nissan kuwait Archives | Focus2Move https://www.focus2move.com/tag/nissan-kuwait/ automotive, research, data, statistics, cars, vehicles, ranking, forecast Tue, 07 Nov 2023 21:51:02 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.2 Kuwait 2023. Nissan Surges 50.6% In Vehicle Market Up 10.7% In YTD Sales https://www.focus2move.com/kuwaiti-vehicles-market/ Tue, 07 Nov 2023 22:00:32 +0000 http://focus2move.com/?p=31430 Kuwaiti Vehicles Market in September 2023 grows for the 8th month of the year, with 10,125 new registrations (+1.1%). YTD figures at 94,652 are up 10.7% from the previous year.

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Kuwaiti Vehicles Market in September 2023 grows for the 8th month of the year, with 10,125 new registrations (+1.1%). YTD figures at 94,652 are up 10.7% from the previous year.

Market Trend and Outlook

The Kuwaiti Vehicles Market in September 2023 grows for the 8th month of the year, with 10,125 new registrations (+1.1%). YTD figures at 94,652 are up 10.7% from the previous year.

Looking at cumulative data up to September 2023 brand-wise, the leader Toyota at 30,713 sales is back above 32% market share and reports a 3.4% growth in registrations from the prior year. Nissan lags far behind in second, rising 1 spot with 7,157 sales (+50.6%).

Chevrolet falls 1 spot into 3rd with 6,690 new registrations and a 1.1% loss year-on-year volume.

Looking at specific models the Toyota Land Cruiser becomes the new best seller rising 1 spot and 79.7% in year-on-year volume, followed by the Toyota Camry up 28.8%.

Medium-Term Market Trend

The development of the domestic car market in Kuwait had a gold era over a decade ago, when the strong economic growth, high oil price and high workers immigration pushed the market up for years until reaching the 2014 all-time record with 162,719.

Then, the economy started struggling for the fall of oil price in the international market and the public spending was cut while taxes increases. The car market start struggling and declined for 3 consecutive years. When in 2018 and 2019 a shy recovery was in place, the arrival of pandemic pushed sales down at the last 15 years record-low of 88.000.

However, since early 2021 the economic recovery sustained consumers demand and the market is recovering.

Tables with sales figures

In the tables below we report sales for top 10 Brands and top 10 models.

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Kuwait 2022. MG (+64.3%) Is The Rising Star In A Recovering Vehicles Market (+12.9%) https://www.focus2move.com/kuwaiti-vehicles-market-2022/ Sat, 28 Jan 2023 16:00:48 +0000 https://www.focus2move.com/?p=78980 Kuwaiti Vehicles Market in 2022 totals 119,855 sales, the highest in the last 7 years and a 12.9% increase from the previous one. December grows for the 9th month in a row, with 11,690 new registrations (+31.9%). MG jumps into 7th position.

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Kuwaiti Vehicles Market in 2022 totals 119,855 sales, the highest in the last 7 years and a 12.9% increase from the previous one. December grows for the 9th month in a row, with 11,690 new registrations (+31.9%). MG jumps into 7th position.

Market Trend and Outlook

Following the sharp fall reported in 2020, (-22.6%) the light vehicles market re-gained momentum in 2021 rising 22% by the end of the year.

In 2022 the Kuwaiti Vehicles Market totals 119,855 sales, a 12.9% increase from the prior year. This is the highest level of sales in the last 7 years. The strong momentum is confirmed by December growing for the 9th month in a row, with 11,690 new registrations (+31.9%).

Looking at cumulative data from 2022 brand-wise, the leader Toyota at 40,817 sales is back above 34% market share and reports a 42.6% increase in registrations from the prior year. Chevrolet lags far behind in second with 8,970 sales grows 18.4% this year.

Nissan falls into 3rd position reporting 7,657 cumulative sales and a 32.7% loss from the previous year.

The rising star is the Chinese brand MG which gained 64.3% advancing into seven place with 4,645 sales.

Tables with sales figures

In the tables below we report sales for top 10 Brands and top 10 models.

This content is for members only. Visit the site and log in/register to read.
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Kuwait 2021. Kia Significantly Underperforms In Market Gaining 21.8% https://www.focus2move.com/kuwaiti-vehicles-market-2021/ Fri, 11 Feb 2022 18:19:35 +0000 https://www.focus2move.com/?p=74502 Kuwait's car market in 2021 rises by 21.8% with 108,029 sales, reporting a very strong performance all year, except for a drop in sales in Q4. Kia reports the slowest growth, gaining only 1.4%.

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Kuwait’s car market in 2021 rises by 21.8% with 108,029 sales, reporting a very strong performance all year, except for a drop in sales in Q4. Kia reports the slowest growth, gaining only 1.4%.

Market Trend

The Kuwaiti car market this year attempted to recovered effectively from the pandemic crash of 2020 and reported a very promising performance all year except for Q4..

Kuwait vehicles market hit an all-time record in 2014 with 162,719 sales ending a long positive path.

However, the sudden economic crisis generated by the fall of oil price hit the sector with sales declined for three consecutive years. In 2017, light vehicle sales have been 106,551.

In 2018, according to data reported by the Kuwaiti Authority for Transportation, the market has finally changed mood breaking the falling trend and scoring a positive second half which allowed to the end of the year with 107,534 sales, up a mere 0.9%.

In 2019 the market kept recovering with moderation. Indeed, Full-year registrations in 2019 have been 114,605, growing 6.6% from the previous year.

Due to the COVID-19 pandemic and the sharp fall in oil prices sales fell in  2020. In fact, 88,930 units have been sold, reporting a decline of 22.4% compared to 2019.

In 2021 the year started positively for the Kuwait market, in fact, in Q1 27,579 units have been sold, reporting a 18.9% increase in sales compared to Q1 2020, while in Q2 sales accelerated, reporting a 160.7% increase in sales with 25,790 units sold due to the low levels reported in Q2 2020.

In Q3 sales grew just 8.7% with 28,124 units, while in Q4 sales fell 10.7% with 26,536 units.

Indeed, Full-Year sales for 2021 have been 108,029, reporting a 21.8% increase compared to 2020.

Kuwait quarterly sales variation
Kuwait quarterly sales variation

Brand-wise, this year the leader Toyota (+4.1%) lost 4.6% market share, followed by Nissan (+45.1%), which gained 1.7% share, and Chevrolet which lost 0.1% share, gaining 20.6%.  Mitsubishi reached 4th place and gained 32.5%, followed by Kia which gained 1.4%, reporting the worst performance on the leaderboard.

Ford gained 31.6%, followed by Honda (+23.9%) -up 1 spot- and Lexus (+1.9%). Closing the leaderboard we have Hyundai gaining 12.2% this year and MG registering the best performance (+47.5%).

The most sold vehicle this year remains the Toyota Land Cruiser (-6.6%) with 6,215 units sold, followed by the Nissan Sunny (+125.5%) registering 4,906 new sales this year. The Toyota Camry (-3.7%) closes the podium and reports 4,549 new units sold.

Tables with sales figures

In the tables below we report sales for top 10 Brands and top 10 models.

This content is for members only. Visit the site and log in/register to read.
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Kuwait 2020. MG enters the leaderboard and impresses (+33.8%) while the market recovers (-21%) https://www.focus2move.com/kuwaiti-vehicles-market-2020/ Fri, 22 Jan 2021 09:10:17 +0000 https://www.focus2move.com/?p=71294 Kuwaiti auto market in 2020 falls by 21% as the pandemic and the fall in oil prices affect sales. Full-Year sales have been 88.930, while MG enters the leaderboard by jumping 5 spots and reports the best performance (+33.8%).

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Kuwaiti auto market in 2020 falls by 21% as the pandemic and the fall in oil prices affect sales. Full-Year sales have been 88.930, while MG enters the leaderboard by jumping 5 spots and reports the best performance (+33.8%).

Market Trend

The Kuwaiti car market has been hit in 2020 by the world-wide COVID-19 pandemic and by the fall of oil price in the international markets, which have impacted sales significantly.

After starting the year with a very slight negative trend (-1.7%), the market quickly collapsed in March as the virus struck, followed by the quick fall of the oil price. The sharpest drop in sales this year was in May when sales declined by 83.5%.

The market recovered quickly in the following months, and even reported growth in August (+5.5%). The only month in the second half of the year to report double-digit losses is November (-11.5%).

Indeed, Full-Year sales for 2020 have been 88.930, reporting a decline of 21% compared to 2019.

Kuwait monthly variation in sales 2020
Kuwait monthly variation in sales 2020

Brand-wise, this year the leader Toyota (-19.6%) gained 1.1% market share, followed by Nissan (-33.6%), which lost 1.5% share and registered the worst performance in the leaderboard, and Chevrolet which lost 0.2% share, falling 24.1%.  Kia remained in 4th place and lost 30%, followed by Mitsubishi which lost 25.4%.

Lexus fell in 6th place and lost 5.4%, followed by Ford (-5.6%) -up 2 spots- and Honda (-15.6%). Closing the leaderboard we have Hyundai -down 3 spots- losing 26.4% this year and MG entering the leaderboard by jumping 5 spots and registering the best performance (+33.8%).

The most sold vehicle this year remains the Toyota Land Cruiser (-0.7%) with 6.651 units sold, followed by the Toyota Prado (-23.1%) registering 4.945 new sales this year. The Toyota Camry (-17.2%) closes the podium and reports 4.723 new units sold.

Tables with sales figures

In the tables below we report sales for top 10 Brands and top 10 models.

This content is for members only. Visit the site and log in/register to read.
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Kuwait 2019. Toyota kept 30% share in a steady market https://www.focus2move.com/kuwaiti-vehicles-market-2019/ Mon, 20 Jan 2020 18:31:33 +0000 https://focus2move.com/?p=60483 Kuwaiti Vehicles Market in 2019 the market kept recovering with moderation. Full-year registrations in 2019 have been 114.605, growing (+6.6%) and the 2020 outlook is again moderately positive. Toyota held over 30% of market share while all other players stand well below.

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Kuwaiti Vehicles Market in 2019 the market kept recovering with moderation. Full-year registrations in 2019 have been 114.605, growing (+6.6%) and the 2020 outlook is again moderately positive. Toyota held over 30% of market share while all other players stand well below.

Economic Environment

Kuwait economic stagnated in Q3 according to recent data. The oil sector contracted sharply, due to over-compliance with OPEC+ production cuts.

While this decline was broadly offset by a large expansion in the non-oil sector, the non-oil reading was flattered by a large variation in the taxes and subsidies adjustment used to calculate GDP, and underlying momentum was actually weaker.

Turning to Q4, the oil sector likely remained in the doldrums, as output was down year-on-year in both October and November. However, the non-oil sector likely fared better, thanks to healthy private-sector credit growth and a solid labor market.

Market Trend

Kuwait vehicles market hit the all-time record in the 2014 with 162.719 sales ending a long positive path.

However, the sudden economic crisis generated by the fall of oil price hit the sector with sales declined for three consecutive years. In the 2017, light vehicles sales have been 106.551.

In the 2018, according to data reported by the Kuwaiti Authority for Transportation, the market has finally changed mood breaking the falling trend and scoring a positive second half which allowed to the end the year with 107.534 sales, up a mere 0.9%.

In 2019 the market kept recovering with moderation. Indeed, Full-year registrations in 2019 have been 114.605, growing 6.6% from the previous year.

The market leader was – as always – Toyota with over 30% of market share and a wide gap over all followers.

The best challengers were Nissan  Chevrolet and Kia with combined share at 24%.

Looking ahead, the introduction of VAT in the country, have been postponed to April 2021 and this would allow the market to keep recovering during the 2020.

Tables with sales figures

In the tables below we report sales for Top Brands

This content is for members only. Visit the site and log in/register to read.
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Kuwait 2018. Auto sales finally positive breaking the 3-years fall https://www.focus2move.com/kuwaiti-vehicles-market-2018/ Mon, 04 Feb 2019 16:00:24 +0000 https://focus2move.com/?p=47315 Kuwaiti Vehicles Market grew 0.9% in 2018 interrupting the negative trend of recent years, closing the year with 107.534 units sold. Nissan gained the 2nd place - up 13.3% - behind Toyota, the market leader with 28.4% market share.

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Kuwaiti Vehicles Market ended 2018 up 0.9% breaking the previous year decline and closing the year with 107.534 units sold. However, the  Nissan gained the 2nd place – up 13.3% – behind Toyota, the market leader with 28.4% market share.

Economic Environment

Kuwait’s economy accelerated in the third quarter of 2018 on the back of robust growth in the non-oil sector—thanks to the services and the agriculture sectors—and the oil sector, where increased production was accompanied by rising prices. The external sector has also continued to perform enviably through October.

Exports increased over a third in the first 10 months with particularly strong growth in the July–September period, partly on the back of the strong rise in oil prices

Pro-business reforms to attract FDI and a large infrastructure investment push should buttress the economy this year. However, a prolonged and marked drop in oil prices will weigh on growth, while domestic political tensions hampering diversification efforts cloud the outlook.

Market Trend

Kuwait vehicles market hit the all-time record in the 2014 with 162.719 sales ending a long positive path. Then, the sudden economic crisis generated by the fall of oil price hit the sector with sales declined for three consecutive years. According to data reported by the Kuwaiti Authority for Transportation in the 2017 light vehicles sales have been 106.913, down 7.8% from the previous year.

In the 2018 the market has finally changed mood breaking the falling trend and scoring a positive second half with allowed to the end year with 107.534 sales, up 0.9%.

Brand-wise, the 2018 market leader was Toyota with 30.541 units sold (+2.6%), dominating the market with 28.4% of market share.

In second place Nissan with 10.785 (+13.3%) followed by Mitsubishi with 9.336 (-8.3%), Chevrolet with 8.227 (-8%) and Kia with 8.001 (-3.3%).

Looking ahead, the introduction of VAT in the country, have been postponed and this would allow the market to run in positive territory across the 2019, with our forecast for a market up between 7 and 10 percent.

Indeed, back in June 2016, all six Gulf Cooperation Council (GCC) member states signed the Common VAT Agreement. It was agreed that each GCC Member State would introduce a VAT system at a rate of 5%. In March 2018 the Kuwait National Assembly pushed back a vote on the implementation of a VAT system. While no definitive date has yet been set for the introduction of a new VAT system, Reuters reports from Kuwait have suggested the possibility of the VAT system introduction being postponed until 2021.

Tables with sales figures

In the tables below we report sales for Top Brands

This content is for members only. Visit the site and log in/register to read.
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Kuwait 2016. Mercedes the star in a dark year https://www.focus2move.com/kuwait-vehicles-sales-2016/ Sat, 11 Feb 2017 10:00:40 +0000 http://focus2move.com/?p=25021 Kuwait vehicles sales 2016 sharply down at lowest in five years hit by the economic recession and budget constrain. However, luxury segment grew up pushed by an astonishing performance by Mercedes.

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Kuwait vehicles sales 2016 sharply down at lowest in five years hit by the economic recession and budget constraint. However, luxury segment grew up pushed by an astonishing performance by Mercedes.

Kuwait is more than fulfilling its pledge to reduce output in accordance with the OPEC agreement, after Kuwaiti officials announced in mid-January that the country had cut production by even more than its original commitment.

This and others actions are in place to sustain the economic recovery after that oil price fall severely hit the country since mid 2015.

The automotive sector has been hit in full by the crisis, with deep reduction on consumer’s demand both in private and public clients.

As reported by the Kuwait Authority for Transportation, 2016 vehicles sales had been 115.898, down 28.6%, at the lowest in last five years.

Top selling brands has lost more than average, with Toyota market leader but down 31.7%, Nissan second and down 39.1% and Mitsubishi third, down 28.5%.

Premium brands segment outperformed mainly thanks to Mercedes, improved near 50%, but with Lexus, Jaguar and Cadillac up.

Kuwait will join Gulf Cooperation Council (GCC) countries in applying a value-added tax from 2018, local reports of a recent conference confirmed. Finance Ministry is working with EY to develop the regime. Financial services, education and basic foodstuffs would be exempt, it reported, and a rate of no more than 5% would be levied.

Tables with sales figures

In the tables below we report sales for Top Brands

This content is for members only. Visit the site and log in/register to read.
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