Second-hand car sales drop on rate cap, dealers say

Imported Second hand cars at a yard in Mombasa on 14th July 2017. PHOTO | KEVIN ODIT | NMG

Sales of second-hand vehicles have dipped sharply over the past six months as industry players blame the cap on bank interest rates.

The slow movement of units has also been caused by an increasingly tense political environment that has seen many prospective buyers adopt a wait and see attitude ahead of the August 8 polls.

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