The Car Sales Industry in Kenya: Trends, Challenges, and Opportunities
The car sales industry in Kenya has experienced significant growth over the past decade. With an increasing middle class, improved financing options, and a growing demand for personal and commercial vehicles, the market presents a lucrative opportunity for dealers and investors. However, the sector also faces several challenges, including high taxation, import restrictions, and competition from ride-hailing services. This article explores the trends, challenges, and opportunities in Kenya's car sales industry. Trends in the Kenyan Car Market Rising Demand for Second-Hand Cars The majority of cars sold in Kenya are second-hand imports, primarily from Japan, the UK, and Dubai. The preference for used cars is driven by their affordability compared to brand-new models. According to industry reports, over 85% of vehicles registered in Kenya are used imports. Growth of Online Car Sales Platforms Digital transformation has significantly impacted the car sales industry. Online marketplace...