pre-owned vehicles through a digitised bidding process. The strategy ensures that Lumi is in a position to operate a young rental and leasing fleet, providing its customers with access to the latest and newest