Jordanian Auto Market seems to be recovering in 2024. Sales in September reached 4,152 units (+47.1%). YTD figures totaled 28,093 units (+1.2%).
Market Trend and Outlook
Jordan’s economic growth will ease to 2.1 percent in 2024 from 2.6 percent in 2023, as tourism arrivals are likely to be lower than record-breaking levels seen last year, S&P Global Ratings said in a report. Tourism contributed about 15 percent to GDP in 2023. In the near term, the report expects American and European tourist arrivals to decline the most. On the other hand, Arab tourist arrivals, including Jordanians living abroad, should continue to prove resilient to regional tensions.
The Jordanian Vehicle Market in September totaled 4,152 sales, up 47.1%. Still, YTD figures remained sluggish at 28,093 (+1.2%).
Looking at cumulative data up to September 2024 brand-wise, the leader Toyota sold 9,099 vehicles (-17.4%) with a share at 32.4%.
In second place, Kia sold 8,366 (+85.6%) followed Changan -up 25 spots- in 3rd with 2,099 sales (+4183.7%).
Hyundai ranked in 4th with 1,847 sales (-64.8%) followed by MG -down 2 spots- at 1,245 (-64.8%), Nissan -down 1 spot – at 799 (-12.3%), Mitsubishi -up 1 spot- at 531 (-2.4%), Lexus -up 4 spots- at 520 (+60%), Chevrolet -down 2 spots- at 453 (-17.3%) and in 10th place Isuzu -down 4 spots- at 432 (-23.5%).
Looking at specific models the Toyota Land Cruiser P/U became the best seller, with a 90% year-on-year increase in sales, followed by the Kia Sorento up 444.1%.
Medium-Term Market Trend
The Automotive industry in Jordan grew up the first years of this century peaking in the 2014, when the all time record was achieved with 69.583 sales.
In the following years the progressively declined hitting a lower peak in the 2020, the year of the virus, with only 30.529 vehicles sold, less than the half of the record.
In 2021 the market was still shy and the recovery limited at 1.3% while in 2022 it boomed 26.7% to 36,901 total sales, the highest level in the last 5 years.
Next years perspectives are uncertain with economic outlook not positive and Levant area involved in international crisis with unpredictable effects.
Tables with sales figures
In the tables below we report sales for Top 10 Brands and top 10 Models.
