Lebanon Businessnews News

Drop in car sales
Kia, Hyundai, and
Toyota top the list
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The total number of registered new and imported used cars has dropped by three percent during the first quarter of 2014 in comparison with the first quarter of 2013, and 13 percent lower than the same period of 2012, according to the Association of Automobile Importers. A total of 7,796 passenger vehicles and 566 commercial vehicles were registered in quarter one of 2014.

“The strong orientation of the market toward small cars is due to high prices of fuel, the absence of a structured public transport system, and to strong competition between brands,” said Samir Homsi, President of the Association of Automobile Importers in Lebanon.

Up to 90 percent of the newly registered cars for the first quarter of 2014 are small models with low selling prices. Luxury cars with selling price above $100,000 represent only 3.5 percent of registered new cars. Korean brands are in top sales position, with NATCO selling 1,825 units of KIA and

Century Motors selling 1,614 units of Hyundai. The Japanese brand Toyota ranked third, with 937 units sold by its exclusive dealer, BUMC.

Reported by Nader Houella
Date Posted: Apr 24, 2014
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