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Overview of Kuwait’s Automobile Market in 2022

Automobile sales in Kuwait increased by 11.4% from the previous year to 113,000 units in 2022. Although demand has recovered for three consecutive years and exceeded the 110,000 units sold in 2019, sales remained at just over 70% of the peak of 150,000 units achieved in 2013-2015. Market leader Toyota increased its sales by 41.5% to 41,440 units, and its market share recovered to 36.5%, an increase of 7.7 points. Chevrolet rose 18.4% to 8,970 units, overtaking Nissan, which fell 32.7% to 7,657 units. The US brand’s market share expanded from 7.4% in the previous year to 7.9%. Nissan’s sales was affected by the 60.5% decline of its core model the Sunny.

In terms of environmental policy, in October 2021, the country submitted a goal to reduce GHG emissions by 7.4% compared to BAU (business as usual) by 2035 as a country-specific reduction target under the Paris Agreement. In addition, in November 2022, Kuwait announced a goal for the oil and gas sector to become carbon neutral by 2050.

Text: Kuwait: Recent Developments<Market Trends><Policy Trends><Political Trends><Economic Trends>
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