Jordan’s EV sales expected to spike 45.9% in 2023, report finds

Jordan’s EV sales expected to spike 45.9% in 2023, report finds

AMMAN — Passenger electric vehicles (EVs) sales in Jordan are expected to expand by 45.9 per cent in 2023, reaching an annual sales volume of roughly 23,400 units, according to a recent report from Fitch Solutions. The report also forecasts that EV sales in Jordan will average an annual growth rate of 10.4 per cent between 2023 and 2032, reaching a sales volume of over 40,000 units by 2032. The report, published last June, attributes Jordan’s high uptake of passenger EVs to reduced import taxes, the arrival of new affordable Chinese models and high fuel prices. Jordan has reduced the import duties on EVs from 25 to 10 per cent, which is “significantly” lower than import duties imposed on hybrids and gasoline cars, which currently stand at 55 per cent and 86 per cent, respectively, the report said. The report also noted that data indicates that the majority of consumers in Jordan prefer affordable vehicle models. It showed that imports of used vehicles account for 70 per cent of total imported vehicles in Jordan, compared to new vehicles, which make up only 20 per cent. According to the report, there are currently 13 different Chinese brands in Jordan that comprise