New cars sales in May up 16 percent year-on-year

According to figures released by the association of car importers in Lebanon, 3,433 new passenger and commercial vehicles were registered in May 2012, constituting a year-on-year increase of 16 percent. On a cumulative basis, registration of new passenger and commercial cars jumped by 13.96 percent to reach 14,364 during the first five months of 2012 as opposed to 12,604 recorded a year earlier. Sales of Korean vehicles advanced 25.47 percent to 6,232 as demand for Hyundai and Kia Brands rallied 18.42 percent and 30.34 percent, respectively. Sales of Japanese cars increased by 4 percent year-on-year to 4,211, while European car-makers came in third place, rising by 4.7 percent to 2,960 vehicles. As for U.S. brands, they jumped by 25.6 percent up to May 2012 to reach 834 cars compared to 664 registered a year earlier, while sales of Chinese vehicles increased by 30.93 percent to 127. By The Daily Star