Iraqi Cars Sales in 2023 grew by double-digits. Total sales reached 127,749 units (+18.4%). The rivalry between Kia and Toyota, sees Kia maintaining leadership for few sales.
Market Trend and Outlook
The Iraqi vehicle market in 2023 totalled 127,749 sales, while increasing by 18.4%. December decreases by 4.9% and interrupts a 9 month positive streak, closing with 11,207 new sales.
Looking at cumulative data up to December 2023 brand-wise, the leader is Kia with 32,547 vehicles sold (+8.8%), followed closely by Toyota with 32,204 sales (+21.3%).
In third place ranks Hyundai with 14,807 new registrations, an 35.6% increase from the prior year. MG -up 1 spot- follows in 4th with 12,700 sales (+135.4%), in front of Chevrolet -up 1 spot- at 5,449 (+6.3%), Chery -down 2 spots- at 4,656 (-29.5%) and Suzuki in 7th with 3,353 cumulative sales (+18.5%).
Changan maintains 8th spot with 3,102 sales (+9.8%), followed by GMC -up 4 spots- at 2,542 (+81.3%) and Great Wall -up 6 spots-, closing the top 10 with 2,110 new registrations reported this year (+110.8%).
Looking at specific models the Kia Frontier remains the best seller despite losing 26.1% in year-on-year sales, followed by the Toyota Hilux, up 10.8%.
Medium-Term Market Trend
The internal war against ISIS and the consequence for the economic and social aspects, pushed down the Iraq automotive industry in 2014-2016, after a period of sustained growth.
The market peaked down in 2016 with sales below the 40K, but since 2017 a long term growth in place.
Indeed in 2020 the pandemic arrival breaked the growth with sales down 16.7%, but it was a temporary stock and since 2021 the market is back on track.
Sales, in fact, in 2022 grew 26.7% to 107,990, the highest level of yearly volume in the last 8 years.
Tables with sales figures
In the tables below we report sales for top 10 Brands and top 10 models.
