According to the data revealed by “Rasamny Younis Motor sal”, Lebanese car market improved by 35.64% YOY by July 2023. In more details, for the period ending July 2023, the cumulative number of sold cars recorded a total of 3,798 compared to 2,800 cars by July 2022.
On a monthly basis, 163 cars were sold in the month of July 2023 compared to 1030 in the previous month of June. In July, cars were distributed as follows: Japanese cars took the highest share of 29%, Korean cars accounted for 28%, and European Cars grasped 18% of the total. Interestingly, Chinese cars accounted for a higher percentage of 12% of total cars sold in July 2023 compared to 8% in the previous month of June 2023. Furthermore, the leading sellers of vehicles in Lebanon are Kia, Hyundai and Nissan with number of vehicles sold in the month of July alone totalled 27, 19, and 17 respectively, out of 163 sold cars.
Growth of Registered Passengers Cars by July 2023
Source: Rasamny Younis Motor sal, BLOMINVEST Bank