Credit crunch prompts vehicle buyers to shift towards low priced imported cars

Vehicle buyers made a shift towards low-priced imported cars following tough economic climate in 2017 punctuated by an acute credit squeeze from banks and prolonged election cycle.

“More people are going for small budget cars such as Toyota Belta,” said Charles Munyori, Secretary-General of Kenya Auto Bazaar Association, a lobby group for second-hand car dealers.

“Increased use of services such as Uber definitely has a hand in this as young people buy units they can afford for business.”