Kuwait 2023. Toyota Dominates In A Market Up 14%

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The 2024 Cupra Tavascan
The 2024 Cupra Tavascan

Kuwaiti Vehicles Market in 2023 grows for 10 months. Total sales reach 140,519 up 17.1% from the previous year. Market leader Toyota continues to increase the gap (+6.4%)on followers.

Market Trend and Outlook

The Kuwaiti Vehicles Market in 2023 grew 17.1% from the previous year, totalling 140,519. December grows for the 10th month of the year, with 13,320 new registrations (+14.1%).

Looking at cumulative data up to December 2023 brand-wise, the leader Toyota at 43,319 sales is back above 30.9% market share and reports a 6.4% growth in registrations from the prior year. Nissan lags far behind in second, rising 1 spot with 11,106 sales (+45.0%).

Kia rises 2 spots into 3rd with 8,466 new registrations and a 43.2% growth year-on-year volume.

Looking at specific models the Toyota Land Cruiser becomes the new best seller rising 1 spot and 49.6% in year-on-year volume, followed by the Toyota Prado down 51.1%. and 1 spot.

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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