- Imports of used cars in Kenya according to the latest data released by the Kenya National Bureau of Statistics (KNBS) recorded a 21% rise between September 2020 and September 2021.
- During the said period, the country imported 78,304 cars, against 64,551 units in the same period in 2020.
Imports of used cars in Kenya according to the latest data released by the Kenya National Bureau of Statistics (KNBS) recorded a 21% rise between September 2020 and September 2021. During the said period, the country imported 78,304 cars, against 64,551 units in the same period in 2020.
The rise in imports took place despite soaring prices of imported vehicles due to supply hitches caused by Coronavirus. Kenya’s biggest source for imported cars is Japan accounting for more than 80 percent of the market share. Mazda Demio, Toyota Fielder, Toyota Rav 4, Toyota Vanguard and Nissan X-Trail are some of the popular models that dominate the Kenyan market.
KNBS data reveals that the average price of a used car increased to Sh940, 395 from Sh868, 780. The increase in orders in 2021 is linked to the overlapping of the orders made in 2020 when Coronavirus-travel restrictions disrupted shipments and delayed the arrival of the units. During 2020, shipments were disrupted when Ports in sources markets like Japan remained closed due to the Pandemic leading to delays in shipments for months. The economic meltdown reduced the spending capacity of small businesses and households who are the biggest buyers of used cars. The increase in demand in 2021 is also associated with the recovery of businesses and jobs.
Costly imports and a weak shilling led to the rising cost of used cars up to 33 percent between March and September last year. The shilling lost value against the US dollar from mid last year due to weak inflows and strong dollar demand across sectors.
