|
|
 |
|
Viewing report
|
|
|
|
Kuwait Autos Report Q1 2012
Business Monitor International, Jan 2012, Pages: 46
Business Monitor International's Kuwait Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Kuwait's automotive industry.
Car sales are driving Kuwait’s autos market, with total car sales reaching 91,162 units in 2011.
Commercial vehicle sales are expected to increase 2.51% year-on-year (y-o-y) in 2011 to 32,864 units. BMI expects sales of cars and commercial vehicles to grow by 28.4% y-o-y and 12.6% y-o-y by 2016 respectively. BMI forecasts that total sales are expected to grow to 154,076 units in 2016. This 24.2% yo- y growth to 2016 represents a significant opportunity for companies connected to the autos industry in the country. In terms of the wider economy, inflationary pressures in Kuwait will remain subdued throughout 2012, while Kuwait's fiscal position still remains in good shape heading into 2012.
One area where Kuwait is showing interest is in the electric vehicles segment. In October 2011, US electric vehicle manufacturer T3 Motion received additional purchase orders from the Interior Ministry of Kuwait for its T3 electric stand-up vehicles (ESVs). The total value of orders from the ministry has now reached US$448,000. The company has already supplied the first batch of the ESVs, which will be deployed for the purposes of airport security and coastal patrols, according to CEO Ki Nam. The ministry placed the orders through A&M, the exclusive distributor of T3’s ESVs in Kuwait. In line with BMI's view that that there is considerable potential demand for alternative-fuel vehicles in the Gulf Cooperation Council (GCC) states, T3 Motion has also shipped its first batch of ESVs to Saudi Arabia.
Luxury car sales are growing in Kuwait and the region as a whole. For example, sales of Ford Motor’s luxury Lincoln brand in the GCC region have increased by 55% for the year-to-date in 2011, despite relatively flat industry growth, according to Ford Middle East Managing Director Larry Prein. The positive results are due to the automaker's strong vehicle range, the expansion of its dealership network and a rise in the level of customer satisfaction, said Prein. In addition, Mercedes-Benz Middle East and Levant announced that its Q3 sales were the highest since 2008. The German carmaker recorded an 18% y-o-y rise in sales across all models, with growth in Qatar and Kuwait being particularly impressive.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
|
|
|
|
