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Motor Vehicle Importers Lose Billions
Motorists on a Colossal Traffic Jam Along Busy Uhuru Highway in Nairobi
Simon Kiragu
Kenyans.co.ke
Motor vehicle importers in Kenya have recorded losses running into billions of shillings after sales and imports dipped in 2020.
Charles Munyori, Secretary-General of Kenya Auto Bazaar Association (KABA) stated that the year posed a challenge especially after the outbreak of Covid-19.
The economic disruption also reduced the demand for vehicles in the country. Munyori said that second-hand models account for over 85 percent of all imported vehicles in Kenya.
Data by the Kenya Revenue Authority (KRA) disclosed that import of new and used automobiles declined by 7 percent in the year ending December 2020, compared to the same period in December 2019. 85,624 were imported in 2020 while 92,120 units were imported in 2019. This indicates that the imports declined by 6,496.