Lebanese Cars Market in the third quarter had stopped the fall despite the surrounding economic environment remains grim. Sales in the quarter were 13.999 (+7.2%) reducing the year to date fall at 6.4%. Toyota is leader despite having lost 29%.
Economic predicament remains grim. The colossal public debt burden continues to rise, reaching USD 82.9 billion at the end of Q2, while the fiscal deficit soared in the first four months of the year, partly on a greater drag by the state electricity firm. Moreover, the August PMI showed an ongoing worsening in private-sector business conditions, with lower output and new orders.
Continued political impasse is a major downside risk to the economy, which is already expected to grow sluggishly this year and next. Large twin deficits and a rising public debt burden, which are unlikely to improve significantly over the forecast horizon, further cloud the panorama.
Lebanese vehicles market in recent years has been stable despite tensions within the region and was sustained by a resilient economy. Indeed between 2012 and 2016 sales were between 32.000 and 38.000 units, before to find new propellent in the 2017, when demand for light commercial vehicles was strong, to jump up. Indeed, according to data release by the local Association of Car Manufacturers, in the 2017 light vehicles sales have been 52.120.
In the 2018 the light vehicles market is in crisis. Sales are declining since the start, with the first quarter ended at 8.817 (-17.7%), the second 10.008 (-14.2%) but a sunshine was seen in the third, with sales at 13.999 (+7.2%) with Year to Date figures at 33.318 (-6.4%).
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Brand-wise, the market leader is Toyota with 7.238 sales (-29.7%) with 21.7% of market share, followed by Nissan with 5.872 (+70.9%), Kia, which is the leader in the car passenger’s segment, with 4.734 units (-8.3%) and Hyundai with 2.490 (-27.9%).
Research, Consulting, Data & Forecast
F2M covers intensively this market with several products developed to help any investigation required. Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2025. AutoData in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end. See details within Lebanon Corner Store.