Lebanon Vehicles Market in September 2023 grows for the 7th month this year, reporting 2,018 new registrations (+1.0%). YTD figures at 19,113 are up 32.2% from the previous year. Nissan reports the best performance in the Top 10 (+210.6%).
Market Trend and Outlook
The Lebanese vehicle market in September 2023 grows for the 7th month this year, reporting 2,018 new registrations (+1.0%). YTD figures at 19,113 are up 32.2% from the previous year.
Looking at cumulative data up to September 2023 brand-wise, the leader Toyota sold 6,464 vehicles (+63.4%) with market share at 33.8%.
Nissan jumps 4 spots into in second place with 2,249 sales (+210.6%) and Mitsubishi in third with 1,504 (-26.3%).
In fourth place Renault with 1,366 (+57.0%), followed by Kia at 114 (+17.6%), Mercedes at 1,110 (+26.7%), Lexus at 940 (+66.4%), Volkswagen at 813 (+40.2%), BMW at 494 (+82.3%) and in 10th place MG at 442 (+30.4%).
Looking at cumulative data the Nissan Sunny becomes new the best selling model rising 729.7% in year-on-year sales and 7 spots in the rankings. The Toyota Hilux makes it into 2nd rising 1 spot (+41.2%)
Medium-Term Market Trend
The car market was stable in the range of 35K to 45K, apart the peak achieved in 2017 when the all time record was established at 52,916.
In the following two years, the hard economic difficulties due to the reduced price of oil and the huge number of refugee from Syria, reduced the industry at 34,258 (2019) which was the lowest in 10 years.
The covid 19 spread severely hit the market in 2020 with a huge 62.2% fall, one of the sharpest in the World, to only 12,934 units and even today the market is not recovering.
Indeed, in 2021 the increase was at mere 2% and this year the trend is only moderately positive, while annual volumes are at the lowest in the last 30 years.
Tables with sales figures
In the tables below we report sales for Top 10 Brands and the Top 10 Models
