Lebanon Businessnews News

Flat growth for new cars market
Kia, Hyundai lead sales
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A report by the Association of Automobile Importers in Lebanon said 26,601 new cars were registered during the first nine months of 2013, up by less than two percent year-on-year.

“90 percent of registered cars were small cars with prices around $11,000. Luxury cars represent only two percent of the total new cars registered,” said Samir Homsi, Chairman of the Association. “The market’s preference for small cars is due to the increase in fuel prices, the absence of an adapted and structured public transport system, and very strong competition between car manufacturers,” he said.

The South Korean brand KIA maintained leadership in sales with 7,063 cars sold, almost equal to the figures in the same period in 2012. Its fellow South Korean manufacturer, Hyundai, came in second with 5,266, a 12.4 percent year-on-year increase. Nissan came in third, with 3,541 cars.

Chevrolet was the top selling American brand with 857 new cars. Renault maintained its lead among European cars, while Dacia had a good performance with 430 cars, a 44 percent year-on-year increase. Chinese brands saw the highest increase in sales, up by 68 percent year-on-year, with the Geely brand leading with 287 cars sold.

Luxury car sellers continue to invest in promoting their brands. Earlier this month, Saad and Trad opened a dedicated showroom for Lamborghini. “It is mandatory for Lamborghini dealers in every country to have a dedicated showroom. It resembles every other showroom around the world for this car,” said Michel Trad, major shareholder and Marketing Manager at the company. So far Lamborghini has sold two cars this year. Saad and Trad are also dealers of Fiat, Jaguar, and Bentley cars.
Reported by Nader Houella
Date Posted: Oct 18, 2013
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