Kuwait Autos Report Q4 2016

Kuwait Autos Report Q4 2016

Published: September 2016
Publisher: BMI Research
Product ref: 262782
Pages: 34
Format: PDF
Delivery: Immediate download

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BMI View: Over the past quarter, we have become increasingly bearish on the short-term outlook for new
vehicle sales. We now forecast a 30% fall in sales over 2016, although luxury brands will outperform.

Key Views
¦ Most Kuwaitis are putting off new vehicle purchases at the current time, given continued low oil prices, a
sluggish economy and the likelihood of higher interest rates as we move into 2017.
¦ This has seen most of the volume carmakers selling in Kuwait see double-digit sales declines over 2016
to date.
¦ Our view that Kuwait will retain strong demand for luxury cars has been borne out by the relatively
strong performance of luxury brands compared to volume marques over 4M16.

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