The milestone pays tribute to KAICO – the French automaker’s sole distributor in the country for 50 years
(21 July 2019, Middle East) French auto maker, Peugeot, is marking its 50th anniversary in Kuwait, cementing the brand’s rich legacy in the Middle East. The legendary French auto brand has been present in the gulf state – in partnership with Kuwait Automotive Imports Co. W.L.L (KAICO) – since 1969.
Over the past 50 years KAICO has sold some of the brand’s most iconic cars, including the legendary 504 model, which was the most popular Peugeot model in the Middle East and made history across the world as the 1969 European Car of The Year. Marketed for 15 years over a single generation since the brand’s launch in Kuwait in 1969, the 504 was renowned for its robust body structure, long suspension travel, and torque tube drive shaft. More than three million examples of the 504 were manufactured and sold throughout its history.
Ashish Tandon, General Manager at Kuwait Automotive Imports Co W.L.L., commented on this 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.”
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.”
The Peugeot brand’s legacy stretches back to 1810 as it started as a manufacturer of coffee mills and bicycles until the brand’s first automobile, a three-wheeled steam powered car of which only four were made, was produced in 1889. As one of the biggest car manufacturers in Europe, Peugeot has produced some of the most incredible vehicles the world has ever seen, including the brand’s best-selling car of all time, the Peugeot 206 with 8.3 million sold globally.
Following the opening of Peugeot’s regional office in Dubai in 2015, the brand has gone from strength to strength, recently hitting record-breaking sales results for the first quarter of 2019, continuing its comeback in the region. Contributing to the growth of 143 per cent compared to the same period last year, Peugeot’s award-winning flagship 3008 SUV and its all-new premium 5008 SUV models proved the most popular amongst customers in the GCC. Also contributing to its sales success, Peugeot’s Boxer LCV also accounted for a significant proportion of new vehicles sales in the GCC.
Kuwait Automotive Imports Co W.L.L. (KAICO) was established by Al Shaya & AL Sagar Families in 1936, handling the automotive arm of Al Shaya Group businesses which includes real estate, hotels, automotive, retails and trading.