Drop in Total Number of Registered New Cars in September despite Efforts to Increase Sales

According to the Association of Lebanese Car Importers, despite the increasing promotional and advertising campaigns, the number of newly registered cars fell 12% from August 2016 to September 2016. Also, as a result of “the absence of an adapted and structured public transportation”, people are shifting their preferences towards small cars, where “90% of the registered cars are small cars with low selling prices (less than $15,000)”. Hence, this change led to a fall in importers’ companies revenues.

Moreover, the total number of newly registered commercial and passenger cars marginally fell 0.92% year- on- year (y-o-y) to 30,552 cars by the third quarter (Q3) of 2016. In details, the number of registered commercial cars rose by 18.49% y-o-y to 1,973, while the number of registered passenger vehicles dropped 2.03% to reach 28,579 cars during the first 3 quarters of the year.

In terms of car brands, Kia grasped the largest share of 18.51% of newly registered passenger cars, followed by Hyundai, Toyota and Nissan with respective shares of 14.00%, 12.90%, and 9.08%.

As for sales per importer, Natco ranked first, with the largest stake of newly registered cars with 18.52% of the total, followed by Century Motor Co. with 14.27%, BUMC and RYMCO with 14.22% and 11.83%, respectively.

Breakdown of Passenger and Commercial Cars by Q3

Drop in Total Number of Registered New Cars in September despite Efforts to Increase Sales

Source: AIA

 

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