•In terms of specific models, the Isuzu D-Max is the most popular, followed closely by its rival, the Toyota Hilux, with market shares of 17.5 percent and 14.7 percent, respectively.
•Toyota brands, under CFAO, still dominate with a 47 percent market share, surpassing Isuzu at 26.6percent.
Image: JACKTONE LAWI
New taxes and regulations on the motor industry have hit sales, according to latest data from the automotive sector.
Kenya Motor Industry Association says that new vehicle sales have declined by 13 percent over the eight months leading to August 2023, primarily attributed to the challenges faced by the industry.
The country has faced higher inflation numbers and taxes that have eaten up Kenyans disposable incomes in the second half of the year.
Furthermore, KMIA data reveals a monthly decline in the demand for showroom vehicles.
In August alone, local players managed to sell an improved total of 985 units, whereas monthly sales for July only reached 144 units, including locally assembled vehicles.
“Local auto companies such as Isuzu East Africa, CFAO Group (formerly Toyota Kenya), Nissan, Simba Corporation (Simba Motors), and Inchape Kenya Limited, along with other players, collectively reported a total of 7,621 units sold during this review period,” reads the KMIA report.
This is a decrease from the 8,752 units sold in the previous period, indicating that vehicle manufacturers sold 1,131 fewer units during this time frame.
Comparing these figures to 2021, the industry sold 8,811 units in the eight months leading up to August, signalling a continuous downward trend since the onset of the COVID-19 pandemic.
However, despite the reduced demand since 2020, specific vehicle brands have remained popular on Kenyan roads.
In 2021, the Isuzu D-Max retained its status as one of the best-selling vehicle brands in the country.
Toyota brands, under CFAO, still dominate with a 47 percent market share, surpassing Isuzu at 26.6 percent.
This means that these two brands accounted for nearly three-quarters of Kenyan sales for the year, with Ford, Nissan, and Volkswagen rounding out the top five.
In terms of specific models, the Isuzu D-Max is the most popular, followed closely by its rival, the Toyota Hilux, with market shares of 17.5 percent and 14.7 percent, respectively.
The Toyota Land Cruiser 70 has also claimed a spot on the podium with an 8.8 percent market share, surpassing the Isuzu N-Series, Toyota Land Cruiser 79, and Ford Ranger.
When considering brand-wise data for the first half of 2023, Isuzu maintains its leadership position with a 46.1percent market share.
However, its sales have declined by 5.5 percent in the first six months of the year. Toyota follows with a 31.8percent market share and a 1.0 percent increase in volume. Chery has emerged as the third best-selling brand in Kenya.
Currency fluctuations, unstable interest rates, and the high cost of fuel continue to pose significant threats to the sector's survival in the current year.
In the latest review, the price of super petrol has increased by Sh16.96 per litre , retailing at Sh211.64 in Nairobi and its environs.
Diesel now costs Sh200.9 per litre, and kerosene is priced at Sh202.6 per litre. Diesel and kerosene prices have increased by Sh21.32 per litre and Sh33.13 per litre, respectively.