The Association of Car Importers in Lebanon (denoted as AIA) stated in its recent automotive report that “The continuous Downfall of New Cars Registered in Lebanon since 2018 to reach in January 2022 a dramatic drop of 88%. This will lead to the closing down of a number of companies and is causing the licensing of a large number of their employees and workers”.
For the month of January 2022 alone, number of sold cars recorded a total of 303 compared to 67 cars in January 2022, as the month of January 2021 was a lockdown month because of Covid. However, we may witness a further increase of car sales in the near future amid the potential governmental decision to calculate customs fees at the Sayrafa rate once the budget is approved by the parliament.
In details, during the month of January 2022, Passengers cars were distributed as follows: Japanese cars took the highest shares of 44.88%, European cars accounted for 31.68%, and Korean Cars came third measuring 9.57% of the total.
As we can see the cars sector in Lebanon is still suffering due to the devaluation of the national currency against the dollar followed by the severe drop in purchasing power and
Growth of Registered Passengers Cars by January 2022
