Lebanon Vehicles Market in 2022 totaled 23,867 new sales, an 82.8% increase from the prior year. December grew for the 11th consecutive month, reporting 3,819 new vehicle registrations (+250.4%).
Market Trend and Outlook
Following the sharp fall reported in 2020 and the shy +2% scored in 2021, the light vehicles market is finally showing a robust recovery. In fact, 2022 it totaled 23,867 new sales, an 82.8% increase from the prior year. December grew for the 11th consecutive month, reporting 3,819 new vehicle registrations (+250.4%).
Looking at cumulative data from 2022 brand-wise, the leader Toyota sold 5,576 vehicles (+25.5%) with market share at 23.4%.
The strong fuel to the market recovery is represented by the main followers, with Mitsubishi in second place with 2,639 sales (+138.6%) and Mercedes in third with 2,447 (+324.8%).
In fourth place Volkswagen with 1,709 (+439.1%) followed by Kia (+108.5%), Renault (+168.0%), Audi (+270.5%), Nissan (-6.4%), Suzuki (+8.2%) and in 10th place Lexus (-7.9%).
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
