Mercedes Benz and Range Rover Orders Up By 73pc In Kenya
The Kenyan Elite, have increased orders for luxury cars like Mercedes-Benz, Porsche and Range Rover by 73pc in Quarter one of 2020 defying the general slowdown in economic activity in the world.
A total of 45 units of high-end cars were sold by dealers in the review period compared to 26 units a year earlier data from the Kenya Motor Industry Association (KMI) shows. Mercedes Benz was the top-selling luxury brand at 17 cars, land Rover had 12 and 8 BMWs. Porsche Centre Nairobi sold 7 cars and Bentley sold 1
Wealthy Kenyans buying luxury cars was a better performance compared to the overall new vehicle market that saw sales slump 1.6pc over the same period to 2,698 units from 2,741 units.
Luxury car dealers now expect to record bad numbers after demand collapsed due to the lack of bank financing and the spread of the coronavirus.
Government agencies like the Judiciary, private companies and high-net-worth individuals are the buyers of luxury cars in the country.
In 2019, Wealthy Kenyans cut orders for these luxury cars by 43pc in the nine months to September due to franchise and supply chain disruptions in the industry as well as scrutiny from agencies like the Kenya Revenue Authority (KRA)