OLX Kenya logo[photo/hapakenya.com]
Online marketplace OLX has recorded a 10 percent increase in second-hand car searches on the platform during the peak car sales season which began during the second half of the year.
OLX country manager Peter Ndiang’ui said that many people take advantage of end-year price slashes by dealers who are preparing for new model sales the following year.
“As we wrap up the year, the vehicle industry dynamics tend to change in Kenya as is in most markets owing to the business targets to be met by the car dealers. It is also during this period that discounts are offered to lead to an increase in the number of cars sold locally at a slightly cheaper price both online and offline,” said Ndiang’ui.
Motor vehicles that are more than eight years old are not allowed into Kenya as per the quality standard by the Kenya Bureau of Standards, a requirement enforced by the Kenya customs. This year, only vehicles manufactured in 2010 onward were allowed into the country.
However, 2010 vehicles will cease being sold beginning next. “We also noted that prices of 2010 vehicles in our site generally went down as the year came to a close.
A saloon car that would cost an average of Sh700,000 in the beginning of the year went down by 20 percent within the second half of the year, due to the requirements by the Kenya Bureau of Standards,” he said. OLX also attributed the increase in car searches to the close of electioneering that has seen dealers struggle with old stock.