Overview of Kuwait’s Automobile Market in 2023

Automobile sales in Kuwait increased by 17.2% year-on-year to 140,519 units in 2023, increasing for the third consecutive year. Demand has already exceeded the pre-coronavirus pandemic level (115,000 units) in 2019 and has risen to 90% of its most recent peak (155,000 units) in 2015. It appears to have been supported by solid consumption and was expected to continue in 2024. However, on the political front, the structure of conflict between the government and parliament continues, and the growing negative impact on the economy has emerged as a concern. The fourth parliamentary election from December 2020 was held in April 2024, but the Emir of Kuwait dissolved the parliament again in May of the same year.