Cars Market In Lebanon

Cars Market In Lebanon - Cars Market In Lebanon

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Cars Market In Lebanon It is true that Lebanon is a very small country, but the car  market in Lebanon is somehow enormous. In Lebanon, we have an  oligopolistic market where there are a few sellers all of whom are  highly sensitive to each other’s pricing and marketing strategies.  The moment one company sets a low price, or follows some sort of  a good strategy, all the others do the same. Moreover, it is very  difficult for a new company to enter this market. When we talk about the concept of “buying a car”, we have 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 their customers. In addition to some other information…   After some readings and some interviews, we found out that  about 98% of Lebanese people would like to own a car, and about  90% of them have cars, ( not necessarily individually , it may belong  to the father, to the mother, meaning in the family and they can 
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drive it whenever the want). 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 from civilization  and technology.  There are  about 4 million Lebanese people in  Lebanon, and there are more than 2 million registered cars spread  on all the Lebanese territories, but mostly in Beirut, isn’t this a  disaster?! Even though the economical situation in Lebanon is going down,  but it seems that the personal consumption expenditure will rise at  an estimated 4% annual rate in the 3 rd   and 4 th   quarters of year  2000.   Dealership   showrooms   are   busy   and   will   deliver   new  vehicles. With consumer confidence, less unemployment and real  earnings on the upswing, the future is bright for the automotive  industry. Car sales in year 2000 will be up. Sports utility vehicles  are  the  biggest  sales   gainer,   up  about   14%  with  almost   every  manufacturer now offering a sports utility model.
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Another   faction   of   the   local   automotive   business,   the   highly  competitive   used   car   market,   is   revving   up   in   Lebanon.   Local  dealers   say   a   quality   supply   of   used   cars   is   helping   bring   in  customers who may not be able to afford a new car. "If there is any  trend right now, it's an increase in the used car market”. In recent  years,   savvy   customers   can   find   these   deals   cheaper   than  payments for a new car. What does the customer look for when buying a car?
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This note was uploaded on 05/21/2011 for the course ACCT 101 taught by Professor All during the Spring '11 term at Kaplan University.

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Cars Market In Lebanon - Cars Market In Lebanon

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