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New vehicle dealers raise prices on weak shilling
Avenue Car Hire Limited operations director Neel Shah, and Isuzu East Africa MD Rita Kavashe during the handover of a fleet of 43 locally assembled Isuzu D-Max Pick-up vehicles valued at Sh 189 million. FILE PHOTO | DIANA NGILA | NMG
New vehicle dealers and assemblers have raised prices by double-digits on the back weakening shilling and the rising cost of credit in a move that is likely to hurt sales for the second year running.
Industry players said they were not only battling a slide in the value of the local unit against major international currencies but also a shortage of the US dollars, which has affected the timely payment of suppliers abroad.
