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Depreciation of Car in Kenya, Automotive Market in Kenya. | Data Fintech
 

Depreciation hits cars worst after 4 years.

Kenyan Presidents have very generous packages when it comes to remuneration that include and are not limited to Fuel, Housing, travel, entertainment and even car allowance. An article by the standard showed that presidents in Kenya have an allowance to replace their vehicles every three years. Perhaps they weren’t wrong. A study conducted by Data […]

Sep 07, 2017

 
 

Kenyan Presidents have very generous packages when it comes to remuneration that include and are not limited to Fuel, Housing, travel, entertainment and even car allowance. An article by the standard showed that presidents in Kenya have an allowance to replace their vehicles every three years. Perhaps they weren’t wrong.

A study conducted by Data Fintech shows that depreciation hits cars with an engine capacity of 2501cc and above hardest after 4 years. The study highlighted the depreciation of cars in age. As of July 2017, a new car aged between 0-2 years was priced at Ksh 7.54 Million, with an average of 58 new cars in the market place per month.  When a car above 2501 cc is above 5 years old, it’s value drops by about Ksh 3 Million, retailing at Ksh 4.44 Million. For new car owners whose cars are about 2501 cc that wish to sell their cars, it is best to sell your cars when it is 3-4 years old as depreciation hits severely afterwards.

The study has been realized by Data Fintech, a Kenyan consumer data broker, based on data collected on various online classified platforms in Kenya

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