Drivers race to downsize

ENAR

  Lebanon’s car sector kept the pedal to the metal in 2010, estimated to be worth around $600 million. The 6.5 percent growth clocked in October maintained the momentum set two years ago when car sales surpassed all records to reach a new benchmark. “The sector peaked in 2008 and sales have stayed there. It has been a good year all round,” said Fayez Rasamny, vice chairman of Rasamny Younis (Rymco), dealer for Nissan, GMC and Infiniti. “What is happening is the same pace in the number of cars sold, but the bottom line — our margins — have been less.” As of October, 28,404 registered new vehicles had been sold in Lebanon, an increase of 6.5 percent on the 26,664 units sold over the same period in 2009, while 27,341 units were sold in 2008, according to the Association of Car Importers in Lebanon. These figures come after the