Kuwait Autos Report Q1 2013

Publisher Name :
Date:16-Jan-2013
No. of pages: 43

Kuwait has continued to experience strong growth in vehicle sales over 2012, with new vehicle sales up
by a reported 27% year-on-year (y-o-y) during the month of September, to reach 12,290 units. This brings
the year-to-date total to 102,944 units, up by 25% y-o-y.
Given this strong performance over the 9M12 period, BMI believes the time is right to make an upwards
revision to our current 2012 new vehicle sales forecast. We now believe that a 25% expansion in new
vehicle sales is likely, up from 10% previously.
One of the key factors driving demand for new cars in Kuwait at the present time has been a booming
vehicle leasing market. In this context, in October 2012, Bahrain-based Investcorp acquired a 35% stake
in Kuwaiti vehicle leasing and rental specialist Automak Automotive. Investcorp’s view that private car
ownership will wane, in favour of leasing or renting, falls in line with BMI’s forecast for annual growth in
the country’s car density to slow from 4-5% in 2006 and 2007, when new car sales growth was round 8%,
to a more subdued 2% by the end of our forecast period in 2017.
In Kuwait, Investcorp expects growth to come from the expansion of the oil sector and growing
government expenditure, which not only encourages business spending on fleets, but also brings
expatriate workers, who may not want the commitment of owning their own vehicle. Similar dynamics in
other Gulf Cooperation Council states, including increased government spending to ease public unrest,
mean that the two companies are also looking to the wider MENA region for growth.
Investcorp’s Gulf Business division president, Mohammed Al Shroogi, says Automak is ‘well positioned
to grow locally and regionally’. It is one of the leading leasing and rental firms in Kuwait, with a reported
market share of 15% and a fleet of more than 4,500 vehicles. Expansion of such a company can still have
benefits for the new car market, however, as leasing and rental fleets will need to be expanded and
renewed in line with segment growth. This is one factor in our forecast for reasonably stable growth in car
sales in Kuwait over our forecast period to 2017.
Certainly, BMI remains upbeat on the outlook for the Kuwaiti auto sector as we enter 2013, believing that
the across-the-board 25% wage increase for state employees in late March 2012, alongside a 15% hike in
pension entitlements, will continue to boost demand for new cars from Kuwaiti citizens over the short
term.
Moreover, BMI’s Macroeconomic team recently revised down its forecast for average inflation in 2012,
from 5.0% to 4.0%. Against this easing inflation backdrop, in October 2012 the Central Bank of Kuwait
(CBK) cut the benchmark interest rate to 2%, from 2.5%. With low interest rates reigning around the
world, the CBK is likely to maintain a dovish outlook for some time. This gives scope for car loans to be
cut further and certainly allows for them to remain attractively priced over the short to medium term.

Kuwait Autos Report Q1 2013

Executive Summary ........... 5
SWOT Analysis ..... 6
Kuwait Autos Sector SWOT ........... 6
Kuwait Political SWOT Analysis ... 7
Kuwait Economic SWOT Analysis . 8
Kuwait Business Environment SWOT Analysis .......... 9
Global Overview . 10
UK Boosts Europe, But Favourites Still Outperform .... 10
Table: Passenger Car Sales 8M12 ............. 10
Incentive Boom For Japan, US Powers On ..... 11
Industry Risk/Reward Ratings ...... 15
GCC States Still Dominant . 15
Table: Middle East And North Africa Autos Risk/Reward Ratings ...... 17
Regional Overview ........... 18
Macroeconomic Forecast Scenario ............ 20
Table: Kuwait - Economic Activity, 2011-2016 ....... 22
Industry Forecast Scenario ........... 23
Sales........ 23
Table: Kuwaiti Autos Sales, 2010-2017 ..... 23
Competitive Landscape ... 25
Cars ... 25
Table: Kuwait - Top 10 Best-Selling Models 2011 .. 26
Commercial Vehicles ..... 28
Suppliers .......... 29
Luxury Cars ..... 29
Leasing ............ 31
Company Monitor ............. 32
Company Profiles ............. 34
Arabian Motors Group .. 34
Kuwait Automotive Imports ......... 35
Alghanim Automotive ..... 36
Demographic Outlook ...... 37
Table: Kuwait's Population By Age Group, 1990-2020 ('000) ............. 38
Table: Kuwait's Population By Age Group, 1990-2020 (% of total) .... 39
Table: Kuwait's Key Population Ratios, 1990-2020 40
Table: Kuwait's Rural And Urban Population, 1990-2020 .... 40
BMI Methodology ............. 41
How We Generate Our Industry Forecasts 41
Automobile Industry ....... 41
Sources ............ 42Table: Passenger Car Sales 8M12
Table: Middle East And North Africa Autos Risk/Reward Ratings
Table: Kuwait - Economic Activity, 2011-2016
Table: Kuwaiti Autos Sales, 2010-2017
Table: Kuwait - Top 10 Best-Selling Models 2011
Table: Kuwait's Population By Age Group, 1990-2020 ('000)
Table: Kuwait's Population By Age Group, 1990-2020 (% of total)
Table: Kuwait's Key Population Ratios, 1990-2020
Table: Kuwait's Rural And Urban Population, 1990-2020

  • Challenges in the Tourism Industry in Thailand
    Thailand has always been a popular tourist destination and tourism provides a major boost to the country’s economy. Bangkok, Hua Hin, Krabi, Samui, Phuket and Cha Am are some of the most attractive tourist destinations in the country. In 2012, Thailand had a very high number of arrivals. Even the number of Thai citizens who [...]
  • Future of the US Consumer Electronics Market
    The market for consumer electronics has been growing steadily. Some of the factors that are contributing to the growth in the market are technological advancement, rise in disposable income and increasing demand for new products. During 2012, consumer electronics market in the US demonstrated positive expansion, although the growth rate slowed down considerably following the [...]
  • Overview of the Global Retail Market
    The global retail industry continued to grow despite the difficult economic conditions in the world. In the fiscal year of 2011, sales-weighted, currency-adjusted revenue rose by 5.1% to $4.271 trillion for the world’s top 250 retailers. According to GRDI (Global Retail Development Index), in 2013 Brazil occupied the top spot in retail development. Chile and [...]
  • Bright Future Predicted for the Tourism Industry in Singapore
    Travel and tourism industry in Singapore has been growing at a steady rate and is considered to be a major contributor to the economic growth of the country. In 2012, Singapore’s IVA (International Visitors Arrivals) reached a record high of 14.5 million, with a growth rate of 10.1% year-on-year. In recent years, inbound travel to [...]
  • Potential of Staffing Market in United States
    The staffing industry places individuals into contract, temporary and permanent positions in firms around the world. Major staffing markets include France, Spain, Italy and Japan as well as many emerging markets. Temporary staffing around the world has been growing, but in US temporary market has been flat since 2006. The majority of staffing revenue majorly [...]
  • Diagnostic X-ray Imaging Market worth $4.0 billion by 2020
  • GlobalData estimates that the global diagnostic X-ray imaging market, worth $2.4 billion in 2012, will reach almost $4.0 billion by 2020, increasing at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period. Many players are active in …

  • Graft-Versus-Host Disease Market Forecast to 2023
  • Graft-versus-host disease (GVHD) is a common complication of allogeneic hematopoietic stem cell transplantation (HSCT) that occurs when the donated (graft) cells are rejected and attack the host’s cells as foreign. GVHD can progress from mild to severe forms as either …

  • Chronic Lymphocytic Leukemia (CLL) Treatment Market worth $3.3 billion by 2018
  • New Entrants to Boost Chronic Lymphocytic Leukemia Treatment Market Value to $3.3 Billion by 2018, says GlobalData. The introduction of several new drugs will accelerate growth in the Chronic Lymphocytic Leukemia (CLL) treatment market, from $1.4 billion in 2013 to …

  • Global Biosimilars Market to Grow at a CAGR of 8.3%, to reach $262 billion by 2019
  • Lucrative Biosimilars Space to Erode Biologics Market from 2019, says GlobalData The increasing prevalence of biosimilars will have a noticeably negative impact on the biologics market beyond 2019, despite an initial projected Compound Annual Growth Rate (CAGR) of 8.3%, taking …

  • Saudi Pharmaceutical Market worth $5.9 billion by 2020
  • A high burden of chronic diseases, improving regulatory guidelines and the launch of new products will provide the necessary impetus for the growth of the pharmaceutical market in Saudi Arabia The Saudi pharmaceutical market is one of the largest markets …

  • United Kingdom Autos Report Q3 2014
    Published: 11-Jul-2014        Price: US $1295 Onwards        Pages: 50
    In 2014, BMI forecasts 6.4% growth in total vehicle sales in the UK, coming from a 6.6% increase in the passenger car segment and 5.4% rise in commercial vehicle (CV) sales. BMI's bullish outlook for the passenger car market in 2014 comes on the back of improving consumer sentiment and pent-up demand in the market from a period of sustained declines. In 2013, passenger car sales increased 12.6% on the back of modest improvements in private consumption, price cuts from car sellers, and pent-up de......
  • Czech Republic Autos Report Q3 2014
    Published: 11-Jul-2014        Price: US $1295 Onwards        Pages: 53
    Passenger car sales in the Czech Republic increased 17.4% year-on-year (y-o-y) in the first four months of 2014, to 60,491 units. This is commensurate with our bullish view on export-led manufacturing growth filtering through to increases in private consumption levels and car purchases. However, we expect this export-led recovery to temper somewhat in the latter half of the year, and this is likely to weigh on passenger car sales. Accordingly, we forecast 10% growth in this segment in 2014, an u......
  • Automotive Suspension Systems Market by Vehicle Type (Passenger Car, LCV & HCV), System Type (Passive & Semi-Active/Active), Damping Type (Hydraulic & Electromagnetic) & Geography – Industry Trends & Forecast to 2018
    Published: 7-Jul-2014        Price: US $4650 Onwards        Pages: 241
    The suspension system in a vehicle mainly consists of springs, shock absorbers and various linkages. The key functions of the system are to increase the vehicle’s road holding capacity and also, to provide complete comfort to the occupants inside the vehicle from bumps in the road and other vibrations. These systems are broadly classified as dependant and independent, depending upon the ability of the wheels on the opposite of the vehicle to move independently of each other. The suspension sys......
  • Global Automotive Seals and Gaskets Market 2014-2018
    Published: 7-Jul-2014        Price: US $2000 Onwards        Pages: 45
    Automotive seals and gaskets assemblies check the passage of fluid between moving and stationary parts of the vehicle, respectively. Seals and gaskets serve multiple functions in a vehicle. They hold the necessary fluid, which may be liquid, gas, or vapor, in the working compartment, check the entry of dirt and other contaminations, and also prevent the release of hazardous gas emissions. Automotive gaskets are manufactured from a variety of materials such as fiberglass, rubber, silicone, gasket......
  • Global Automotive Glass Market 2014-2018
    Published: 7-Jul-2014        Price: US $2500 Onwards        Pages: 65
    Automotive glass is mainly used in windshields and side and rear windows of a vehicle. In addition to protecting passengers from external elements, glass provides comfort to the passengers and complements aesthetics and aerodynamic design of the vehicle. Manufactured primarily with sand, limestone, soda ash, and dolomite, automotive glass constitutes around 3 percent of the mass of a vehicle. Automotive manufacturers and aftermarket suppliers are both major end-uses of automotive glass. The dema......
  • 2014 Deep Research Report on Global and China Forklift Industry
    Published: 4-Jul-2014        Price: US $2200 Onwards        Pages: 205
    This is a professional and depth research report on Global and China Forklift industry. The report firstly introduced Forklift basic information included Forklift definition classification application industry chain structure industry overview; international market analysis, China domestic market analysis, Macroeconomic environment and economic situation analysis and influence, Forklift industry policy and plan, Forklift product specification, manufacturing process, product cost structure etc. t......
  • China Automobile Clutch Industry Report, 2014-2017
    Published: 3-Jul-2014        Price: US $1899 Onwards        Pages: 110
    China Automobile Clutch Industry Report, 2014-2017 by SinoMarketInsight forecasts that China’s output of automobile clutch will register a CAGR of 8.5% during the years 2014-2017, and then hit 17.25 million by 2017.As a key part of a car, clutch is highly correlated with the vehicle development. In 2013, China’s auto production rose 14.78%, and the clutch market also grew steadily with sales volume reaching 12.43 million, a 14.23% uptick year on year.Passenger vehicle has different c......
  • Tunisia Autos Report Q3 2014
    Published: 2-Jul-2014        Price: US $1295 Onwards        Pages: 60
    According to an April 2014 report on the African Manager website, new vehicle sales in Tunisia totalled 9,909 units over Q114. On current trends, this would therefore suggest some growing downside risks to BMI's current forecast of a 4.6% increase in new vehicle sales for the full year. However, we choose to wait until the release of H114 data before making any changes to our current forecasts. Looking at the economic and political backdrop, BMI's Country Risk team believes that economic growth ......
  • Ukraine Autos Report Q3 2014
    Published: 2-Jul-2014        Price: US $1295 Onwards        Pages: 55
    In Ukraine, vehicle production increased 65% year-on-year (y-o-y) in the first five months of 2014, to 13,697 units. We attribute this recent surge to extremely low base effects and resurging exports. BMI does not expect this to continue over the course of 2014, however, as trade with Russia, Ukraine's largest export destination, is likely to be curtailed in the coming months on the back of ongoing political tensions. BMI is increasingly bearish on the country's macro picture and we expect this ......
  • SERVICES
    Value for Money
    We believe in "optimum utilization of available budget and resources". While servicing our clients' (your) market research requirements, we keep the same approach in focus to help you get the best value for your $$s.
    Ever Growing Inventory
    Ranging from the smallest feasible / required data (datasheets, data facts, SWOT analysis, company profiles, etc) to full research reports that help you make decisions, our inventory is updated almost on a daily basis with the latest industry reports from domain experts that track more than 5000 niche sectors.
    One Stop Solution
    Need a custom research report on medical devices market? Require all available business intelligence on 3D printing industry? Exploring F&B sector of a particular country/region? RnRMarketResearch.com is your one-stop-solution to all market intelligence needs. We not only offer custom research and consulting services, we also "bundle" reports to meet your needs and help you fetch the data analysis you require for your business.
    Dedicated Client Engagement
    Not limited to only "finding" relevant reports for you, our client engagement team dedicates its efforts to understand your "business need" and accordingly maps available research data to help you move forward. Call "your" client engagement executive any time of your day and get your questions answered in order to make the correct business decision.
    Saving Time and Efforts
    Simply share your research requirement details with us and let us do all the hard work to find required intelligence for you. When you add up our "one stop solution" and "dedicated client engagement" services mentioned above, you obviously know the time and effort saving you do by working with us.
    Payment Flexibility
    Working with Fortune 500 organizations, we understand the importance of being flexible for payments. Share your payment terms with us and we will surely match up to them to ensure you get access to required business intelligence data without having to wait for the payment to be done.
    Post-Purchase Research Support
    Have questions after reading a report / datasheet bought through us? Not sure about the methodology used for data available in the research? Talk to us / Share your questions with us and if required, we will connect you with the analyst(s)/author(s) of the report(s) and ensure you get satisfactory answers for the same. Need more data / analysis / report(s) on the topic of your research/project? The RnRMarketResearch.com team is here for you 24X7 to support you with your post-purchase requirements. Subscription Offers & Packages (Get in touch with us for more details - sales@rnrmarketresearch.com / +1 888 391 5441 )
    • Ad Hoc
    • Pay - as - you - go / Bucket Subscriptions
    • Fixed Cost for #of reports
    • Customize / Personalize as per your needs