Kuwait: 71,106 new Cars sold in 10 months

New car sales figures in Kuwait during the period from January to October last indicate that the sector was able to get out of the Corona virus crisis very quickly and with the least percentage of losses, exceeding expectations, as 71,106 new cars were sold in the first ten months of this year, with a growth of 34.5 percent. percent compared to 52,828 vehicles in the same period of 2020, an increase of 4 percent compared to sales for the whole of last year, which amounted to 68,389 new cars.Join Our Telegram group to know the latest news https://t.me/kuwaitoffering

According to official statistics obtained by Al-Rai, most of the car brands available in the local market recorded a growth in their sales, which informed sources in the sector attributed to many factors, including the decline in travel rates, especially in the first eight months of this year, before the reopening of Kuwait Airport. The international airport was fully operational at the beginning of last August, in addition to postponing loan installments for citizens for a period of 6 months, which led to the availability of “cash” in their hands to reflect positively on the sales of the automobile sector.

The sector companies benefited from the return of the import movement faster than last year, with the reduction of precautionary measures and measures in terms of production in global factories, and the launch of more than 40 modern models throughout the current year, which led to the acceleration of the registration of new cars in the local market by the concerned authorities. And selling them to customers who were keen to buy modern vehicles with advanced technologies as soon as they were available in the market, taking advantage of the various offers that agencies are racing to offer, amid an increase in the pace of racing among many customers to buy completely new models, even if they had to pay additional amounts for that.

market share

The figures indicate that the lion’s share of new car sales was in favor of Japanese cars, which accounted for about 47.9 percent of sales, followed by American cars with about 16.3 percent, 12 percent for Chinese, 10.8 percent for Korean vehicles, and 10.4 percent For European models, compared to only 2.4 percent for British car brands available in Kuwait.

Asian brands continued to dominate sales, as Japanese, Korean and Chinese cars accounted for about 73.7 percent of the total, with about 50,317 vehicles sold, outperforming American models that came second with 11,593 new cars, and European vehicles came third with 7,444 cars, while the relatively low share of vehicles continued. The British market sold 1,752 cars, mainly because the majority of vehicles from the UK are classified as luxury cars in the local market, which means that their value is much higher than other types of cars, while their customers are usually of high financial ability in the Kuwaiti society.

353 luxury vehicles

The statistics showed that sales of luxury cars in the local market amounted to 353 vehicles between last January and October, representing 0.49 percent of the total cars sold in the market, compared to 321 cars, or 0.4 percent of the market in the same period of 2020, and 410, equivalent to 0.59 percent of the market. Sales of the entire past year, which confirms the continued demand for this type of vehicle by customers, many of whom consider luxury vehicles as a safe haven and an investment that maintains its value over time, without being affected by any internal or external factors.

78 international marks

There are about 78 international car brands with an Asian majority, including 11 Japanese companies, 22 Chinese, 9 American brands, 7 from the United Kingdom, 3 Korean, and 15 European, which shows the great confidence of global car companies in the local market on the one hand, and the solid partnership that Connect it to local agencies.

This comes at a time when the local market witnessed many switching agents between international brands, which confirms the manufacturers’ keenness to stay in Kuwait and search for the best opportunities available through local agents.



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