Kazakhstan 2023. Vehicle Market Hit New Record Sales Booming +61%

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Kazakhstan vehicles market hit the record last year. In 2023 sales reaches 198,842 units (+61.0%) fixing the new all time record beating the previous record done in 2015. Chery (+174%) is now close to the podium.

Market Trend and Outlook

Kazakhstan occupies a leading position in terms of gross domestic product (GDP) among the countries of Central Asia and the Commonwealth of Independent States (CIS), reported Finprom financial and business analytical service on Dec. 25, referring to the International Monetary Fund’s (IMF) World Economic Outlook

Kazakhstan’s vehicle market in 2023 reaches 198,842 sales (+61.0%) and fixing the new all time record beating the previous record done in 2015. December rises for the 14th consecutive month, with new vehicle registrations at 23,524 (+71.0%). 

Looking at cumulative data up to December 2023  brand-wise, Hyundai becomes the new segment leader with 47,181 sales (+58.2%), followed by Chevrolet -down 1 spot- in second with 45,807 (+33.6%) and Kia in 3rd with 25,495 (+76.8%).

Chery rises 2 spots into 4th position with 12,259 sales (+174.9%), in front of Toyota -down 1 spot- with 10,813 (+12.6%), JAC -up 1 spot- at 8,750 (+105.1%) and Haval -up 4 spots- with 7,809 cumulative registrations (+420.6%).

Changan jumps 17 spots into 8th with 6,087 sales, followed by Jetour -down 1 spot-  with 3,930 and Exeed closing the Top 10 at 3,884 registrations (+109.6%).

Looking at specific models the best selling car is the Chevrolet Cobalt which rose 31.3% this year, in front of the Hyundai Tucson in 2nd with a 62.9% year-on-year increase in sales.

Medium-Term Market Trend

Kazakhstan’s vehicle market increased substantially from 2010 to 2014, reporting triple digit growths in 2011 and 2012, with sales in 2014 ending at the current all-time high of 150,330. Subsequently in 2015 demand for light commercial vehicles fell 39.4%, reaching 44,388 by the end of 2016 (-51.3%). In 2017 the market rebounded, with sales growing back up to 71,994 by the end of 2019.

The arrival of the pandemic in 2020 didn’t halt the momentum gained in the previous years, with sales amounting to 92,963.

In 2021 sales continued to increase reaching 119,445. While in 2022 the market slowed down, growing just 1.8% to 121,647 cumulative new registrations. Demand is falling because of the higher prices imposed by Manufacturers. Brands in fact are upping prices to combat the lack of raw materials in particular for the production of micro-chips. This shortage has created a disruption in the global supply chain, that has affected vehicle demand world wide.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

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