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Cars Market in Lebanon

Cars Market in Lebanon

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Published by Latasha Lopez
About Cars Market in Lebanon
About Cars Market in Lebanon

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Published by: Latasha Lopez on Nov 25, 2009
Copyright:Attribution Non-commercial

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09/11/2010

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Cars Market In Lebanon
It is true that Lebanon is a very small country, but thecar market in Lebanon is somehow enormous. In Lebanon,we have an oligopolistic market where there are a fewsellers all of whom are highly sensitive to each other’spricing and marketing strategies. The moment onecompany sets a low price, or follows some sort of a goodstrategy, all the others do the same. Moreover, it is verydifficult for a new company to enter this market.When we talk about the concept of “buying a car”, wehave to take in consideration: _Who buys cars in Lebanon. _Who sells cars in Lebanon. _Where the cars are mostly sold. _What the customer looks for in a car. _What the dealers are making to satisfy theircustomers.In addition to some other information… After some readings and some interviews, we foundout that about 98% of Lebanese people would like to own acar, and about 90% of them have cars, ( not necessarilyindividually , it may belong to the father, to the mother,meaning in the family and they can drive it whenever thewant). The 10% that do not have a car consist mainly of people who live in small counties; where they have old
 
mentalities and old ways of thinking; somehow far fromcivilization and technology. There are about 4 millionLebanese people in Lebanon, and there are more than 2million registered cars spread on all the Lebaneseterritories, but mostly in Beirut, isn’t this a disaster?!Even though the economical situation in Lebanon is goingdown, but it seems that the personal consumptionexpenditure will rise at an estimated 4% annual rate in the3
rd
and 4
th
quarters of year 2000. Dealership showroomsare busy and will deliver new vehicles. With consumerconfidence, less unemployment and real earnings on theupswing, the future is bright for the automotive industry.Car sales in year 2000 will be up. Sports utility vehicles arethe biggest sales gainer, up about 14% with almost everymanufacturer now offering a sports utility model.Another faction of the local automotive business, the highlycompetitive used car market, is revving up in Lebanon.Local dealers say a quality supply of used cars is helpingbring in customers who may not be able to afford a newcar. "If there is any trend right now, it's an increase in the
 
used car market”. In recent years, savvy customers canfind these deals cheaper than payments for a new car.What does the customer look for when buying a car?
 
pricing:
 The great news for consumers was “flat pricing” for1998 models. Automakers have largely held the lineon prices for 1998 models. They were avoiding theneed to increase prices with gains in productivity,rigid internal cost controls and working closely withsuppliers to hold down costs. When prices do rise,buyers usually get more in standard features, likepower windows, upgraded audio equipment and anti-lock brakes. In some cases, the 1998 models werelower in prices than the 1997s. In addition, somemanufacturers have been offering rebates on 2000models. Khoury co, for example, the dealers of Chrysler in Lebanon, was exposing the new Neonduring Lebanon Motor Show 2000 with an attractiveprice

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