Efforts of Car Importers Paid Off with a 3.78% Increase in New Cars Registration in 2015

According to the Association of Lebanese Car Importers, the number of newly registered commercial and passenger cars in 2015 increased by 3.78% to

41,654 cars. The improvement is the result of price reductions, aggressive promotional campaigns and after-sale services carried out by importers in reaction to the sluggish market demand.

In the festive month of December alone, the number of new registered cars increased by 3.73% year-on-year to 3,616 cars.

Interestingly, the progress in car registration in 2015 and during the month of December alone was led by passenger cars rather than commercial cars.

The number of registered commercial cars dropped by a yearly 1.12% to 2,293 cars in 2015 and fell by 8.33% in December alone to 176 cars.

In 2015, the depreciation of the Japanese yen by 2.33% and of the euro by 10% boosted the sales of Japanese and European cars, which represent a combined share of 60% in total registered passenger cars. The number of new registrations for Japanese and European cars increased by a yearly 18% to 15,166 cars and 17% to 6,951 cars, respectively.

Korean cars were knocked-off first place on the Lebanese market to second after Japanese as their number dropped from 15,490 in 2014 to 13,542 in 2015.

The importer with the largest market share in 2015 was NATCO, the importer of Kia, with an 18.07% share of the market. BUMC came in close second with a share of 16.08%, followed by 14.60% for Century Motor Co and 11.54% for Rymco. 

Car Brands, Share in Total Passenger Cars

Efforts of Car Importers Paid Off with a 3.78% Increase in New Cars Registration in 2015

 

Source: Association of Car Importers in Lebanon

 

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