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Iraq. Following previous years fast growth, sales stuck in Q1 2020 by covid19 spread

Iraqi Cars Sales recovery ended in the first quarter 2020 after over doubling in the previous three years. The covid19 pushed March sales down 50% with Q1 down 11%. The market outlook is now very negative with the 2020 projected down 27%.Medium term market directionIraqi automotive industry was the second largest in the Middle East – after Iran – before to become field of the war between the US and Terrorists, which devastated the country for near 15 years.In the 2010, when an apparent peace was established, the market had recovery up to over 150k units. But in short, the country was again in the middle of a war and new vehicles sales declined for six consecutive years, down to a negative peak of 32.731 in 2016.Then the market stabilised in 2017 with a little growth at 39.566, before to fast growth in the following year, as the country stabilized again and was supported by economic sustain of international community. In the 2018 sales have been 57.323 and in the 2019 79.924.Many car producers have left the country in the past years and now are coming back, while the Korean Kia has never dismissed the local structures gaining a stable reputation and the market leadership.Post Covid19 Market TrendThe 2020 outlook was almost positive as several brands were re-starting operations launching a wide bulk of new models in any segments.In the first two months of 2020, sales held the recent years’ positive trend, with Year to Date February sales at 13.785 (+25%), before the arrival of Covid19 changed all perspectives.In March sales fell down ending the first quarter with 16.434 units (-11.6%) while preliminary information on the second quarter are awful, with sales projected down over 60%.The country is now damaged both by covid19 direct effects and by the fall of oil price in the international market, which further stress the public budget reducing the government space to subsidy the local economy recovery.The 2020 outlook become very negative with full year 2020 projected down at 27.2% at 58.000 units and 2021 is seen again in decline, before the 2022 recovery.Tables with sales figuresIn the tables below we report sales for Top 10 Brands and top 10 Models:This content is for members only. Visit the site and log in/register to read.

Bosnia 2020. Market recovers in September (-15.5%), but growth is challenged by second wave
Tuesday November 10, 2020

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Peru 2020. Vehicles market starts growing again (+20.3%), meanwhile Mitsubishi plummets by 64.1%
Wednesday November 18, 2020

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