Jordan. Car market declined 26.3% in March

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Jordanian Auto Sales
Toyota-Yaris-2020

Jordanian Auto Sales in March have worsened, as a result of the nationwide lockdown imposed by the Government on March 20. Indeed, sales reported a 26.3% drop in March with 2.090 units sold, ending the first quarter at 6.808 (-11.8%).

It was just yesterday

In the first part of last decade, the Jordan vehicles market was in a very positive track growing up from 20.016 units in 2010 to the all-time record of 69.583 units hot in 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 2018, following 5 years of losses.

In 2019, despite the very negative economic environment, the market moderately recovered with 32.081 sales (+5.7%).

However, in the first two months of 2020, the market started on the wrong foot, with Year to Date February sales at 4.718 (-3.4%).

A new Era has arrived

Said this, a new era started in March for the entire World, due to the Coronavirus outbreak.

Actually, prevention measures in the Jordan started on February 27, as the Government temporarily banned people entering from China, South Korea, and Iran. Moreover, the country announced on March 20 a nationwide shutdown that closed shops and prohibited the movement of people.

As a result, in March reported a 26.3% drop with 2.090 units sold, ending the first quarter at 6.808 (-11.8%).