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Jordanian Automotive Sector Witnessing Unprecedented Expansion
Jordan’s strong economy and continued population growth have led to unprecedented growth in car and truck imports. With a population of 5.6 million and a GDP of 14 million USD - growing at a rate of 7.6% - Jordan relies mainly on imports to satisfy domestic auto demand. A favorable taxation structure allows 100% foreign investment. Jordan currently counts 700,000 registered vehicles - and a powerful yearly market size increase of 10%. The market covers every sector of the industry, with passenger cars and SUV’s representing the largest slice. Rising personal incomes are translating into strong luxury car and SUV sales figures. And interest in motorbikes has been enhanced by the construction of the first-ever Motor Grand Prix track in the Middle East.