Lebanon Businessnews News

New car sales flat
Koreans still in the lead
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The number of new cars sold in the first half of 2013 stood at 17,110 cars inching up by 1.5 percent compared to the first half of last year, according to the Association of Automobile Importers in Lebanon (AIA).

Korean carmakers maintained their top position, with KIA motors grabbing 28 percent of the market share, selling 4,733 cars, and Hyundai selling 3,455 cars. Nissan remained the leader in the Japanese segment, with 2,218 cars sold, a ten percent drop year-on-year. Renault took the lead in the European car category with 468 cars, up by five percent, followed by Volkswagen, with 404 cars.

More consumers are becoming increasingly price-oriented, even compromising on safety options for the sake of low prices. The rising trend is in the A-segment cars with 1.2 to 1.4 engines. According to major car agents, efficiency, low cost, and ease of drive are the main factors affecting consumers’ decisions to buy a new car.

When financing their car purchases, consumers first consider the amount of the monthly payments and the duration of the car loan. Most cash payments are done through trade-in procedures. “The orientation of the market toward small cars is due to the rise in fuel prices, the absence of an adapted and structured public transport system, and the strong competition between car makers,” said Samir Homsi, President of the AIA.

Sales also increased in the commercial vehicle segment. Toyota took the lead with 219 vehicles, up from 154 in the same period in 2012, followed by Dacia and Hino, with123 and 122 vehicles respectively.

Reported by Nader Houella
Date Posted: Jul 19, 2013
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