According to market sources, cumulative Lebanese car market expanded by 25.05% year over year (YoY) by December 2024 to 8,226 cars.
On a monthly basis, 637 cars were sold in December 2024. The distribution of cars was as follows:
| Number of Cars Sold | Share of Total Cars Sold | |
| Japanese Cars | 243 | 38% |
| Chinese Cars | 130 | 20% |
| Korean Cars | 125 | 20% |
| European Cars | 118 | 19% |
| American Cars | 21 | 3% |
| Total | 637 | 100% |
Furthermore, the leading sellers of vehicles in Lebanon were Toyota, GAC (Trumpchi), and Kia with number of vehicles sold in December alone totaled 81, 76 and 69 respectively.
It is interesting to note that in December 2024, the share of non-gasoline cars and SUV (Hybrid, Plug-in Hybrid and Fully Electric cars) recorded a total of 121 automobiles, distributed as follows:
| Type of Car | Total |
| HEV | 88 |
| EV | 29 |
| PHEV | 4 |
| Total | 121 |
Lebanon’s car sector expanded since 2021; however, 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 improved in the past couple of years.
Growth of Registered Passenger Cars in 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.