Old vehicles earn Kenyans tidy profits

Khalif Kairo a car dealer posing for a photograph at Diamond plaza in Nairobi on March 31, 2022. PHOTO | EVANS HABIL | NMG

When Toyota Vitz and Nissan Note hit Sh1 million, ignited by demand and a global shortage, Kenyans with older vehicles realised that they are sitting on wealth.

It used to be a law as sure as gravity: a car depreciates the moment you drive it off. But nothing is the same anymore, and the pandemic has turned cars — typically seen as depreciating assets — into investments.

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