Iraq Cars Market up 21% in the 2017 following the previous three years of sharp decline. However the new war against the Kurdistan Regional Government (KRG) following the independence referendum can limit the economic recovery.
Political unrest remains high in the Kurdish region, as sanctions imposed by Baghdad are still in place. Prime Minister Haider al-Abadi claims that the Kurdish Regional Government (KRG) must fully nullify the results of the September independence referendum and hand over the border crossing to the federal government before talks can begin. Political unrest is affecting the approval of the 2018 budget.
Iraqi automotive industry has collapsed in the period 2014-2016 losing near two-thirds of the volume.
The end of war to ISIS and a recovery in oil price have supported the market to recovery during the 2017, with sales up at 39.601 (+21.0%) creating ground for a strong acceleration during the 2018. However, rising tensions with Kurdistan region could further hit the economy and the sector.
With a market share of 41.7%, Kia dominates the market and during the year sold 16.500 vehicles (+45.5%). Toyota was second with 6.277 sales (+0.9%) followed by Nissan, protagonist of a strong sales acceleration with 5.390 sales (+65.9%).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models