Iraqi auto market in 2020 falls by 16.7% as the pandemic affects sales. Full-Year sales have been 66.591, while the leader Kia (-1.5%) increases its market share by 7%, reaching over 45%.
Market Trend
The Iraqi car market has been hit in 2020 by the world-wide COVID-19 pandemic.
In 2019 the market maintained an impressive growth pace with fast speed taken across all months and Full-year sales closed at 79.980 units (+39.4%).
After starting the year negatively (-20.4%) and recovering immediately in February (+47.7%), the market quickly collapsed in March as the virus struck, followed by the sharpest drop in sales this year, which was in April when sales declined by 72.2%.
The market took a while to recover, remaining down in double-digits until it started growing again in August (+1.1%). In September the recovery was not sustained (-21.3%) but the trend quickly reversed and the entire Q4 registered double-digit growth.
Indeed, Full-Year sales for 2020 have been 66.591, reporting a decline of 16.7% compared to 2019.
Brand-wise, this year the leader Kia (-1.5%) gained 7% market share, followed by Toyota (+7.2%), which gained 4.1% share, and Hyundai -down 1 spot- which lost 8.2% share, falling 44.8%. Jeep is in 4th place and lost 16.8%, followed by Nissan which lost 24.1%.
Chevrolet reached 6th place and gained 74.6% registering the best performance in the leaderboard, followed by Chery (-4.7%) and Mitsubishi (-72.9%). Closing the leaderboard we have ChangAn and Iran Khodro (-9.8%) entering the leaderboard by jumping 1 spot.
The most sold vehicle this year remains the Kia Frontier (+22%) with 14.253 units sold, followed by the Kia Sorento (-18.4%) -up 1 spot- registering 7.518 new sales this year. The Hyundai Tucson (-45.8%) closes the podium and reports 5.934 new units sold.
