Jordan. Kia struggled (-34.8%) in a moderately positive market

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Jordanian Auto Sales
Mazda-CX-30_UK-Version-2020

Jordanian Auto Sales in 2019 has moderately recovered following the previous 5 years of consecutive fall. Indeed, Total sales in 2019 have been 32.081 (+5.7%). Toyota was the market leader winning the battle against Hyundai while the third brand, Kia, has heavily struggled losing over 30%.

Economic Environment

Jordan economy accelerated slightly in Q3, buttressed by a large contribution from the finance, insurance and business services sector. However, the expansion remained weak by historical standards, weighed on by stalled construction activity. Meanwhile, the unemployment rate dipped to 19.1% in Q3 from Q2’s over one-decade high of 19.2%. Turning to Q4, available data is mixed.

On the one hand, industrial production contracted for the seventh consecutive month in October. However, merchandise exports increased again in October compared to the same month a year earlier, contributing to a notable narrowing of the trade deficit in January–October.

Market Trend

In the first part of this decade, the Jordan vehicles market was in a very positive track growing up from 20.016 units in the 2010 to the all time record of 69.583 units hot in the 2014.

The growth was really too fast and when the economic environment started to deteriorate, due to the high public expenses correlated with profugues and low internal demand, the auto market declined. Initially the negative trend was at acceptable speed with 2015 sales down at 61.774, still the second best ever level, and then very fast, reaching out 30.353 units in the 2018, following 5 years of lost.

In 2019, despite the very negative economic environment, the market moderately recovered. Indeed, Total sales in 2019 have been 32.081 (+5.7%).

Three brands dominated the market, Toyota, Hyundai and Kia holding together a share of 65%.

In the market magic moment (2010-2014) Toyota has lost share declining from 17% to 14%, but as the market kept the fall, Toyota share grew up with a record of 28.8% in the 2016, while in 2019 signed the new record at 30.1%.

Hyundai boomed in the period 2010-2014, with share up from 41% to 45%, but since 2015 is struggling with 2018 at a negative peak of 21%, while in 2019 has marginally recovered at 23.9%.

Kia has been more stable, with over 20% of share, while since the 2018 is really struggling losing deeply and ending the 2019 at just 10.7%.

Service Solutions

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