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Jordan Car Prices Expected to Drop
The car market in Jordan is expected to experience a significant decrease in prices for many models in the coming period, following the implementation of modifications related to the trade agreement between Jordan and the United States. The price reductions will mainly affect vehicles manufactured within the United States, especially brands like Kia, Hyundai, and Tesla, after the special tax on American-made vehicles was reduced to 16%. This decision also impacts Japanese and Korean cars produced in the United States, which will see a drop in their prices, while models manufactured outside the United States will not be affected by the reduction. This change is a result of a trade agreement signed in July 2023 aimed at strengthening trade exchange and facilitating the entry of American products into the Jordanian market.
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