Corporate News
By VICTOR JUMA, vjuma@ke.nationmedia.com
In Summary
- General Motors East Africa (GMEA) grew its market share to a new high of 30 per cent in the first quarter.
- This was driven by significant market share losses by its top rivals including Toyota Kenya and DT Dobie.
- The dealer of Isuzu and Chevrolet brands sold 1,297 units in the period compared to 970 units a year earlier, making it the largest dealer.
General Motors East Africa (GMEA) expanded its market
share to a new high of 30 per cent in the first quarter, amid flat
sales in the overall new vehicle market.
This was driven by significant market share losses by its top rivals including Toyota Kenya and DT Dobie.
Total sales in the industry stood at 4,301 units in
the period compared to 4,287 a year earlier, according to statistics
from the Kenya Motor Industry Association (KMI).
GMEA was, however, one of the few motor dealers
that grew sales, boosting its market share to 30 per cent from 23 per
cent in the same quarter last year.
The dealer of Isuzu and Chevrolet brands sold 1,297
units in the period compared to 970 units a year earlier, making it the
largest dealer.
Toyota’s market share fell to 24 per cent from 34 per cent, reflecting its drop in sales from 1,459 units to 1,042 units.
The dealer’s stronger performance last year was
helped by a contract to supply the police service with 1,100 vehicles.
Toyota had also gained from high sales of its Hino brand of buses
recently introduced in the Kenyan market.
Simba Corporation, which sells Mitsubishi trucks and BMW cars, also saw its market share drop from 17 per cent to 15 per cent.
DT Dobie’s loss of its Nissan franchise to rival
Crown Motors saw its market share decline to three per cent from eight
per cent.
The dealer which sells Mercedes cars and trucks is
betting on its recent acquisition of the Greatwall and Volkswagen
dealerships to grow sales in the coming years.
CMC Holdings joined GMEA in growing its market
share to nine per cent from eight per cent, riding on the popularity of
its Ford pick-ups.
The dealer managed to grow its market share despite losing the Volkswagen franchise to DT Dobie.
The dealer managed to grow its market share despite losing the Volkswagen franchise to DT Dobie.
The market share losses by majority of the top
dealers saw the combined share of small firms including Tata Africa and
Porsche Centre Nairobi rise to 19 per cent from 10 per cent.
Motor dealers said they expect the industry’s
full-year sales to reach 19,000 units —which will be a record high and
will beat the previous peak of 17,499 units last year.
“We are projecting sales to reach 19,000 units this year,” GMEA’s chief executive Rita Kavashe told the Business Daily in an earlier interview
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