Currency Pressures Will Hit New Cars In 2012

The depreciating Kenyan shilling has been a burden on the country's used car segment for much of 2011, with most recent data from the Kenya National Bureau of Statistics reporting a drop of 18.2% year-on-year (y-o-y) in sales of second-hand cars in the first nine months of the year. However, there are now signs that sales of new cars, which have so far been largely unaffected, will feel the effects of the weak currency and rising interest rates heading into

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