According to the Association of Lebanese Car Importers, the number of new registered cars in Lebanon registered a 25% decline in March 2019 “despite the exceptional offers by all the Cars Importers in Lebanon”. In March, the number of new registered commercial and passenger cars amounted to 2,345, of which 2,183 are passenger cars and 162 are commercial cars.
The official statement by the AIA went on to say that “This situation is due to the dramatic economic and political situation prevailing in the country, to the decisions of the banks to impose a down payment of 25% and to raise the interest rate from 3.9% to 8.5% on car loans, and also to increase the interest rate on companies, which hinders their growth.”
In Q1 2019, RYMCO grasped the highest market share with 15.91% followed by NATCO with 13.53%, BUMC with 11.06%, Bassoul Heneine with 9.17% and Century Motor Co with 8.89%.
As for car brands, the top three in Q1 2019 were Kia with a market share of 14.39% followed by Nissan with 12.71% and Toyota with 10.48%.
New Passenger and Commercial Car Registrations Q1 of each year