Vehicle sales down nine per cent in May

Business Daily Kenya:  Kenya’s auto industry turned in an underwhelming performance in May as sales disappointed despite an inspiring first...

Business Daily Kenya: 

Kenya Motor Industry Association showroom. Photo/Courtesy

Kenya’s auto industry turned in an underwhelming performance in May as sales disappointed despite an inspiring first quarter of 2017. The vehicle market edged down nine per cent last month with 946 units sold compared to 1,039 units in 2016, according to the latest report by Kenya Motor Industry Association (KMI).

This compares to 948 vehicles sold in April against 1,103 units sold by same period in 2016 and 1,122 vehicles in March this year compared to 1,379 units sold over a similar period in 2016.

Passenger car sales, in particular, plummeted again in the first three months of the year, dragging the country’s auto sales to its second straight quarterly decline since 2015.

Industry forecast Overall, the annual industry is forecast at 13,500 units. In the first three months of the year, car makers have sold just 2,682 vehicles, which is 1,002 units fewer over a similar period in 2016, with all signs indicating a bleak future for car manufacturing business, even though trucks and SUVs have done well.

Some analysts now read the latest trend as a looming problem likely to carry on for the reminder of the year, with factors like reduced infrastructural developments and August polls central to that ‘crunch.’

Major player Even major player like General Motors East Africa (GMEA YTD 2017) domestic sales have been hit, having sold just 1,622 units since the year began compared to 1,893 units sold by similar period in 2016, a 16.25 per cent volume decline.

The post Vehicle sales down nine per cent in May appeared first on Mediamax Network Limited.

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