Car sales in Lebanon up 2% in 2013
Figures released by the Association of Automobile Importers in Lebanon (AIA) indicate that a total of 36,109 new passenger cars were sold in 2013, constituting an increase of 1.8% from 35,477 cars sold in 2012.
This rise in new car sales is mainly attributed to aggressive promotional and advertising campaigns. Korean cars accounted for 45% of total sales, followed by Japanese cars with a 28% share, European automobiles with 19.5%, American vehicles with 5.5% and Chinese cars with 2.1%. Chinese cars posted the highest growth in sales with a 63.3% rise year-on-year, followed by Japanese cars with a 5.5% increase and Korean cars with a 1.5% rise.
In parallel, American cars posted an 11.2% contraction in sales year-on-year, followed by European cars with a 2.4% decrease.
Kia is the leading brand in the Lebanese market with 9,310 cars sold in 2013, followed by Hyundai with 6,901 cars sold, Nissan with 4,974 cars, Toyota (2,189), Chevrolet (1,184), Renault (1,065) and Mitsubishi (940).
In parallel, a total of 2,257 new commercial vehicles were sold in 2013, up by 3.3% from 2,185 vehicles sold a year earlier, and up by 9.2% from 2,067 vehicles sold in 2011.
The AIA indicated that the combined number of registered new and imported used cars in 2013 decreased by 6% from the previous year, by 9.5% from 2011 and by 27% from 2010. It said that about 90% of new cars sold during the year were small automobiles that cost about $11,000 each. It noted that the trend towards buying smaller cars is due to the high price of gasoline, the lack of proper public transportation, and fierce competition among car dealers. It added that this translates into lower sales figures and, consequently, a decline in dealers' income.
Reference:: ‘Lebanon This Week’, the economic publication of the Byblos Bank.
