The slump in the car market persisted in Q1 of 2020, as the number of new registered “commercial” and “passenger” cars retreated yearly by 60.6% from 6,320 by March 2019 to stand at 2,493 cars by March 2020 according to the data provided by the Association of Lebanese Car Importers (AIA).
In details, the breakdown of the AIA’s statistics revealed that the number of newly registered “passenger” cars dropped by 60.50% year-on-year (y-o-y) to settle at 2,344 cars. In turn, the number of new registered “commercial” vehicles contracted by a yearly 61.40% to 149 cars.
According to BlomInvest statistics, in terms of sales per car importer, RASAMNY YOUNIS MOTOR CO.SAL ranked first contributing to 13.80% of total sales over the period. NATCO followed with a share of 12.68%, and Bassoul Heneine SAL with 11.51%
Total Car Registrations in Q1
Source: AIA, BlominvestBank