Nigerian Car dealer Cars45 has announced plans to increase its investment in Kenya two years after opening shop in the market.
Regional Manager Andrew Agbro says the firm plans to open two branches in Mombasa and Kiambu Road as they eye the increasing middle class.
Agbro says the Kenyan automotive market is currently ripe for investment despite the Covid-19 Pandemic that has hit people’s pockets hard.
“We have seen demand for cars, especially during Covid-19 Pandemic as people are afraid of using public transport and are now going for cars, we have also seen people offloading vehicles as their economic status went a down hill,” he said.
He says used foreign vehicles have gone up by 13.21 percent on average due to the pandemic and the fact that Japanese car owners were not releasing their cars for sale to the companies that import to Kenya.
“For example, a foreign used Mazda Demio that would cost Sh530,000 in 2020 is currently at Sh600,000, ” he revealed.
Cars45 is tech-enabled automotive trading platform that provides users with a space where they can sell their cars directly and get paid in 45 minutes.
Sellers have access to standardized pricing with a hundred percent visibility into price offers.
The platform also provides vehicle financing background checks, vehicle history, insurance, after sales support and servicing.
“For used cars, the price is dependent on the condition and for this reason buying a second hand vehicle is only half the battle of the decision making process. The other half comes into play where you have to be cautious about the fraudulent nature around the used car market not to mention the actual condition of the car you are chasing. This why Cars45 Carrie’s a 212-point inspection which helps the individuals know the actual state of the cars they purchasing which in turn helps them make informed decision before buying, ” he noted.
Source: Capital FM Kenya.