New car sales
From 21,991 in 2019
To 4,702 in 2021
The economic-financial crisis that surfaced in Lebanon since late 2019, along with the appreciation of US dollar and other foreign currencies against Lebanese pound, have caused a deep economic recession and a decrease in imports. Among the goods and vehicles whose imports and sales volume have declined are the new cars. In light of bank restrictions on cash withdrawals and car loans, the new car market has witnessed slower sales activity. The following table shows that during the years 2015 to 2021, the number of new cars sold has declined by 34,659 or 88%. It has plummeted to 4,701 in 2021, down from 6,152 in 2020 and 21,991 in 2019.
A table showing the number of new cars sold during the years 2015 to 2021.
Source: Information International based on AIA figures.