Forex Issues Will Continue To Dog Used Car Sales

Although BMI has previously commented on the effects of a weakening Kenyan shilling on the country's used car segment (see 'Weak Shilling And Low Stocks Mean Bleak Outlook For Used Cars', September 14 2011), new data show the extent of the problem, and the figures are not expected to improve in the short term. Data from the Kenya National Bureau of Statistics show that used car sales for the eight months to August 2011 were down 20% year-on-year (y-o-y) to 33,073 units, from 39,790 in the same period of 2010 previous year.

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