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by Richard Kent November 5, 2013

written by Richard Kent November 5, 2013

In a gloomy economic climate, new car sales increased just 1.76 percent in the first nine months of the year on 2012, compared to 7.37 percent reported last September on 2011, and 2.1 percent in 2010. The used car market is faring even worse, with sales down 15.5 percent last month in comparison with September 2012. It seems Lebanese banks have been doing their utmost to keep the market saturated and have attempted to accommodate for buyers’ preference for new cars by offering rock bottom interest rates on new models. The 7 percent overall drop in the sale of new and imported used cars in the first nine months of the year has increased competition between dealers. It has given consumers the opportunity to snap up particularly low interest rate car loans — which the Lebanese Automobile Importers Association (AIA) claims that 60-70 percent of all new car sales are

Richard Kent

With 15 years of experience in non-profit and multilateral research organizations, business, and investigative journalism, Kent has led research, investigations, advocacy, and campaigns at Global Witness and Amnesty International Secretariat. Their work has primarily focused on human rights, the environment, sustainable finance, and anti-corruption, particularly in the mining, energy transition, and forest commodities sectors. He has a background in commodities and natural resources, specializing in Responsible Sourcing and Sustainability in supply and value chains across industries such as mining, energy, agribusiness, automobile, and consumer electronics. He played a key role in shaping the EU Battery Regulation and revising international business and human rights standards at the OECD, as well as industry benchmarks on responsible mining and sourcing.

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Deals on wheels
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