French carmaker Peugeot is marking its 50th anniversary in Kuwait, cementing the firm’s legacy in the Middle East. The French automotive brand has been present in the gulf state in collaboration with Kuwait Automotive Imports Co. W.L.L. (KAICO) since 1969.
KAICO has sold some of the brand’s most iconic cars such as the 504. The aforementioned car was the most popular Peugeot model in the Middle East, making history across the world as the 1969 European Car of the Year. The 504 was renowned for its robust body structure, long suspension travel, and torque tube drive shaft. Peugeot sold more than three million examples of the 504 throughout its lifespan.
Peugeot has had a long, rich legacy in Kuwait and the rest of the GCC, cementing its role in the region by marking its golden jubilee.
Ashish Tandon, General Manager at Kuwait Automotive Imports Co. W.L.L., commented on the occasion, “Peugeot, as a brand, has a rich history locally ever since the debut of the iconic 504 more than five decades ago. With the brand enjoying a resurgence in the Middle East, we look forward to contributing to its expansion in the region. Over the years we have built a network of loyal customers, and, we look forward to welcoming new customers to the brand. Kuwait’s robust economic climate makes it an ideal market for growth and to help bring Peugeot’s ‘Push to Pass’ strategy to fruition.”
Peugeot was founded in 1810, beginning as a manufacturer of coffee mills and bicycles. 1889 saw Peugeot introduce its first automobile: a three-wheeled steam powered car. Only four examples of the car were produced, but that laid the foundations for the French brand’s global presence and popularity today. As one of the biggest car manufacturers in Europe, Peugeot has produced some of the most ground-breaking vehicles the word has ever witnessed, including the bestselling 206 of which 8.3 million units were sold globally.
Rakesh Nair, Managing Director of the GCC at Groupe PSA said, “As a brand founded over 200 hundred years ago, we always recognise the long-term partnerships we enjoy with our Peugeot partners around the world. We are privileged and honoured to be marking 50 years of Peugeot in Kuwait with KAICO – one of the most deep-rooted family companies in the region. It is no coincidence that this memorable anniversary comes at a time as we embark on a new journey for the brand in the region and it is very comforting to have such a strong partner by our side for the next 50 years of excellence and innovation.”
From humble beginnings in 1810, to its current forte in manufacturing affordable cars with segment-leadig features, Peugeot has come a long way, both regionally and globally.
Following the opening of Peugeot’s regional office in Dubai in 2015, the firm has gone from strength to strength in the region. Recently, Peugeot hit record-breaking sales results for the first quarter of 2019, cementing its position as one of the region’s most popular car brands. The Peugeot 3008 and 5008 SUV models were instrumental in helping the firm achieve an impressive 143 percent year-on-year compared to Q1 2018. The Peugeot Boxer LCV also contributed to the robust new vehicle sales in the GCC.
Kuwait Automotive Imports Co. W.L.L. was established by Al Shaya & Al Sagar Families in 1936, handling the automotive arm of Al Shaya Group business which covers multiple sectors like real estate, hotels, automotive, retails, and trading.