According to market sources, Lebanese car market expanded by 48.01% YOY by August 2024 to 5,759 cars.
On a monthly basis, 447 cars were sold in August 2024. The distribution of cars was as follows:
Furthermore, the leading sellers of vehicles in Lebanon were TOYOTA and KIA with number of vehicles sold in August alone totaled 57 and 56 respectively.
It is interesting to note that in August 2024, the share of non-gasoline cars and SUV (Hybrid, Plug-in Hybrid and Fully Electric cars) reached a total of 39 automobiles, distributed as follows:
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 discounted checks at the beginning of the crisis. Currently, the demand for new vehicles is restricted by the absence of financing options, exacerbated by the lower purchasing power of the people.
Growth of Registered Passengers Cars by August 2024
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