Kuwaiti Vehicles Market in 2024 posted minimal growth of just 0.3%. Ford edged past Kia to claim 3rd spot, but the standout performer was Jetour, moving several spots closer to Top 10.
Economic Environment
Kuwait’s economy will remain in recession in 2024, with GDP contracting 2.8% due to OPEC+ production cuts, before rebounding by 2.6% in 2025. The non-oil sector is recovering, projected to grow 2.0% in 2024, while inflation is moderating to 3.0% amid easing demand pressures. Lower oil prices and production have…