Number of Kenyans buying luxury cars is on the decline
Jaguar and Porsche are among the top brands that recorded the largest decline in sales
Dealers sold 240 units in the review period, down from 285 units in 2016, according to data from the Kenya Motor Industry Association.
Orders for luxury car brands including Porsche, Mercedes, and Land Rover slumped with BMW being the only high-end brand to register higher demand.
Jaguar, sold by RMA Kenya, recorded the largest decline to move 16 units last year compared to 39 units in 2016.
Porsche — sold by Porsche Centre Nairobi — came in second with sales dropping to 38 units from 54 units in the same period.
Jeep Grand SUV (sold by DT Dobie) moved seven units, down from 17 units while sales of Land Rover (also by RMA Kenya) fell to 76 from 81.
Orders for Mercedes declined to 64 from 68. BMW’s dealer Bavaria Auto saw its orders rise to 39 from 26, bucking the industry slump.
Luxury car sales performed better than the broader new vehicle market which reported a 20.3 per cent sales dip to 11,044 units last year in what was partly blamed on a weaker economy.
But despite the slump in sales, luxury car dealers continue to launch new models, competing on pricing and brand reputation.
The period saw Bentley launch in the Kenyan market last September and sold two of its brands – Bentayga (SUV) and Continental GT (coupé). The British car manufacturer's local dealership was recently secured by transport firm Multiple Group.
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