Iraqi Cars Sales in October 2023 grows for the 9th month this year, with new registrations at 12,459 (+19.6%). YTD figures at 104,509 are up 25.2% from the previous year.
Market Trend and Outlook
The Iraqi vehicle market in October 2023 grows for the 9th month this year, with new registrations at 12,459 (+19.6%). YTD figures at 104,509 are up 25.2% from the previous year.
Looking at cumulative data up to October 2023 brand-wise, the leader is Kia with 27,325 vehicles sold (+12.1%), followed closely by Toyota with 26,088 sales (+26.0%).
In third place ranks Hyundai with 12,195 new registrations, an 55.5% increase from the prior year. MG follows in 4th with 10,779 sales (+138.5%), in front of Chevrolet at 4,392 (+9.1%), Chery at 3,176 (-29.9%) and Suzuki in 7th -up 2 spots- with 2,927 cumulative sales (+84.4%).
GMC rises 3 spots into 8th spot with 2,188 sales (+86.7%), followed by Changan at 2,040 (+3.7%) and Great Wall, closing the top 10 with 1,754 new registrations reported this year (+96.0%).
Looking at specific models the Kia Frontier remains the best seller despite losing 28.4% in year-on-year sales, followed by the Toyota Hilux, up 17.5%.
Medium-Term Market Trend
The internal war against ISIS and the consequence for the economic and social aspects, pushed down the Iraq automotive industry in 2014-2016, after a period of sustained growth.
The market peaked down in 2016 with sales below the 40K, but since 2017 a long term growth in place.
Indeed in 2020 the pandemic arrival breaked the growth with sales down 16.7%, but it was a temporary stock and since 2021 the market is back on track.
Sales, in fact, in 2022 grew 26.7% to 107,990, the highest level of yearly volume in the last 8 years.
Tables with sales figures
In the tables below we report sales for top 10 Brands and top 10 models.