According to the data revealed by “Rasamny Younis Motor sal”, Lebanese car market deteriorated by 21.38% YOY by November 2023. In more details, for the period ending November 2023, the cumulative number of sold cars recorded a total of 4,898 compared to 6,230 cars by November 2022.
On a monthly basis, 1,007 cars were sold in the month of November 2023. It is worth mentioning that no cars were registered in the previous months of August, September and October since the Association of imported automobiles in Lebanon (AIA) was closed. The distribution of cars was as follows: Japanese cars took the highest share of 40%, European cars accounted for 26%, and Korean Cars grasped 18% of the total. Furthermore, the leading sellers of vehicles in Lebanon are Toyota, Kia and Hyundai with number of vehicles sold in the month of November alone totalled 243, 104, and 81 respectively, out of 1,007 sold cars.
Growth of Registered Passengers Cars by November 2023
Source: Rasamny Younis Motor sal, BLOMINVEST Bank