Syria’s Vehicle Market in 2024 grew 18.3% despite the adverse conditions. Still, it remained heavily affected, with figures well below pre-war levels.
Market Trend and Outlook
Syria’s economic conditions continue to deteriorate, due to prolonged conflict, low crop yields, soaring food prices, and reduced humanitarian aid, with GDP expected to contract by 1.5% in 2024 and 1.0% in 2025. Extreme poverty is projected to rise sharply, reaching 33.1% in 2024 and 37.4% in 2025, following a steady decline in per-capita GDP. Economic uncertainty remains exceptionally high, further straining living conditions and deepening the country’s humanitarian crisis.
The Syrian vehicle market in 2024 reported 18.3% grow, nevertheless, sales have been contracting continuously for the last 8 years and is still way below pre-war figures.
The only brands to be sold in the country at the moment is Hyundai, gaining 18.3% in 2024.
Looking at brands, the Hyundai HR Truck ranked 1st despite dropping 38.6%, followed by the Hyundai H-1.
Medium-Term Market Trend
Not long ago Syria was the biggest car market in the Levant region. Only 10 years ago, with a volume of 87,500 annual sales, the Syrian new market represented a relevant reality within the region. Unfortunately, in this decade the country was destroyed by the civil war and terrorism and the entire economic structure collapsed, including the automotive industry.
Between 2010 and 2013 the market has lost more than half its sales a single year, with 2014 volumes at 23,955 units. The fall continued and the negative peak was hit in 2017 when the market lost 90% from 2010 at 7,978 units. In 2018 sales marginally recovered at near 10,000 units, but the data on 2019 was down again. In fact, total sales in 2019 were 8,347, down 15.8%.
Because of the COVID-19 pandemic, social and political instabilities in the country sales significantly decreased in 2020. In fact, sales have been 2,941, reporting a fall of 64.8% compared to 2019.
The downfall continued in 2021 with new light vehicle sales falling another 33.4% to 1,958.
