Lebanese Car Importers: Coping with the Consumers’ Tighter Wallets

According to the Association of Car Importers in Lebanon, the downward trend in new car registrations extended to the first half of 2015 (H1 2015). The total number of new registered cars totaled 19,171 in H1 2015, down by 2% from 19,555 registered in the same period of 2014. The downturn was seen in both the number of new passenger and commercial vehicles which dropped by a yearly 2% and 4% to reach 18,047 and 1,124, respectively.

The slump is still tightly linked to the poor overall economic backdrop and the recent restriction on retail loans. The slower economic growth, has weighed on consumers’ purchasing power and durable goods demand. More pressure has been added on the car purchaser since a tighter lid was imposed on all retail loan conditions, more particularly compelling a 25% down payment on car loans. Already back in 2014, consumers were adapting their choices to a smaller budget and choosing small cars with price tags below $15,000. Therefore more strain has now been added on the consumers with small budgets…

To read the full report, click on the link below:

Lebanese Car Importers Coping with the Consumers’ Tighter Wallets

One thought on “Lebanese Car Importers: Coping with the Consumers’ Tighter Wallets

Leave a Reply

Your email address will not be published. Required fields are marked *