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Kenyans continue to shift demand from Toyota cars amidst rising prices as dealers cut the importation of the vehicles.
The price of a Toyota Vitz increased by 44% in February 2022 hitting KSh 1.07 million as prices of imported used car models continued to rise.
Toyota Premio landing price increased to KSh 2.2 million from KSh 2 million in February 2022 while Toyota RAV4 increased to KSh 3 million compared to KSh 2.8 million in the previous months.
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Nissan Sylphy (Blue Bird) current price is KSh 1.5 million and Mazda Axela sells at KSh 1.6 million, making them affordable car brands for most Kenyans, reported Business Daily.
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Kenya Auto Bazaar Association secretary-general Charles Munyori revealed that Kenyans currently prefer Sylphy and Mazda Axela and CX5 car models.
Munyori noted that car dealers scaled down the importation of Toyota brands saying they 'tie up' their money.
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The trend is attributed to the shortage of raw materials like semiconductors used in the production of car electronics.
Dealers also link this to the increase in import prices of used cars amidst the looming shortage of dollars.
Earlier, TUKO.co.ke reported how the dollar shortage in the country is affecting traders and consumers.
The Kenyan shilling has been on a slide since December 2021 because of the economic imbalance where Nairobi imports more goods than it exports.
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Source: TUKO.co.ke
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