Uber's unhired fleet floods used-car market

Lion City Rentals cars numbered around 14,000 before the Uber-owned firm rushed to buy more before the end of last year ahead of a new emission ruling. Some of the unhired Lion City Rentals cars - mainly Mazda 3 sedans and Honda Vezel crossovers - ar
Lion City Rentals cars numbered around 14,000 before the Uber-owned firm rushed to buy more before the end of last year ahead of a new emission ruling. PHOTO: ST FILE, FACEBOOK/SGCARMART.COM
Some of the unhired Lion City Rentals cars - mainly Mazda 3 sedans and Honda Vezel crossovers - are being advertised for sale on car retail portal SgCarMart at relatively low prices.
Some of the unhired Lion City Rentals cars - mainly Mazda 3 sedans and Honda Vezel crossovers - are being advertised for sale on car retail portal SgCarMart at relatively low prices.PHOTO: FACEBOOK/SGCARMART.COM

Sales brisk for the relatively cheaper vehicles, but some fear this will affect used-car prices

Hundreds of unhired cars from a massive fleet owned by Uber have started appearing on the used-car market, just a week after the American ride-hailing app was switched off here.

Mainly Mazda 3 sedans and Honda Vezel crossovers bought by Uber-owned Lion City Rentals last year, the cars - with 50km clocked or less - are being sold at a loss of between $10,000 and $20,000 each.

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A version of this article appeared in the print edition of The Straits Times on May 19, 2018, with the headline 'Uber's unhired fleet floods used-car market'. Print Edition | Subscribe