Lebanon Businessnews News

Yearly car sales down
32,455 new cars sold in 2011, 40 percent Korean brands, 29 percent Japanese Nissan
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New car sales fell back by 2.8 percent during 2011 compared to the previous year. The demand for new recreational cars, however, increased during the last quarter of the year up from the first six months of the year.

According to the latest figures released by the Association of Automobile Importers in Lebanon, a total of 32, 455 new cars were sold during 2011.

Around 40 percent of the cars sold were of Korean manufacture, totaling 13, 654 units, of which 8,305 were of the Kia brand and 5,341 of the Hyundai brand.

Japanese cars came second in terms of the market share, with 9,595 units sold, mostly of the Nissan brand.

The number of European cars sold in 2011 was 6,876 units, while that of US-made cars was 2,079. Chinese made cars were the least bought with 251 units sold throughout the year.

Consequently, NATCO (National Automotive Company), Kia dealer, topped the list of car dealers in the country, acquiring 24 percent of the market share. NATCO is owned by Dagher Hayek group who are also the dealer for Citroen and Peugeot brands.

RYMCO (Rasamny Younis Motor Company), distributer of Nissan cars, had the second largest share of the 2011 automobile dealers’ market with 18.5 percent. Century Motor Company, Hyundai agent, acquired 15.8 percent of the market.
Date Posted: Jan 13, 2012
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