Chinese Chery's Omoda, Jaecoo brands launch in Iraq with Jameel as distributor
Facing a brutal price war at home in China and effectively shut out of the U.S. market by tariffs, Chinese automakers are rapidly expanding into emerging markets and Europe in pursuit of higher profits.
Jameel will initially distribute the Omoda C5 and C7 and the Jaecoo J5, J7 and J8 in Iraq. All of those models will be petrol cars with the exception of the J7, which is a plug-in hybrid.
Owned by the Saudi Jameel family, Jameel has in recent months agreed a number of distribution contracts with Chinese automakers, including with Changan in South Africa and GAC in the United Kingdom and Poland.
Other Chinese brands including Changan (000625.SZ), opens new tab, SAIC's (600104.SS), opens new tab MG, Geely (GFELY.UL), Great Wall Motor (601633.SS), opens new tab and Jetour, another Chery brand, have already launched sales in Iraq.
According to industry estimates, new car sales in Iraq grew by more than 28% to around 161,000 vehicles.
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