Chinese automotive brands are outstripping those of other countries in Kuwait, accounting for the third-largest share of the market as Chinese auto manufacturers.
The market share of Chinese auto brands in Kuwait continues to rise. As the latest industry statistics in April 2022 suggest, Chinese marque vehicles comprise nearly 16% of the Kuwait auto market, behind Japan accounting for 48% and the United States with 17%. Additionally, Germany slumped to 9% with fourth place and South Korea to fifth with 7%, news portal Yicai.com reported.
GAC Motor (Chinese: 广汽集团), MG (Chinese: 上汽名爵), Yutong (Chinese:宇通客车) and King Long (Chinese:金龙客车) are among the 22 Chinese car marques to have established themselves in the oil-rich nation in recent years with the support of local agents, according to Cheng Yongru, Economic & Commercial Counsellor of the Chinese Embassy in Kuwait.
Japanese, Korean, American, and European automakers had monopolized the Kuwait market for a long time. In recent years, with strong support from local agents and dealers, the market share of Chinese auto brands has been rising gradually. During the last year, the Guangzhou-based automaker exported 1,358 autos to Kuwait, with an increased amount of 48.2% since 2020.
There were approximately 100,000 autos sold in Kuwait, a country with a population of only 4.2 million, annually. Although it is a relatively small market, the country has a substantial influence as it harbours Saudi Arabia in the south, Iraq in the north and faces Iran across the sea. As Kuwait is one of the world's top ten oil-producing countries, international automakers are racing to enter its auto market.