Syrian Vehicles Market in 2019 lost terrain again and Total sales in 2019 have been are 8.347, down 15.8%. The market have lost over 90% of volume in the last 10 years and the poor economic conditions added to the lack ness of paved road infrastructures represent a huge limit to the next year recovery.
Economic Environment
In its eighth year, the conflict in Syria continued to take a heavy toll on the life of Syrian people and on the Syrian economy. The death toll in Syria directly related to the conflict as of early 2016 is estimated between 400,000 (UN, Apr 2016) and 470,000 (Syrian Center for Policy Research, Feb 2016), with many more injured, and lives upheaved. About 6.2 million people, including 2.5 million children, are internally displaced and over 5.6 million are officially registered as refugees (UNHCR, 2019).
The social and economic impacts of the conflict are also large, and growing. The lack of sustained access to health care, education, housing, and food have exacerbated the impact of the conflict and pushed millions of people into unemployment and poverty. In addition, a severe decline in oil receipts and disruptions of trade has placed even more pressure on Syria’s external balances, resulting in the rapid depletion of its international reserves.
Market Trend
Syrian vehicles market collapsed in the last years and the robust market running over 50.000 units few years is now reduced below zero, with only a few car makers still acting in the market.
Once upon a time Syria was the biggest car market in the Levant region. Only 10 years ago, with a volume of 87.500 annual sales, the Syrian new market represented a relevant reality within the region. Unfortunately, in this decade the country was destroyed by the civil war and terrorism and the entire economic structure collapsed, including the automotive industry.
Between the 2010 and the 2013 the market has lost the half and then again the half in a single year, with 2014 volumes at 23.955 units. The fall continued and the negative peak was hit in the 2017, when me market have lost 90% from 2010 at 7.978 units. In the 2018 sales marginally recovered at near 10.000 units, but the data on 2019 went down again.
Indeed, Total sales in 2019 have been are 8.347, down 15.8%.
Almost all manufacturers have abandoned the country and just the Koreans, leaders in the entire Levant region, are active in the country, with Hyundai holding 70.3% of market share in 2019.
Service Solutions
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