How taxes, battered shilling cut car sales for second year running

Car assembly

Motor vehicle assembling at the Associated Vehicle Assemblers plant in Mombasa. 

Photo credit: File | Nation Media Group

New vehicle dealers and assemblers are staring at reduced sales for the second year in a row, reflecting a tough economic setting defined by reduced corporate earnings, high interest rates and weakening shilling that has inflated showroom sticker prices.

Industry data shows demand for new vehicles has dropped by double-digit rates for the first time since the pandemic year, pointing to thinning job opportunities in the sector.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.