Kenya's premium car segment shines

Kenya’s premium car segment
has been identified as one
of seven sectors “ripe for
investment” in sub-Saharan
Africa by BMI Research.
In an October 2015 report
it says that, although income
inequality in the region is
a barrier to entry for many
volume car brands, it provides
one of the biggest growth
opportunities for those at the
premium end of the spectrum.
Premium car manufacturers
were among the best
performers in a record year for
Kenyan vehicle sales in 2014.
Spending on premium cars
is supported by a 28% growth
in the per capita income of
the richest 10% of the Kenyan
population between 2010 and
2014.
Monthly net income has
risen to an estimated
US$ 1 821.
Looking ahead, the report
says the “real growth” is to
come over the next five years,
when BMI expects the net
income per capita of the richest
10 % to more than double.