Growing demand stirs up competition in luxury car market
In a market dominated by heavy commercial vehicles and pick-ups, competition for a share of the luxury segment of the new car market in Kenya is slowly taking shape. This has been seen in the growing rivalry between luxury models even as new players set up shop. The latest entry is RMA Group. The firm has set up a modern showroom in Nairobi’s Westlands area, which points to growing appetite for top notch models. Super opportunities Like many other firms eyeing a slice of Kenya’s auto market, RMA’s entry is premised on opportunities arising from a growing economy. “There is high demand for luxury cars in Kenya due to growth in the economy.
Read more: Growing demand stirs up competition in luxury car market
RMA taps into Kenya’s growing new car market
Vehicle sales in Africa have risen significantly in the last few years, following growing demand among the continent’s burgeoning middle class that are trading up public transport and jalopies for new personal cars. Competition is rife in the auto industry as existing global brands and new entrants fight off competition from second-hand cars.
Thailand-headquartered RMA Group expanded to Kenya earlier this year following an opportunity created by the review of the Jaguar Land Rover distributorship contract. Previously, the Jaguar Land Rover franchise deal was held by the CMC Holdings which is set to be acquired by Dubai-based conglomerate Al-Futtaim Group for US$86m.
Kenya Airways poised for lift-off
Kenya Airways expected to post higher profits next year, thanks to the planned delivery of fuel-efficient planes and the expansion of its Nairobi hub, the carrier said yesterday.
The company, which is 26.73 percent owned by Air France-KLM and 29.8 percent by the Kenyan government, is ranked among the largest carriers in sub-Saharan Africa.
Ford to launch 17 vehicles in Middle East and Africa by 2015
Ford, one of the world's largest auto makers, has its operations active in a lot of countries, both developing and developed. The USA-based auto maker has developed its global strategy with a handful of cars that sell in huge numbers. At present, it is performing really well in India as Ford EcoSport has virtually taken the market by storm. Now, according to reports, the Blue Oval has announced launch of 17 new vehicles over the next 24 months. As indicated, this move is an attempt from the company to facilitate growth in regions like Middle East and Africa.
Read more: Ford to launch 17 vehicles in Middle East and Africa by 2015
