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Motorists in Kenya will have an opportunity to trade in their old Toyota car models and top up money to get a new one.
Toyota Kenya, which has rebranded to CFAO Motors Kenya Limited, said they would work with its affiliated company Automark, which deals with certified pre-owned vehicles.
The move is Toyota Kenya's latest strategy of growing the sale of its new vehicles.
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CFAO Motors Kenya Limited Arvinder Reel said that they are implementing the strategy to grow the sale of its new vehicles.
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According to the news portal, the deal will allow customers, who include wealthy households and private firms, to upgrade their cars.
The CEO said the firm was in the process of coming up with a checklist that will guide on the value of a trade-in vehicle and other parameters such as year of manufacture and mileage.
The checklist will review the vehicle's overall condition to ensure it is accident-free.
For a vehicle to be traded in, the vehicle must also not have been stolen and have proper documentation. Additionally, its engine should be in good working condition, among other parameters.
Apart from Automark, the company will work with another affiliate, AutoFast, which offers services to the vehicles.
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Additionally, CFAO will work with Winpart, which sells second-hand genuine spare parts.
The move by CFAO Motors Kenya came when the number of high-end cars sold in Kenya in 2021 declined by 25% to 114 units, down from the 152 units sold in 2020.
Kenya Motor Industry Association data shows that most luxury car dealers registered declined sales on the back of higher showroom prices and supply problems caused by a shortage of semiconductors globally.
Luxury car dealers, including DT Dobie and Inchcape Kenya, all recorded a decline in orders.
Meanwhile, the number of imported second-hand cars have risen, reaching 78,304 units in the nine months to September 2021.
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The Kenya National Bureau of Statistics (KNBS) said the figure marks a 21% rise from the 64,551 units imported in a similar period in 2020.
Experts said the increase in demand could be on the back of overflows of the orders made in 2020 when COVID-19 restrictions disrupted shipments.
The restrictions led to the late arrival of vehicles into the country.
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Source: TUKO.co.ke
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