Iraq 2018. Hyundai shines in a market fast recovering

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Iraqi Cars Sales
Kia-Stonic-2018

Iraqi Cars Sales have taken a positive pathway and ended the 2018 with a robust +44.7% at 57.468 units taking full benefit from the end of the war with terrorists. While many OEMs are coming back in the country, Kia dominates with a market share over 50%.

Economic Environment

Iraqi economy grew in the third quarter at a meager rate over the same period a year earlier despite strong oil production and elevated prices for the black gold through late September. Oil production picked up noticeably in the quarter, but production moderated in October and November—partly due to bad weather in the Gulf region—which, coupled with plunging oil prices, will have dragged on the economy in the fourth quarter.

Downside risks remain abound. Iraq is a key supplier of oil to China, and a prolonged economic slowdown there would dent Iraq’s economy. Moreover, low oil prices risk Iraq’s postwar recovery and rebuilding efforts. A potential resurgence of armed conflict further clouds the outlook.

Market Trend

Iraqi automotive industry was the second largest in the Middle East – after Iran – before the become field of the war between US and Terrorists, which devastated the country for near 15 years. The market was over the 250k units twenty years ago. Then collapsed falling at few thousand units and then recovered up to 164.545 in the 2010, when peace seemed to have been finally established.

However, the growth of terrorism created again a conflict and vehicles demand dropped again with sales falling down for sixth consecutive years (2010-2016) at a negative peak of 32.731 in the 2016.

Then the market stabilized in the 2017 with a little growth at 39.601 and then, ended the war, in the 2018 a robust recovery started with sales grew up 57.468 units and with positive perspectives for the next years.

Tables with sales figures

In the tables below we report sales for top 10 Brands and top 10 Models

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