The number of new cars sold in Kenya has increased by a staggering 35% from last year. In the half-year ended June 2021, sales of new luxury vehicles have soared by 3.8% according to an automotive report.
The marginal increase of new car sales can be attributed to various factors including steady recovery from economic effects of the health pandemic among others.
Kenya has been reported to host a rising class of dollar millionaires drawn from careers such as technology and financial services. According to a 2020 Wealth Report by Knight Frank, Kenya produced mega-millionaires by a staggering 263%, the highest in the world, between 2014 and 2019.A Bentley Bentayga pictured at the Jomo Kenyatta International Airport.File
Seriously moneyed individuals multiplied in number from about 800 individuals to brimming over 3,000 millionaires at the close of the past decade.
As a result, growth in Kenya’s niche market has been directly proportional to added personal wealth and more disposable income. Moreover, the country’s ex-pat community has grown, making it viable for global shops and luxury brands to establish themselves locally.
Luxury car brands including Bentley and Porsche penetrated Kenya's motoring scene. High end car brands that were already in Kenya revamped their efforts and have seen improved sales as well.
A swell in demand for Jaguar and Mercedes-Benz models in the region has largely attributed to the overall sales mark-up of 3.8%. Prominent car dealerships DT Dobie and Inchcape Kenya managed to sell 82 cars by the review period this year. Last year, a cumulative 79 units were sold off the above-mentioned dealerships’ showrooms.
DT Dobie is a vehicle franchising company. In Kenya, they are official distributors of Mercedes-Benz, Volkswagen and Nissan models. The firm has branches countrywide. It sold 38 Mercedes-Benz cars this year while 37 units moved out its showrooms in 2020. DT Dobie has held the top position in the luxury car segment.
On the other hand, Inchcape operates Kenya’s dealership for a line of European luxury automotive brands, namely Jaguar Land Rover and BMW. It closed deals on 18 Land Rover models, 14 BMWs and two Jaguar cars in the half-year ended June 2021. In 2020’s first half, no new Jaguar cars were sold.
Marketed as “the strongest and most capable vehicle ever created,” Land Rover’s latest Defender model is reported to have overtaken other models in the Land Rove/Range Roverr lineup in sales. This new car emanates from the iconic Defender whose rich history spans 70 years with its 90 and 110 variants.The all-new Land Rover Defender traversing the African landscape in 2020.inchape.com
Bentley has sold one car this year so far while Porsche sold 9 units off its showroom, just as in 2020. In addition to the unchanging sale numbers, Porsche Centre Nairobi is set to close shop over as its franchising contract was terminated by Porsche, the German manufacturer, in January 2021.A lineup of Porsche models outside at the Porsche Center Nairobi in 2016.uzamart.com
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