(MENAFN - Jordan Times) Imports of used cars declined by 13 per cent during the first three quarters of this year, due to ongoing instability in the region, according to importers' top representative.
Nabil Rumman, president of the Jordan Free Zone Investors Association (JFZIA), told The Jordan Times Tuesday that a total of 48,760 cars entered the local market during the first nine months of 2011 compared to 56,351 vehicles imported during the same period of last year.
However, he indicated that during the January-September period 78,156 automobiles entered the free zone in Zarqa and were reexported to regional markets, which show that there was a 12 per cent increase compared to the same period of last year, when 69,866 motors were exported.
Rumman noted that 80 per cent of the cars shipped to regional markets were exported to Iraq.
"The performance of the local auto sector is good in light of political and economic instability in the region," he remarked.
The JFZIA chief pointed out that Jordanian car traders have started to export to the Libyan market, after over a one year ban imposed by the ousted Muammar Qadhafi's regime on cars imported from Jordan.
Stating that between 2,000 to 4,000 used vehicles used to be exported to Libya from the free zone every year, Rumman expected sales to the north African country to surge in the coming months, when stability there is restored.
Over the past 10 years, the value of cars exports to Libya reached over JD100 million, according to Rumman.
In 2010, the overall number of cars entered the free zone was 154,113, out of which 86,762 autos were exported to neighbouring countries, mainly Iraq.
Rumman said 75 per cent of the used cars that enter the local market are Korean made.