Sales of new luxury cars rose 4.2 per cent to 198 units in the nine months ended September, trailing the overall market which saw a 28 per cent surge in orders to 10,793 units in the same period.
The industry recorded a mixed performance, with Porsche, Land Rover and Jaguar sales rising significantly while those of Mercedes, BMW and Jeep Grand Cherokee slumping. Sales of the luxury cars stood at 190 units a year earlier, according to data from the Kenya Motor Industry Association (KMI).
Dealers attributed the relatively sluggish sales growth to banks’ reduced appetite for lending and the government’s profiling of tax cheats using their conspicuous consumption.
