A stagnating economy, tighter car loan regulations, and an increase in oil prices contributed to a huge slump in the Lebanese cars’ market. Despite recording a slight increase in commercial and passenger car sales in 2017, the car market couldn’t sustain such pressures. According to the AIA, total number of commercial and passenger cars recorded a double digit drop of 11.5% in 2018. In details, passenger cars fell by 11.3% to 33,012 and commercial cars by 13.49% to 2,289.
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The Lebanese Car Market in 2018 Largest Decline in a Decade