Kenyan Vehicles hit by the effects of strict social distancing measures and widespread travel restrictions. In the first half 2020 sales slump down at 1.709 units (HCVs not included) with the market leader, Toyota, losing over 22%.
Q2 2020 Light Vehicles sales figures
Due to the still strong presence of imported pre-owned vehicles and slow development of local economy, the Kenyan new light vehicles market was far to be considered solid. However, the effects of strict social distancing measures and widespread travel restrictions further deteriorated the consumer demand impacting heavily the market during the Q2 of the current year.
Sales have already been reported down in double digit during the Q1, but the end of first half was at only 1.709 units sold, down 21.1%m with car passengers segment down 38.4%.
The market leader was Toyota, reporting 22% of sales lost, followed by Nissan (-20%) and Mitsubishi (+16.1%).
The economy will have deteriorated further in the second quarter after growth slumped to a two-and-a-half-year low in the first quarter as strict social distancing measures and widespread travel restrictions undermined the services, tourism and transportation sectors. Merchandise exports dived at the sharpest pace in nearly a year in April, and likely shrank further in May–June amid eviscerated foreign demand.
Moreover, containment measures likely curbed household spending and investment activity in Q2, with a weaker shilling further exacerbating the downturn
Recent market trends
Following a quite positive period, ended with the all time record hit in the 2015 with 19.549 vehicles (including HCVs & Bus) sold, Kenyan vehicles market was hit by the economic crisis and started falling down, losing in two years over 40% of volume., with 2017 total vehicles (including HCVs) at 10.831 (-19.8%).
In 2018 the mood changed and the market recovered, sustained by private consumption and the market score a recovery above expectations. Indeed, according to data released by the Kenyan Motor Industry Association, in the market grown, gaining 31.2% from 2017, with registrations at 14.251.
In 2019 despite a very good start, with the Q1 ended up in double-digit, the market has progressively lost steam ending the Q4 with a sharp decline. Full-year sales have been 13.130, down 7.9%. While HCVs segment was steady, the car passengers dropped down in double-digits.
Just a special book: “There is no limit to the most complex things we will make.”
Monday October 26, 2020
I’ve read Kevin Kelly’s book What Technology Wants two times now, and often re-read highlights from the book, and I’m always discovering new things I missed before. I think one reason – among many – for the wonderful breadth and depth of his insights, is his ability to analyze technology as if it were a […]
Highlights from Layered Money by Nik Bhatia
Saturday February 13, 2021
An easy to read tour through the history and evolution of money types (from gold coins to today’s fiat paper notes), presented through a useful framework of money layers (that together form a pyramid). Amazon Kindle. Here are some of my favorite highlights (copied verbatim): — In the second century under the rule of Marcus […]
The post Just a special book: “There is no limit to the most complex things we will make.” appeared first on Celadon Saigon.