Iraq Automotive outlook is still full of shadow while the just published market study projects volumes to double between the 2017 and the 2022. Therefore, in recent years market collapsed at very small level.
Iraq Automotive industry is potentially a large market for vehicles, so far blocked by negative environment. The war against terrorists that have occupied and destroyed a relevant portion of national territory is limiting the growth of the country, with destruction in the existing infrastructures and no investments for new one.
In the years 2010-2011, the Government has put in place a plan to support foreign investments to produce locally new vehicles, but the war crisis has blocked any plan. Now, during the 2016 has been announced again the project to produce locally
Kia and Chery are the first announcing plans to fast open a local activity (Kia is on top of local sales since years and is very strong all Levant countries), but the sharp fall on demand with the full year sales volume dropped below the 30.000 units (from over 130.000 five years ago) put shadow over any plans.
Iranian Car Manufacturers announced plan to produce in Iraq as well, but there is not yet evidence for their presence.
Our experts vision for the future is positive, with 2017 seen in strong recovery after having bottomed out in recent years. Vehicles sales volume are projected to over double for the 2022.
Having completed all studies on the market, we have just opened the IRAQ CORNER STORE publishing two new research, one featuring out market data and trend since 2005 and a second with additional sales forecast for segments and brands up to the 2022.