Lebanon’s car sector: the downward shift October 07, 2013 12:24 AM By Paul Cochrane The Daily Star BEIRUT: Going by overall figures of new cars sold, the automotive sector is doing surprisingly well in the current economic environment, up 4.33 percent in the first eight months of the year on 2012, and in comparative terms, above the GDP forecast of 1.6 percent for 2013. Furthermore, the figures are up on last year’s August results, which grew by 7.6 percent on 2011, and the 2.1 percent growth reported in the same period in 2010. But the sector is far from being in good health and bucking the downward trend in much of the rest of the economy. Lump new car sales with the larger used car market, which accounts for around 60 percent of total sales, and overall sales are down 7 percent on last year, according to the Automobile Importers Association. Read more: dailystar.lb/Business/Lebanon/2013/Oct-07/233736-lebanons-car-sector-the-downward-shift.ashx#ixzz2gz7MG62k (The Daily Star :: Lebanon News :: dailystar.lb)
Posted on: Sun, 06 Oct 2013 22:46:14 +0000
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