Kuwait Autos Report Q2 2016
BMI View: A combination of a slowing economy, low oil prices and higher local interest rates continues tounderpin BMI's cautious stance towards the Kuwaiti new vehicle sales market in 2016. We are targetingjust 0.5% sales growth for the sector.
This quarter, BMI has extended its forecast period to 2020.
Over this period, we expect new vehicle sales to show growth of 17%, a somewhat lower rate of growththan its GCC peers that reflects its less impressive economic growth fundamentals on a regional basis
A prolonged period of low global oil prices continues to pose a downside risk to our forecasts to 2020.
In 2015, Japanese carmaker Toyota retained its long-held local market leadership, accounting for over athird of the total market in Kuwait. In 2015, the Japanese carmaker sold 55,802 units in country, for amarket share of 37%, over three times its nearest rival Nissan.
Toyota made the five most popular models sold in the country over Q115, with its Prado, Hilux, Camry,Corolla and Land Cruiser models.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook