Sales of new vehicles in Lebanon drop by 69 pct in first four months of 2020

Sales of new vehicles in Lebanon in the first four months of 2020 dropped by 69 percent over the same period last year, given the deteriorating economic situation, Elnashra, local independent newspaper, reported on Tuesday.

Car companies sold 2,532 new vehicles in the first four months in 2020, compared to 8,102 for the same period last year, while they have only sold 188 new vehicles in April compared to 2,168 during the same month last year.

The country has been plagued by a deteriorating economic situation. Also, car importers have not been able to have easy access to U.S. currency to import cars which contributed to the increase in prices of new vehicles.

At the same time, the COVID-19 outbreak in Lebanon prompted companies to close for a long time.