New vehicle sales fall 18.7pc on credit crunch, poll doubts

A KK Security vehicle at the Toyota Kenya showroom in Nairobi. FILE PHOTO | SALATON NJAU | NMG

New vehicle sales dropped 18.7 per cent in the first nine months of the year, with dealers attributing the slump to tighter credit markets and political uncertainty.

Dealers including Toyota Kenya and Isuzu East Africa sold 8,427 units in the period ending September compared to 10,368 units a year earlier, according to data from the Kenya Motor Industry Association.

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