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.
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.
