• Home
  • News
  • Business
  • Entertainment
  • Lifestyle
  • Politics
  • Sports
  • Tech
  • World
Tuesday, May 17, 2022
Kenyan Bulletin
No Result
View All Result
  • Home
  • News

    Gachagua named Deputy President

    Azimio manager nursing injuries in fight over a bootylicious attendant 

    Kibunja takes over as DCI director personnel

    Fight over 2GB memory card leads to death of a minor

    How Ruto plans to transform Agriculture when he takes over presidency

    Mask selling syndicate unearthed at SGR Nairobi Terminus

    2 Police officers facing robbery with violence charges

    Bishop Gakuyo fingered for interfering with Jubilee Party nominations in Thika

    Man on the run after attempted murder

  • Business
    KenGen adds 400 megawatts geothermal power

    KenGen adds 400 megawatts geothermal power

    Why DP Ruto’s bottom up economic model will fix Uhuru’s mess

    Why DP Ruto’s bottom up economic model will fix Uhuru’s mess

    Kenyan based jobtech Ajiry gets a continental shortlisting

    Kenyan based jobtech Ajiry gets a continental shortlisting

    KenGen drills the 7th Well in Ethiopia

    KenGen drills the 7th Well in Ethiopia

    Here’s how Metropolitan National Sacco makes it easy for you to save; get a loan

    Racist Chandarana Store on the spot again

    Racist Chandarana Store on the spot again

    Centum Real Estate says Mzizi Project Over Booked

    Centum Real Estate says Mzizi Project Over Booked

    KenGen completes repairs at Olkaria II Geothermal Plant

    KenGen completes repairs at Olkaria II Geothermal Plant

    Opinion: My Journey with Centum Investments CEO Dr. James Mworia

    Opinion: My Journey with Centum Investments CEO Dr. James Mworia

  • Entertainment

    DCI having a great moment at Bishop Luigi Locati children’s home

    Tragic Road Accident Claims Lives of Two Upcoming Instagram Influencers

    Professor Jay’s health continues to deteriorate: This is how he landed in ICU

    VIDEO: David Murathe’s son takes over Eric Omondi’s ex-girlfirend Chantal Grazioli

    Raunchy socialite seeking endorsement by ODM for Nairobi Women Rep seat 

    KoT exposes Rose Muhando’s Sexcape in Kenya

    KoT exposes Rose Muhando’s Sexcape in Kenya

    Miracle Baby: Mwalimu Rachel took everything from Sailors

    Viral Video of a couple having a quickie on the Roadside

    Viral Video of a couple having a quickie on the Roadside

    KOT reacts after a man’s dead Uncle started weeping

    KOT reacts after a man’s dead Uncle started weeping

  • Lifestyle
    Zainab: My horrible experience in Zanzibar as a young solo female traveler

    Zainab: My horrible experience in Zanzibar as a young solo female traveler

    DCI having a great moment at Bishop Luigi Locati children’s home

    Foreigner caught sodomizing an iPad thief

    Foreigner caught sodomizing an iPad thief

    Why saving money for children early is important

    Energy Champion KenGen plants 7000 indigenous trees

    Energy Champion KenGen plants 7000 indigenous trees

    KoT exposes Rose Muhando’s Sexcape in Kenya

    KoT exposes Rose Muhando’s Sexcape in Kenya

    3 most evil Kenyan women leading corporates

    3 most evil Kenyan women leading corporates

    Video: How bouncers undressed a man over 55K bill

    Video: How bouncers undressed a man over 55K bill

    Photos: Burglars raid Muthaiga Homes

    Photos: Burglars raid Muthaiga Homes

  • Politics

    Why DP Ruto’s youth centric economy is selling

    How Ruto plans to transform Agriculture when he takes over presidency

    Raila is too old and idealess to be president

    Raila is too old and idealess to be president

    Bishop Gakuyo fingered for interfering with Jubilee Party nominations in Thika

    Uproar In Wa Iria’s Usawa Party Over Irregular Ticket Issuance

    Voters petition ODM to nullify all certificates awarded to Alego Usonga MCA nominations winners

    Why DP Ruto’s bottom up economic model will fix Uhuru’s mess

    Why DP Ruto’s bottom up economic model will fix Uhuru’s mess

    The flashy swankpot  old man supporting Raila to safeguard questionable Wealth

    The flashy swankpot old man supporting Raila to safeguard questionable Wealth

    Why Ruto lashed at government’s artificial fuel crisis

    Why Ruto lashed at government’s artificial fuel crisis

  • Sports

    Sponsors forces a Russian billionaire to sell his EPL club

    Titus Maero: Depressed NMG journalist commits suicide  

    Manchester United youngster Mason Greenwood arrested over rape and assault allegations

    Video: Musalia Mudavadi mourns

    Video: Musalia Mudavadi mourns

    Harambee Stars no. 1 fan hacked to Death

    Harambee Stars no. 1 fan hacked to Death

    Kimanzi exits cash-strapped Wazito

    Formula 1 maestro Lewis Hamilton receives knighthood

    Formula 1 maestro Lewis Hamilton receives knighthood

    WATCH: Harambee Stars goalkeeper Brian Bwire accused of match-fixing Uganda game

    WATCH: Harambee Stars goalkeeper Brian Bwire accused of match-fixing Uganda game

    Heavy contingent of policemen arrives at FKF’s Kandanda House

    Heavy contingent of policemen arrives at FKF’s Kandanda House

  • Tech
    How Centum Has Helped Bridge The Youth Unemployment Gap

    How Centum Has Helped Bridge The Youth Unemployment Gap

    BlackBerry to terminate service on old devices at midnight

    BlackBerry to terminate service on old devices at midnight

    KenGen to inject more Megawatts into National Grid

    Metaverse will revolutionize your ability to be a jerk

    Metaverse will revolutionize your ability to be a jerk

    Facebook’s App name will not be Changed

    Facebook’s App name will not be Changed

    Top Euro2020 bonuses for Bangbet punters as Kariakor driver wins Sh100k

    Kenyan Social Media giant Gscroll hits a Milestone

    Kenyan Social Media giant Gscroll hits a Milestone

    How to setup Rafiki by Securex Home Security System

    How to setup Rafiki by Securex Home Security System

    New Cybersecurity Attacks Target Africa and Middle East Diplomatic Missions

    New Cybersecurity Attacks Target Africa and Middle East Diplomatic Missions

  • World

    Fact Check: Truth about China’s “artificial sun”

    Former Silicon Valley Star Elizabeth Holmes Found Guilty In Theranos Fraud Trial

    Former Silicon Valley Star Elizabeth Holmes Found Guilty In Theranos Fraud Trial

    Prime Minister Hamdok resigns

    Prime Minister Hamdok resigns

    Reactions as Archbishop Desmond Tutu bows

    Reactions as Archbishop Desmond Tutu bows

    Heart breaking Photos as Rai Kills 208 People

    Heart breaking Photos as Rai Kills 208 People

    4 Lecturers in trouble after a leaked Sextape

    4 Lecturers in trouble after a leaked Sextape

    Bomb kills a Pregnant Journalist in the Coast

    Bomb kills a Pregnant Journalist in the Coast

    Malala marries the Nobel Price Winner

    Malala marries the Nobel Price Winner

    8 Prophets drown to death during Baptism

    8 Prophets drown to death during Baptism

  • Home
  • News

    Gachagua named Deputy President

    Azimio manager nursing injuries in fight over a bootylicious attendant 

    Kibunja takes over as DCI director personnel

    Fight over 2GB memory card leads to death of a minor

    How Ruto plans to transform Agriculture when he takes over presidency

    Mask selling syndicate unearthed at SGR Nairobi Terminus

    2 Police officers facing robbery with violence charges

    Bishop Gakuyo fingered for interfering with Jubilee Party nominations in Thika

    Man on the run after attempted murder

  • Business
    KenGen adds 400 megawatts geothermal power

    KenGen adds 400 megawatts geothermal power

    Why DP Ruto’s bottom up economic model will fix Uhuru’s mess

    Why DP Ruto’s bottom up economic model will fix Uhuru’s mess

    Kenyan based jobtech Ajiry gets a continental shortlisting

    Kenyan based jobtech Ajiry gets a continental shortlisting

    KenGen drills the 7th Well in Ethiopia

    KenGen drills the 7th Well in Ethiopia

    Here’s how Metropolitan National Sacco makes it easy for you to save; get a loan

    Racist Chandarana Store on the spot again

    Racist Chandarana Store on the spot again

    Centum Real Estate says Mzizi Project Over Booked

    Centum Real Estate says Mzizi Project Over Booked

    KenGen completes repairs at Olkaria II Geothermal Plant

    KenGen completes repairs at Olkaria II Geothermal Plant

    Opinion: My Journey with Centum Investments CEO Dr. James Mworia

    Opinion: My Journey with Centum Investments CEO Dr. James Mworia

  • Entertainment

    DCI having a great moment at Bishop Luigi Locati children’s home

    Tragic Road Accident Claims Lives of Two Upcoming Instagram Influencers

    Professor Jay’s health continues to deteriorate: This is how he landed in ICU

    VIDEO: David Murathe’s son takes over Eric Omondi’s ex-girlfirend Chantal Grazioli

    Raunchy socialite seeking endorsement by ODM for Nairobi Women Rep seat 

    KoT exposes Rose Muhando’s Sexcape in Kenya

    KoT exposes Rose Muhando’s Sexcape in Kenya

    Miracle Baby: Mwalimu Rachel took everything from Sailors

    Viral Video of a couple having a quickie on the Roadside

    Viral Video of a couple having a quickie on the Roadside

    KOT reacts after a man’s dead Uncle started weeping

    KOT reacts after a man’s dead Uncle started weeping

  • Lifestyle
    Zainab: My horrible experience in Zanzibar as a young solo female traveler

    Zainab: My horrible experience in Zanzibar as a young solo female traveler

    DCI having a great moment at Bishop Luigi Locati children’s home

    Foreigner caught sodomizing an iPad thief

    Foreigner caught sodomizing an iPad thief

    Why saving money for children early is important

    Energy Champion KenGen plants 7000 indigenous trees

    Energy Champion KenGen plants 7000 indigenous trees

    KoT exposes Rose Muhando’s Sexcape in Kenya

    KoT exposes Rose Muhando’s Sexcape in Kenya

    3 most evil Kenyan women leading corporates

    3 most evil Kenyan women leading corporates

    Video: How bouncers undressed a man over 55K bill

    Video: How bouncers undressed a man over 55K bill

    Photos: Burglars raid Muthaiga Homes

    Photos: Burglars raid Muthaiga Homes

  • Politics

    Why DP Ruto’s youth centric economy is selling

    How Ruto plans to transform Agriculture when he takes over presidency

    Raila is too old and idealess to be president

    Raila is too old and idealess to be president

    Bishop Gakuyo fingered for interfering with Jubilee Party nominations in Thika

    Uproar In Wa Iria’s Usawa Party Over Irregular Ticket Issuance

    Voters petition ODM to nullify all certificates awarded to Alego Usonga MCA nominations winners

    Why DP Ruto’s bottom up economic model will fix Uhuru’s mess

    Why DP Ruto’s bottom up economic model will fix Uhuru’s mess

    The flashy swankpot  old man supporting Raila to safeguard questionable Wealth

    The flashy swankpot old man supporting Raila to safeguard questionable Wealth

    Why Ruto lashed at government’s artificial fuel crisis

    Why Ruto lashed at government’s artificial fuel crisis

  • Sports

    Sponsors forces a Russian billionaire to sell his EPL club

    Titus Maero: Depressed NMG journalist commits suicide  

    Manchester United youngster Mason Greenwood arrested over rape and assault allegations

    Video: Musalia Mudavadi mourns

    Video: Musalia Mudavadi mourns

    Harambee Stars no. 1 fan hacked to Death

    Harambee Stars no. 1 fan hacked to Death

    Kimanzi exits cash-strapped Wazito

    Formula 1 maestro Lewis Hamilton receives knighthood

    Formula 1 maestro Lewis Hamilton receives knighthood

    WATCH: Harambee Stars goalkeeper Brian Bwire accused of match-fixing Uganda game

    WATCH: Harambee Stars goalkeeper Brian Bwire accused of match-fixing Uganda game

    Heavy contingent of policemen arrives at FKF’s Kandanda House

    Heavy contingent of policemen arrives at FKF’s Kandanda House

  • Tech
    How Centum Has Helped Bridge The Youth Unemployment Gap

    How Centum Has Helped Bridge The Youth Unemployment Gap

    BlackBerry to terminate service on old devices at midnight

    BlackBerry to terminate service on old devices at midnight

    KenGen to inject more Megawatts into National Grid

    Metaverse will revolutionize your ability to be a jerk

    Metaverse will revolutionize your ability to be a jerk

    Facebook’s App name will not be Changed

    Facebook’s App name will not be Changed

    Top Euro2020 bonuses for Bangbet punters as Kariakor driver wins Sh100k

    Kenyan Social Media giant Gscroll hits a Milestone

    Kenyan Social Media giant Gscroll hits a Milestone

    How to setup Rafiki by Securex Home Security System

    How to setup Rafiki by Securex Home Security System

    New Cybersecurity Attacks Target Africa and Middle East Diplomatic Missions

    New Cybersecurity Attacks Target Africa and Middle East Diplomatic Missions

  • World

    Fact Check: Truth about China’s “artificial sun”

    Former Silicon Valley Star Elizabeth Holmes Found Guilty In Theranos Fraud Trial

    Former Silicon Valley Star Elizabeth Holmes Found Guilty In Theranos Fraud Trial

    Prime Minister Hamdok resigns

    Prime Minister Hamdok resigns

    Reactions as Archbishop Desmond Tutu bows

    Reactions as Archbishop Desmond Tutu bows

    Heart breaking Photos as Rai Kills 208 People

    Heart breaking Photos as Rai Kills 208 People

    4 Lecturers in trouble after a leaked Sextape

    4 Lecturers in trouble after a leaked Sextape

    Bomb kills a Pregnant Journalist in the Coast

    Bomb kills a Pregnant Journalist in the Coast

    Malala marries the Nobel Price Winner

    Malala marries the Nobel Price Winner

    8 Prophets drown to death during Baptism

    8 Prophets drown to death during Baptism

No Result
View All Result
Kenyan Bulletin
No Result
View All Result
Home Business

Broke? Speak for yourself as wealthy Kenyans snap up luxury cars, bikes

Kenyan Bulletin by Kenyan Bulletin
June 15, 2021
in Business
Reading Time: 4 mins read
0
Share on FacebookShare on TwitterWhatsapp

[ad_1]

Luxury motorcycles.

“People have money!” Kenyans casually exclaim whenever affluence is spotted. For some, like, Hussein Ibrahim, Inchcape Kenya managing director, this is a daily observation.

Inchcape runs the local dealership for a string of luxury automotive brands, including Jaguar Land Rover and BMW.

Ibrahim’s current headache is a supply hitch of the new 2020 Land Rover Defender 110 due to a global shortage of computer chips.

He told Financial Standard that since the new Defender’s introduction to the country last year at the height of the pandemic its sales have overtaken those of the other luxury cars in the Range Rover family.

“We could have sold more, but we are facing supply challenges. There’s a microchip production problem. We’ve had quite a number of orders that have been back-ordered because of production constraints,” he explained.

Last year’s data from the Kenya Motor Industry (KMI) shows that Inchcape sold 66 units in the luxury vehicles segment.

These included 36 vehicles from the Range Rover stable, 24 BMWs and six Jaguars. The affluent seemed to defy the ill effects of the coronavirus pandemic that has depressed economies and compromised many people’s spending power.

According to KMI data, 11,086 new vehicles were sold in the year, including 238 Volkswagens, 180 Mercedes Benzes, 25 Porsches and two Bentleys.

Isuzu, known for its trucks and pickups, topped in overall vehicle sales, moving 4,340 units followed by Toyota, which sold 2,426 units.

Recently, Jaguar Land Rover (JLR), Britain’s biggest carmaker, temporarily shut two of its main factories owing to the shortage described as “chipageddon.” The pandemic has raised the demand for semiconductor chips used in electronics, such as computers.

New cars contain scores of microprocessors, and the shortage also affected many other firms, including phone companies.

Ibrahim reckons that by January this year, they were supposed to have the diesel Land Rovers Defenders but only started receiving them last month.

At the peak of the Covid 19 pandemic last year, Inchcape introduced a fresh Land Rover line, which includes the elegant Range Rover family and the Discovery SUVs.   

The high-spec edition of the 2020 Land Rover Defender sells at about Sh21.6 million, while the base model goes for about Sh14 million.

Ibrahim explained that the appeal and hype made it a top seller. The iconic Defender, which has a 70-year-0ld history and best known for the 90 and 110 series, had stopped production in 2015. The new model is marketed as “the strongest and most capable vehicle ever created.” It’s more modern and exceptional for a hardcore SUV.

“There was a lot of hype globally… people come in and already know everything about it,” said Ibrahim.

Cult following

“The value proposition is also very good, keeping above the rest of the vehicles in this range which is limited. One guy who had seen it on YouTube by a car blogger came to confirm whether the local one has a certain feature and immediately bought it,” he added.

The vehicle is an offroad juggernaut reputed globally for its ruggedness and versatility and has over the years gained a cult following.

 “The new shape defender was very polarising because many of the hardcore followers called it a ‘slay queen,’ which couldn’t venture off-roading,” said Ibrahim.

Inchcape ran a road testing programme of the vehicle for the doubting Thomases, which he said played a key part in its success.

“We sold so many cars because of this… people were converted because of driving. Its specs show it’s three times stronger than the older one in terms of the integrity of the body, suspension, power, better towing capability and comfort,” he said.

But who are these affluent customers for the high-end vehicles? 

Ibrahim observed that it’s a cocktail of captains of industry, celebrities and generally high net-worth individuals.

Kenya has a rising class of dollar millionaires drawn from jobs such as technology and financial services.

It is also among Africa’s largest luxury markets.  The number of Ultra-high-net-worth individuals (UHNWIs) – wealth exceeding $1 million – stood at 3,323 in 2020, falling 22 per cent owing to pandemic shocks. Billionaires or UHNWIs whose liquid assets exceed $30 million (Sh3.2 billion) stood at 90.

Ibrahim explained that politicians, for example, are not so much into German brand BMW but other brands such as the Land Rover.

These sophisticated and well exposed HNWIs also pick vehicles for their children when shopping for their own “toys.”

“You find someone has bought themselves a Range Rover Vogue and comes and buys for their son or daughter the smaller cars like the BMW X1 or BMWX3,” he said.

Others just want a classy car that enables them to swagger into business meetings and strike deals.

“Some of them are top salespeople who are looking for an image,” explained Ibrahim.

“They just want to be seen in a BMW so that when they go to sell something or clinch a deal, they look ‘serious’,” he said.

Inchcape also leases vehicles in all the luxury brands.

The company recently entered the motorcycle market seeking to tap into a growing community of bikers in the country. It unveiled the high-end BMW Motorrad (motorcycles) at its Sh160 million BMW showroom at the One Africa Place Building in Nairobi’s Westlands. Prices range between Sh900,000 and Sh4 million.

[email protected] 

 

 

[ad_2]

Source link

READ ALSO

KenGen adds 400 megawatts geothermal power

Why DP Ruto’s bottom up economic model will fix Uhuru’s mess

Join our Telegram channel for breaking news, entertainment news and so much more.

Comments

comments

Share this:

  • Twitter
  • Facebook
ShareTweetSend

Related Posts

KenGen adds 400 megawatts geothermal power
Business

KenGen adds 400 megawatts geothermal power

May 6, 2022
Why DP Ruto’s bottom up economic model will fix Uhuru’s mess
Business

Why DP Ruto’s bottom up economic model will fix Uhuru’s mess

May 3, 2022
Kenyan based jobtech Ajiry gets a continental shortlisting
Business

Kenyan based jobtech Ajiry gets a continental shortlisting

May 2, 2022
KenGen drills the 7th Well in Ethiopia
Business

KenGen drills the 7th Well in Ethiopia

April 26, 2022
Business

Here’s how Metropolitan National Sacco makes it easy for you to save; get a loan

April 22, 2022
Racist Chandarana Store on the spot again
Business

Racist Chandarana Store on the spot again

April 18, 2022
Next Post
Do you know your body type? Eve woman

Do you know your body type? Eve woman

Popular Articles

  • Expose: Martha Karua Pocketed BAT’s £50,000 Bribe To Promote Cigarette Smuggling

    0 shares
    Share 0 Tweet 0
  • Video: Patrick Ayoyi Records Himself Defiling Minor

    865 shares
    Share 865 Tweet 0
  • Martha Karua pocketed BAT’s £50,000 bribe to promote cigarette smuggling

    0 shares
    Share 0 Tweet 0
  • How to sign-up to Metropolitan National Sacco, get a quick loan

    0 shares
    Share 0 Tweet 0
  • Renegade Raila uses Kibaki funeral to conceal flopped trip

    0 shares
    Share 0 Tweet 0
  • Trending
  • Comments
  • Latest

Expose: Martha Karua Pocketed BAT’s £50,000 Bribe To Promote Cigarette Smuggling

May 17, 2022

Video: Patrick Ayoyi Records Himself Defiling Minor

February 17, 2020

Why Is The Chinese SGR Slow As The Old Colonial Train Line?

November 3, 2020
DP Ruto’s righthand man floored in Baringo UDA Primaries

DP Ruto’s righthand man floored in Baringo UDA Primaries

April 19, 2022
Martha Karua pocketed BAT’s £50,000 bribe to promote cigarette smuggling

Martha Karua pocketed BAT’s £50,000 bribe to promote cigarette smuggling

May 17, 2022

Expose: Martha Karua Pocketed BAT’s £50,000 Bribe To Promote Cigarette Smuggling

May 17, 2022

Gachagua named Deputy President

May 15, 2022

Azimio manager nursing injuries in fight over a bootylicious attendant 

May 15, 2022
  • Home
  • News
  • Business
  • Entertainment
  • Lifestyle
  • Politics
  • Sports
  • Tech
  • World

© 2019 Kenyan Bulletin

No Result
View All Result
  • Homepages
    • Home Page 1
    • Home Page 2
  • News
  • Politics
  • Business
  • World
  • Entertainment
  • Lifestyle
  • Sports
  • Tech

© 2019 Kenyan Bulletin