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    Why Ruto May Not Be Sworn in Even if He Wins

    Why Ruto May Not Be Sworn in Even if He Wins

    READ: Did you know that the law now recognises Intersex children?

    Breaking: Judiciary fund operationalised 12 years later

    Rwandan’s in Diaspora Deposit Sh926 million

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    List of LG products that can be controlled and monitored via a mobile App

    Jiji Kenya Bags Two Awards on Safety and Classifieds Categories

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    Why IEBC Didn’t Print Special Ballot Papers for the Visually Impaired

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    LG unveils 2022 Side-by-Side and Top Freezers Refrigerator Lineup

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    NCBA launches Sh 2B Electric Vehicle finance deal for customers

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  • Markets
    Rwandan’s in Diaspora Deposit Sh926 million

    Rwandan’s in Diaspora Deposit Sh926 million

    LG unveils 2022 Side-by-Side and Top Freezers Refrigerator Lineup

    LG unveils 2022 Side-by-Side and Top Freezers Refrigerator Lineup

    Mdundo hits 20 million active users across Africa 

    Mdundo hits 20 million active users across Africa 

    NCBA launches Sh 2B Electric Vehicle finance deal for customers

    NCBA launches Sh 2B Electric Vehicle finance deal for customers

    Agilitee Unveils Electric Car to Retail at  Sh1.1Million

    Agilitee Unveils Electric Car to Retail at Sh1.1Million

    More Than a Million Children to Benefit From Sh3.1 billion Program

    More Than a Million Children to Benefit From Sh3.1 billion Program

    BrighterMonday Bags Top E-recruitment Portal of the Year Award 2022

    BrighterMonday Bags Top E-recruitment Portal of the Year Award 2022

    Anti-Counterfeit Authority Names Dr. Mbugua Njoroge as CEO

    Anti-Counterfeit Authority Names Dr. Mbugua Njoroge as CEO

    Technology Sector Partners Launch Digital Talent Program

    Technology Sector Partners Launch Digital Talent Program

  • Real Estate
    Fanaka Real Estate Unveils Foundation to Support Charity Programs

    Fanaka Real Estate Unveils Foundation to Support Charity Programs

    HFC launches Ultimate Banking for Customers in Kenya and Diaspora

    HFC launches Ultimate Banking for Customers in Kenya and Diaspora

    Centum Re Debt Status Analysis As Of 30th September 2021

    Centum Real Estate Posts Sh650M Operating Profit For The Year Ended 31st March 2022

    centum

    How the students have benefited from Centum PLC

    National Construction Authority Suspends Licences of 18 Contractors

    National Construction Authority Suspends Licences of 18 Contractors

    CCI Global, Gateway Real Estate Africa start Construction of new Contact Centre in Kenya

    CCI Global, Gateway Real Estate Africa start Construction of new Contact Centre in Kenya

    NEMA Re-Introduces Another Tax for Developers

    NEMA Re-Introduces Another Tax for Developers

    Centum Digitalizes Real Estate Sector

    Centum Digitalizes Real Estate Sector

    Superior Homes Launches Reward Program for Investors

    Superior Homes Launches Reward Program for Investors

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    Demand for Foldable Smartphones Projected to Increase in 2022

    Demand for Foldable Smartphones Projected to Increase in 2022

    NCBA launches Sh 2B Electric Vehicle finance deal for customers

    NCBA launches Sh 2B Electric Vehicle finance deal for customers

    BrighterMonday Bags Top E-recruitment Portal of the Year Award 2022

    BrighterMonday Bags Top E-recruitment Portal of the Year Award 2022

    Samsung Unveils New Foldable Devices

    Samsung Unveils New Foldable Devices

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    Gadgets: Immerse Yourself into The Amazing LG Home Audio Systems

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    Nokia Adds more Devices to its 2022 Gadget Potfolio

    Nokia Adds more Devices to its 2022 Gadget Potfolio

  • World Business
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    Kenyan Lands Ksh 2.6 Trillion Construction Project in Saudi Arabia

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    Former Japanese prime minister Shinzo Abe has been shot

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      Is KRA to Blame For Deaths Caused By Illicit Brews?

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      Opinion: Deploying contemporary Information Technology solutions for Academic Delivery

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      OPINION: Africa’s War to Secure the Internet  

      Prioritize long-term energy cost reduction for sustained industry growth

      Prioritize long-term energy cost reduction for sustained industry growth

Kenyan Business Feed
  • Home
  • News
    Why Ruto May Not Be Sworn in Even if He Wins

    Why Ruto May Not Be Sworn in Even if He Wins

    READ: Did you know that the law now recognises Intersex children?

    Breaking: Judiciary fund operationalised 12 years later

    Rwandan’s in Diaspora Deposit Sh926 million

    Rwandan’s in Diaspora Deposit Sh926 million

    List of LG products that can be controlled and monitored via a mobile App

    Jiji Kenya Bags Two Awards on Safety and Classifieds Categories

    Jiji Kenya Bags Two Awards on Safety and Classifieds Categories

    Why IEBC Didn’t Print Special Ballot Papers for the Visually Impaired

    Why IEBC Didn’t Print Special Ballot Papers for the Visually Impaired

    Business Tycoon Eyeing MP Seat Caught Up  in Sh300m fraud Case

    Business Tycoon Eyeing MP Seat Caught Up in Sh300m fraud Case

    LG unveils 2022 Side-by-Side and Top Freezers Refrigerator Lineup

    LG unveils 2022 Side-by-Side and Top Freezers Refrigerator Lineup

    NCBA launches Sh 2B Electric Vehicle finance deal for customers

    NCBA launches Sh 2B Electric Vehicle finance deal for customers

  • Markets
    Rwandan’s in Diaspora Deposit Sh926 million

    Rwandan’s in Diaspora Deposit Sh926 million

    LG unveils 2022 Side-by-Side and Top Freezers Refrigerator Lineup

    LG unveils 2022 Side-by-Side and Top Freezers Refrigerator Lineup

    Mdundo hits 20 million active users across Africa 

    Mdundo hits 20 million active users across Africa 

    NCBA launches Sh 2B Electric Vehicle finance deal for customers

    NCBA launches Sh 2B Electric Vehicle finance deal for customers

    Agilitee Unveils Electric Car to Retail at  Sh1.1Million

    Agilitee Unveils Electric Car to Retail at Sh1.1Million

    More Than a Million Children to Benefit From Sh3.1 billion Program

    More Than a Million Children to Benefit From Sh3.1 billion Program

    BrighterMonday Bags Top E-recruitment Portal of the Year Award 2022

    BrighterMonday Bags Top E-recruitment Portal of the Year Award 2022

    Anti-Counterfeit Authority Names Dr. Mbugua Njoroge as CEO

    Anti-Counterfeit Authority Names Dr. Mbugua Njoroge as CEO

    Technology Sector Partners Launch Digital Talent Program

    Technology Sector Partners Launch Digital Talent Program

  • Real Estate
    Fanaka Real Estate Unveils Foundation to Support Charity Programs

    Fanaka Real Estate Unveils Foundation to Support Charity Programs

    HFC launches Ultimate Banking for Customers in Kenya and Diaspora

    HFC launches Ultimate Banking for Customers in Kenya and Diaspora

    Centum Re Debt Status Analysis As Of 30th September 2021

    Centum Real Estate Posts Sh650M Operating Profit For The Year Ended 31st March 2022

    centum

    How the students have benefited from Centum PLC

    National Construction Authority Suspends Licences of 18 Contractors

    National Construction Authority Suspends Licences of 18 Contractors

    CCI Global, Gateway Real Estate Africa start Construction of new Contact Centre in Kenya

    CCI Global, Gateway Real Estate Africa start Construction of new Contact Centre in Kenya

    NEMA Re-Introduces Another Tax for Developers

    NEMA Re-Introduces Another Tax for Developers

    Centum Digitalizes Real Estate Sector

    Centum Digitalizes Real Estate Sector

    Superior Homes Launches Reward Program for Investors

    Superior Homes Launches Reward Program for Investors

  • Tech
    Demand for Foldable Smartphones Projected to Increase in 2022

    Demand for Foldable Smartphones Projected to Increase in 2022

    NCBA launches Sh 2B Electric Vehicle finance deal for customers

    NCBA launches Sh 2B Electric Vehicle finance deal for customers

    BrighterMonday Bags Top E-recruitment Portal of the Year Award 2022

    BrighterMonday Bags Top E-recruitment Portal of the Year Award 2022

    Samsung Unveils New Foldable Devices

    Samsung Unveils New Foldable Devices

    Samsung Unveils 2022 Electronics Line-Up Packed With New Innovations

    Samsung Unveils 2022 Electronics Line-Up Packed With New Innovations

    Gadgets: Immerse Yourself into The Amazing LG Home Audio Systems

    Gadgets: Immerse Yourself into The Amazing LG Home Audio Systems

    OPPO Find X5: Futuristic Technology Meets Ultra-Modern Design

    OPPO Find X5: Futuristic Technology Meets Ultra-Modern Design

    TikTok Moves to Tame Misinformation Ahead Of August Polls

    TikTok Moves to Tame Misinformation Ahead Of August Polls

    Nokia Adds more Devices to its 2022 Gadget Potfolio

    Nokia Adds more Devices to its 2022 Gadget Potfolio

  • World Business
    Kenyan Lands Ksh 2.6 Trillion Construction Project in Saudi Arabia

    Kenyan Lands Ksh 2.6 Trillion Construction Project in Saudi Arabia

    Former Japanese prime minister Shinzo Abe has been shot

    Former Japanese prime minister Shinzo Abe has been shot

    The World Bank to create a pandemic prevention fund

    The World Bank to create a pandemic prevention fund

    Why Mercedes Benz is Recalling Their Old Models

    Why Mercedes Benz is Recalling Their Old Models

    Cold comfort awaits a springtime Davos

    Cold comfort awaits a springtime Davos

    Meet The Richest Man Who Can Fund Kenya’s Budget Alone for 10years

    Meet The Richest Man Who Can Fund Kenya’s Budget Alone for 10years

    EA Sports End 29 Years of Video Game Partnership With FIFA

    EA Sports End 29 Years of Video Game Partnership With FIFA

    Central African Republic Adopts Bitcoin as an Official Currency

    Central African Republic Adopts Bitcoin as an Official Currency

    Netflix Stock Collapses After Losing 200,000 Subscribers

    Netflix Stock Collapses After Losing 200,000 Subscribers

  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion
    KenGen: How Dams Prevent Flooding – A Tale Of The Seven Forks Dam Cascade

    KenGen: How Dams Prevent Flooding – A Tale Of The Seven Forks Dam Cascade

    KBL Invests Sh76 Million In A National Consumer Promotion

    KBL Invests Sh76 Million In A National Consumer Promotion

    ‘Jua Kali’ Traders Equipped on How to Access to Global Markets

    ‘Jua Kali’ Traders Equipped on How to Access to Global Markets

    CIC Insurance Profits Rise 38 Percent to Sh464

    CIC Insurance Profits Rise 38 Percent to Sh464

    LG unveils 2022 Side-by-Side and Top Freezers Refrigerator Lineup

    LG unveils 2022 Side-by-Side and Top Freezers Refrigerator Lineup

    Kenyan Consumers to enjoy 20-minute delivery from Jumia Food

    Kenyan Consumers to enjoy 20-minute delivery from Jumia Food

    BURN Cookstoves Awarded ISO 9001:2015 Certification for High-Quality Standards  

    BURN Cookstoves Awarded ISO 9001:2015 Certification for High-Quality Standards  

    General Insurers pay claims worth Sh16.85Bn in three months

    General Insurers pay claims worth Sh16.85Bn in three months

    Agilitee Unveils Electric Car to Retail at  Sh1.1Million

    Agilitee Unveils Electric Car to Retail at Sh1.1Million

    • Agribusiness
    • Banking
      Britam settles on veteran Tom Gitogo as CEO

      Britam settles on veteran Tom Gitogo as CEO

      I&M Bank Launches Single Regional Account and Real-Time Payments Platform

      I&M Bank Launches Single Regional Account and Real-Time Payments Platform

      Absa Set for Sh2 Billion Digital Systems Upgrade

      Absa Set for Sh2 Billion Digital Systems Upgrade

      How are Metropolitan National Sacco services? Give feedback here

      How much money have you saved this year?

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      Absa hosts women entrepreneurs for the PanAfrican InspireME Conference

      Family Bank, Aqua to Advance More  Financing to SME’s in The Water Space

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      Kuscco’s George Magutu appointed to head global cooperatives body

      Kuscco’s George Magutu appointed to head global cooperatives body

      Faulu Revamps of its Trade Finance Solutions

      Faulu Revamps of its Trade Finance Solutions

    • Insurance
      CIC Insurance Profits Rise 38 Percent to Sh464

      CIC Insurance Profits Rise 38 Percent to Sh464

      Faulu Revamps of its Trade Finance Solutions

      Faulu Revamps of its Trade Finance Solutions

      Zamara Feted as the Overall Best Insurance Broker of the Year

      Zamara Feted as the Overall Best Insurance Broker of the Year

      How Rot in The Insurance Sector is Exposing Kenyans to Lose Funds

      How Rot in The Insurance Sector is Exposing Kenyans to Lose Funds

      APA Life Assurance Partners With Craydel To Financially Empower Students

      APA Life Assurance Partners With Craydel To Financially Empower Students

      Kenya Orient Life Assurance Bags ‘Pension Marketing Campaign of The Year’ Award

      Kenya Orient Life Assurance Bags ‘Pension Marketing Campaign of The Year’ Award

      Jubilee Acquires Additional Stake in SEACOM

      Jubilee Acquires Additional Stake in SEACOM

      Over 1000 Women Benefit From Absa, KNCCI Financial Training

      Over 1000 Women Benefit From Absa, KNCCI Financial Training

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      Family Bank is The Best in Customer Satisfaction-Survey

    • Manufacturing
    • Opinion
      Is KRA to Blame For Deaths Caused By Illicit Brews?

      Is KRA to Blame For Deaths Caused By Illicit Brews?

      Opinion: Deploying contemporary Information Technology solutions for Academic Delivery

      Opinion: Deploying contemporary Information Technology solutions for Academic Delivery

      How COVID-19 Impacted the Adoption of Digital Health Technology

      How COVID-19 Impacted the Adoption of Digital Health Technology

      Why Kenyan economy is headed Pakistan direction

      Why Kenyan Economy is headed Pakistan direction

      Opinion: Create favorable conditions for increased value add in manufacturing

      Opinion: Recovery, growth key to creation of jobs in industries

      Lifestyle innovation is making home-life healthier for families

      Lifestyle innovation is making home-life healthier for families

      Car Loans Offering Convenient Mobility To Middle And Low-Income Families

      Car Loans Offering Convenient Mobility To Middle And Low-Income Families

      OPINION: Africa’s War to Secure the Internet  

      OPINION: Africa’s War to Secure the Internet  

      Prioritize long-term energy cost reduction for sustained industry growth

      Prioritize long-term energy cost reduction for sustained industry growth

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Home Reports & Analysis

Report: Kenyans Are Buying Older Car Models Amid Covid

by santori
December 3, 2020
in Reports & Analysis
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First-time car buyers in Kenya are opting for older models manufactured between 2011 and 2012 as COVID-19 pandemic dents income, a report put together by Trends and Insights For Africa (TIFA) and Cheki Kenya shows.

According to the Kenya Used Vehicle Index Report, of the listed vehicles, online marketplaces, cars manufactured in 2012 accounted for 43pc of all listings followed by those manufactured in 2013 at 27pc and 2011 at 6pc.

Toyota dominates the listing accounting for 43.7pc, Nissan 11.5pc, and Subaru 7.3pc while Mitsubishi, Mercedes-Benz Volkswagen close top 6 most sold second-hand vehicles with 6.5pc, 5.4pc, and 5.3pc respectively.

“Used car imports in Kenya have been on a steady rise since the rise of infections in the country from early this year as many individuals opt for private means of travel in a bid to reduce the chances of being infected with the COVID 19 virus,” said Resian Leteipan, Cheki Kenya CEO.

Imported second-hand vehicles account for 85 percent of Kenyan car purchases.

The new index by the TIFA and Cheki Kenya will be expected to help buyers compare prices and price trends for different months, quarters, or years, enabling them to calculate the rate of inflation in the car market

“The KUV Price Index growth sustained a downward trend from an index of 102.81 in February compared to an index of 67.87 in March based on a fixed base Index. This decline is attributed to the adverse effects of COVID-19. The price index increased in August to 149.25. I foresee this index being used by car dealers, car buyers, financial and economic analysts as an indicator of pricing trends in the used vehicle market,” said Maggie Ireri, TIFA chief executive.

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The new index further shows that dealers in used cars reduced prices between February and March in response to reduced demand in an economy suffering from the effects of the COVID-19 pandemic which was majorly caused by the loss of jobs and the inability of many households being unable to borrow and service bank loans.

“Sale of cars seized by banks could have potentially increased supply in the market, further putting downward pressure on prices,” added Leteipan.

The data analyzed also showed large declines were recorded for pick-ups, 4-wheel drives and SUVs, saloons, hatchbacks, buses, vans, and mini vehicles. The prices increased between April and May 2020, with the station wagons, coupes, and 4-wheel-drives/SUVs registering the highest variation.


Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]

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