Libya: Passenger Car Market 2024

Passenger Car Market Size in Libya

The Libyan passenger car market soared to $X in 2021, increasing by 66% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a abrupt descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Passenger Car Exports

Exports from Libya

In 2021, approx. X units of passenger cars were exported from Libya; with an increase of 589% compared with 2020 figures. Overall, exports recorded a perceptible expansion. The growth pace was the most rapid in 2016 with an increase of 991% against the previous year. Over the period under review, the exports reached the maximum at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, passenger car exports soared to $X in 2021. In general, exports, however, showed a perceptible reduction. The pace of growth was the most pronounced in 2016 when exports increased by 880% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Tunisia (X units) was the main destination for passenger car exports from Libya, accounting for a 139% share of total exports. Moreover, passenger car exports to Tunisia exceeded the volume sent to the second major destination, Italy (X units), fourfold. Germany (X units) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Tunisia stood at +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+26.0% per year) and Germany (+4.6% per year).

In value terms, Tunisia ($X) emerged as the key foreign market for passenger cars exports from Libya, comprising 89% of total exports. The second position in the ranking was held by Italy ($X), with a 25% share of total exports. It was followed by Germany, with a 5% share.

From 2012 to 2021, the average annual growth rate of value to Tunisia totaled +16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+41.6% per year) and Germany (-1.5% per year).

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, waning by -24.7% against the previous year. Over the period under review, the export price showed a deep slump. The pace of growth was the most pronounced in 2013 when the average export price increased by 22%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malta ($X per unit), while the average price for exports to Belgium ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+10.6%), while the prices for the other major destinations experienced mixed trend patterns.

Passenger Car Imports

Imports into Libya

In 2021, imports of passenger cars into Libya skyrocketed to X units, jumping by 64% against the previous year's figure. In general, imports, however, continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 136% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, passenger car imports soared to $X in 2021. Over the period under review, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 126% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X units), Germany (X units) and the United States (X units) were the main suppliers of passenger car imports to Libya, together comprising 57% of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +7.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), the United States ($X) and Belgium ($X) were the largest passenger car suppliers to Libya, together comprising 63% of total imports. Canada, Germany, the Netherlands and Switzerland lagged somewhat behind, together comprising a further 15%.

The Netherlands, with a CAGR of +9.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average passenger car import price stood at $X per unit in 2021, picking up by 2.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 28% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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