The number of new vehicles sold in the country dropped by 16.96 per cent month-on-month in April, industry data shows. The Kenya Motor Industry Association shows vehicles sold last month declined to 955 units from 1150 units in March.
Market leader General Motors East Africa ( which will imminently rebrand to Isuzu Motors) closed April sales at 384 units, a marginal drop of 1.29 per cent from 389 units sold in March. The American giant General Motors is in the final stages of its exit from the East African market having sold its entire 57.7 per cent stake in General Motors East Africa to Japan’s Isuzu Motors.
Isuzu Motors cited the contraction of credit especially to the SME sector who comprise most of the company’s business.
During the month, Toyota sales dipped by 35.95 per cent to 155 units in April down from 242 units in March.
Mitsubishi sales decreased by 5.71 per cent to post 132 units sold in April, a decline from 140 units sold in March.
Total exports in April declined drastically by 80 per cent to seven units sold from 35 units sold in the previous month.