6.67% Reduction in Newly-Registered Cars by December 2016

Data from the Association of Lebanese Car Importers reveals a 6.67% y-o-y decline in the total number of newly-registered commercial and passenger cars by Dec.2016, to stand at 38,874 cars. The deterioration goes hand in hand with Blom Bank’s PMI of 47, which signals a moderate deterioration in the health of Lebanon’s private sector economy by end-2016.    

Of total new cars registered, the number of commercial cars grew by 11.12% y-o-y to 2,548, while the number of registered passenger vehicles declined by 7.71% to reach 36,326 cars by December 2016.

In terms of sales per importer, Natco acquired the largest market share of newly registered cars grasping 18.22% of the total, followed by Century Motor Co. with 13.93%, BUMC and Rasamny Younes Motor with 13.30% and 12.38% respectively.

By Dec.2016, Japanese model-cars seized 37.02% of total passenger cars, the largest market share. Korean and European cars followed, grabbing 34.26% and 20.8% of the total market share.

Compared to the same period last year, only American and Chinese cars recorded sales increases of 14.57% and 3.79% respectively, while Japanese, Korean, and European car sales declined by 11.33%, 8.1%, and 6.9% respectively.

By 2016, the new cars market share was dominated by the Kia brand, which constituted a 19.49%share of newly registered passenger cars. Hyundai, Toyota, and Nissan followed with respective shares of 14.61%, 12.83%, and 9.83%.

Total Number of Newly-Registered Cars by December and the y-o-y % Change

6.67% Reduction in Newly-Registered Cars by December 2016

Source: AIA

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