According to market sources, Lebanese car market expanded by 71.83% YOY by September 2024 to 6,686 cars.
On a monthly basis, 927 cars were sold in September 2024. The distribution of cars was as follows:
| Origin | Number of Cars Sold | Share of Total Cars Sold |
| Japanese Cars | 342 | 37% |
| European Cars | 228 | 25% |
| Chinese Cars | 164 | 18% |
| Korean Cars | 153 | 17% |
| American Cars | 40 | 4% |
| Total | 927 | 100% |
Furthermore, the leading sellers of vehicles in Lebanon were TOYOTA, KIA, and Suzuki with number of vehicles sold in September alone totaled 138, 88 and 68 respectively.
It is interesting to note that in September 2024, the share of non-gasoline cars and SUV (Hybrid, Plug-in Hybrid and Fully Electric cars) reached a total of 197 automobiles, distributed as follows:
| Type of Car | Total |
| HEV | 144 |
| EV | 32 |
| PHEV | 21 |
| Total | 197 |
Lebanon’s car sector has undergone some fluctuations in the last 4 years, and sales of passenger vehicles were significantly lower than 2019 levels when cars were still being purchased through checks. Currently, the demand for new vehicles is restricted by the absence of financing options, exacerbated by the lower purchasing power of the people, though it has been improving in the past two years.
Growth of Registered Passengers Cars by September 2024
Disclaimer:
This article is a research document that is owned and published by Blominvest Bank SAL.
No material from this publication may be modified, copied, reproduced, repackaged, republished, circulated, transmitted or redistributed directly or indirectly, in whole or in any part, without the prior written authorization of Blominvest Bank SAL.
The information and opinions contained in this document have been compiled from or arrived at in good faith from sources deemed reliable. Neither Blominvest Bank SAL, nor any of its subsidiaries or affiliates or parent company will make any representation or warranty to the accuracy or completeness of the information contained herein.
Neither the information nor any opinion expressed in this research article constitutes an offer or a recommendation to buy or sell any assets or securities, or to provide investment advice.
This research article is prepared for general circulation and is circulated for general information only.