NAIROBI, Kenya, June 19 – The Kenyan Automotive scene has been growing over the last couple of years. A 2016 report by Deloitte suggests that there is still room for growth in local vehicle sales.
In a country of 44 million, people the total vehicle fleet is just over 1.3 million, putting the ownership rate at around 28-29 vehicles per 1000 people. The majority of these vehicles are second-hand vehicles sold by dealers and online platforms such as Cheki. Taxi businesses such as Uber, Taxify and Little Cab have also brought with them an increase in demand of vehicles for business.
Taking advantage of the opportunity, international companies are looking to open plants in Kenya. Japan’s Toyota and General Motors already have a presence in the country. Earlier this year, Peugeot announced plans to restart production in Kenya. Germany’s Volkswagen also inaugurated a new product facility in Thika on December 2016.
Additionally, in March last year the US-based manufacturer, Daimler Trucks Asia began the process of setting up presence in Kenya’s second largest city, Mombasa.
The Cheki DF Automotive Report analyses auto valuation and consumer demand in the Kenyan marketplace for specific criteria such as body type, vehicle age, engine capacity and mileage. The market insights are provided by Data Fintech, based on data collected from Cheki.co.ke, the first automotive online marketplace in Kenya over a period of 2 years.