Syria. In March Covid-19 hit an already free-falling market (-74.8%)

Syrian Vehicles Market 

Syrian Vehicles Market was hit by a huge drop in March – worsening the already awful market conditions – as non-essential businesses were closed in mid-March in order to slow down the spread of the Coronavirus. Indeed, just 175 units were sold in March (-74.8%), ending the first quarter at 1.128 (-39.3%).

It was just yesterday

Syrian vehicles market collapsed in the last years and the robust market running over 50.000 units few years is now reduced below zero, with only a few car makers still acting in the market.

Once upon a time, 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 the 2010 and 2013 the market has lost the half and then again the half in a single year, with 2014 volumes at 23.955 units. The fall continued and the negative peak was hit in 2017, when me market have lost 90% from 2010 at 7.978 units. In the 2018 sales marginally recovered at near 10.000 units, but the data on 2019 went down again, ending at 8.347 (-15.8%).

In the first two months of 2020, the market kept losing terrain, with Year to Date February sales at 953 (-18.1%).

A new Era has arrived

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

The Covid-19 was officially spread to Syria on March 14. Rojava, a Kurdish-led autonomous region in north and east Syria has taken a range of measures to prevent the spread of the disease including a region-wide curfew and the closing of all non-essential businesses as well as schools.

As a result, the vehicle market was hit by a huge drop, registering just 175 units in March (-74.8%), ending the first quarter at 1.128 (-39.3%).