Jordanian Auto Sales in the 2018 is falling down and data reported for the third quarter had only increased the level of lost. Year to date SEptember sales were 22.200, down a sharp 27.4%. Toyota lost only 16.4% taking the leadership ahead of Hyundai and Kia.
Jordan economy remained on a low-growth trajectory due to high structural unemployment, large external imbalances and insufficient economic reforms. GDP expanded 2.1% in Q2 compared to the same period a year earlier, supported by stronger manufacturing output and a timid rebound in construction. Data for July shows that economic activity remained weak in Q3, with industrial production contracting for the eighth consecutive month and the trade deficit widening further.
This year and next, economic growth should accelerate slightly due to increased remittances and tourism activity. However, fiscal consolidation and tighter monetary policy dampen prospects.
Jordan vehicles market hit the record in the 2014 when sales achieved the 69.583 units, before starting a declining period, with 2016 at 44.950 units and the 2017, stable at 45.312 (+0.8%), but only thanks to strong rebates and hard discount.
In the 2018 the market trend changed immediately and light vehicles sales fell down rapidly since the first quarter, when sales were 7.588 (-17.0%9 keeping the path in the second, with 7.338 units (-21.6%) and in the third, with 7.77 units (-38.0%), with Year to Date figures at 22.200 (-27.4%).
|Market||September Sales||Sales Q3||Sales 2018 YTD||Variation September||Variation Q3||Variation 2018|
Three brands dominate the competitive landscapes, Hyundai, Kia and Toyota, which hold together over 70% of market share.
Year to date 2018, containing the lost within acceptable level, the Japanese , Toyota has taken the leadership with 5.189 sales (-16.4%) ovetaking Hyundai, actually second with 4.972 sales (-40.9%) and Kia with 4.712 (-29.3%).
Research, Consulting, Data & Forecast
F2M covers intensively this market with several products developed to help any investigation required. Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2025. AutoData in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end. See details within Jordan Corner Store