Jordanian auto market in 2020 gains 2.4% despite the pandemic, lockdowns, and the sharp fall in tourism. Full-Year sales have been 30.507, while the leader Toyota keeps gaining market share (+3.7%). Meanwhile, Hyundai loses8.5% share and drops almost 40%.
Market Trend
The Jordanian car market remained almost flat in 2020 despite the world-wide COVID-19 pandemic and the consequent drop in tourism.
In the first part of this decade, the market was on a very positive track growing up from 20.016 units in 2010 to the all-time record of 69.583 units in 2014.
The growth was really too fast and when the economic environment started to deteriorate, due to the high public expenses correlated with refugees and low internal demand, the auto market declined. Initially, the negative trend was at acceptable speed with 2015 sales down at 61.774, still the second-best level ever, and then very fast, reaching out 30.353 units in 2018, following 5 years of loss.
In 2019, despite the very negative economic environment, the market remained almost flat. Indeed, Total sales in 2019 have been 29.786 (-1.8%).
After starting the year with a very slight positive trend (+1.7%), the market quickly started falling in March as the virus struck, the sharpest drop in sales this year was in April when sales declined by 65.3%.
The market recovered immediately and reported growth throughout the entire second half of the year except for July (-3.2%). The highest increase in sales was in October when sales increased by 39.9%.
Indeed, Full-Year sales for 2020 have been 30.507, reporting an increase of 2.4% compared to 2019.
Brand-wise, this year the leader Toyota (+6.8%) gained 3.7% market share, followed by Hyundai (-38.7%), which lost 8.5% share and registered the worst performance in the leaderboard, and Isuzu -up 1 spot- which gained 0.8% share, rising 5%. Kia fell in 4th place and lost 28.9%, followed by Nissan which gained 9.7%.
Mitsubishi remained in 6th place and gained 36.9%, followed by Lexus (+60.9%) -up 1 spot- which reported the best performance in the leaderboard and MG. Closing the leaderboard we have BMW -down 2 spots- gaining 0.3% this year and Suzuki entering the leaderboard by jumping 1 spot and gaining 10.2%.
The most sold vehicle this year is the Toyota Land Cruiser (+37.5%) -up 1 spot- with 4.625 units sold, followed by the Toyota Land Cruiser P/U (+42.2%) -up 2 spots- registering 2.431 new sales this year. The Hyundai Tucson (-54.7%) -down 2 spots- closes the podium and reports 1.841 new units sold.
