Dealer ships in Jaguar SUV model for luxury lovers
RMA Kenya chief executive Sanjiv Shah. PHOTO | FILE
What you need to know:
RMA Kenya has launched the first Jaguar sports utility vehicle (SUV) dubbed the F-Pace.
The model is retailing at between Sh8 million and Sh14 million depending on specifications.
The F-Pace has an eight-speed automatic transmission and allows drivers to manually control gear shifts via the steering wheel paddles.
Motor dealer RMA Kenya has launched the first Jaguar sports utility vehicle (SUV) dubbed the F-Pace as it seeks to grow sales in the competitive luxury car market.
Chief executive Sanjiv Shah said the model was retailing at between Sh8 million and Sh14 million depending on specifications.
“The Jaguar F-Pace is available immediately. It is priced competitively for its class,” said Mr Shah in an interview, adding that RMA had already confirmed pre-orders from clients.
The F-Pace is the first SUV from Jaguar Land Rover (JLR) and adds to RMA’s line of Jaguar cars (sedans and coupes). It comes with the option of two and three-litre diesel engines and a three-litre petrol engine.
The F-Pace has an eight-speed automatic transmission and allows drivers to manually control gear shifts via the steering wheel paddles.
It will compete against rival luxury SUV brands such as BMW X3 and X4 sold by Bavaria Auto, Porsche Cayenne (Porsche Centre Nairobi) and Mercedes GLE series (DT Dobie).
Local motor dealers are expanding their range of luxury SUVs targeting demand from customers seeking more refined cars with the power and high ground clearance to tackle bad roads.
The firms previously focused on low-ride luxury cars such as Mercedes S Class and BMW 7 series which are mostly used by businessmen and executives on the relatively better-maintained city roads.
High interest rates have dented demand for luxury cars in recent months, with RMA’s sales remaining flat as rivals’ sales dropped.
Data from the Kenya Motor Industry Association (KMI) shows that sales of high-end cars stood at 64 units in the first quarter of the year compared to 94 units a year earlier.
Total sales in the new vehicle market dropped 11.4 per cent to 3,807 units in the same period, with luxury car dealers taking a harder hit as wealthy individuals and private firms cut orders.
Banks raised interest rates up to 24 per cent in the first quarter compared to 16 per cent a year earlier on shilling-denominated loans.
Interest on euro and dollar denominated loans also went up from an average of seven per cent to touch highs of 11 per cent in a similar period.
Besides the high interest rates, demand for new vehicles has been hit by weakening of the shilling and banks’ stringent credit policies.
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