Toyota Kenya has launched a new vehicle in the public transport sector with the aim of maximising profits for matatu owners.
Toyota Kenya Marketing Manager James Maingi said the company has partnered with matatu owners because the new vehicle is the most ideal in the market to reap profits even after the fuel hike.
Addressing a meeting attended by Mt Kenya Matatu owners on Saturday, Maingi said the company had developed the vehicle which has a lower horsepower enough to handle the capacity passengers and therefore minimising the consumption of the vehicle.
He said the cost-benefit of the vehicle amounts to almost half of the common vehicles in the matatu industry.
"We have tested this new shark and found out that its the most ideal vehicle in the market that a matatu operator can use comfortably and reap benefit from," said Maingi.
"We have also been able to work with Cooperative Bank as the financier to fund our customers thus making it very easy for us to deal vehicles for them," he added.
Mount Kenya Matatu Owners' Association chairperson Lufas Kariuki commended the move, noting that it was a bold step by Toyota Kenya to consider those in the public transport.
He said the price of the new vehicle is affordable taking into consideration its cost-benefit and also their three years warranty to matatu operators.
Kariuki said the matatu industry has become very unstable due to the now and then hiking of fuel prices where the fare prices don't hike unless under very special circumstances, thus causing owners to incur unexpected losses.
"We have had a lot of problems when the fuel prices hike because we are unable to overcharge our customers and therefore we are the people who incur the loss. We would be very delighted to work with Toyota Kenya in their new project where we don't have to feel any pinch even if the fuel prices hike," said Kariuki.
This comes barely a month after the public outcry over hiked fuel prices which led to the hike in fare prices with 20 per cent in the Mt Kenya region.