Iraq 2012: General Motors and Kia in great shape
* See the link to a more detailed article by clicking on the title! *
Thanks to Achtung we now have access to more information about the Iraqi car market. New cars demand is soaring in the country as salaries are on the up and the violence is down. General Motors and Kia in particular are reporting big sales increases. GM sold 32,000 vehicles in the country in 2011, up 68% on 2010 and a huge 2033% on 2006, making Iraq GM's second biggest market in the area behind Saudi Arabia.
A look at Chevrolet's Iraqi range shows that no less than 18 models are on sale in the country, including the all-new Sonic and Malibu... For its part Kia sold 9,000 cars over the first 3 months of 2012, up 47% year-on-year. Kia's Iraqi range is complete with the all-new Picanto, Rio and Optima.
A bizarre black market for license plates has formed in the country, resulting in situations where on top of the price of the car, $5,000 are necessary to secure an existing license plate to pose on the car, as new license plates are unregulated and only rarely released by the government. A market regulation is needed in the country to fully harness the growing demand for new cars. A fascinating market that I will endeavour to find more information about over the coming months...
Link to the original Daily Star Lebanon article below.