Used car prices plunge as corona cuts demand

Dealers in used cars have been forced to cut prices by up to 15 percent in response to depressed demand in an economy reeling from the effects of the Covid-19 pandemic.

Mazda Demio, Toyota Fielder, Toyota V8 and Subaru Outback are among the popular models whose yard prices have dropped by a range of between Sh100,000 to Sh1.2 million since the country recorded its first confirmed case of the coronavirus on March 12.