What you need to know:
- The auto dealer said it has longstanding financing deals with lenders like Bank of Africa to help finance customers buying its brands.
- The company said it sold 35 units of Hyundai models under its dealership as at May 2022, compared to a total of 36 units sold last year.
Hyundai Motor has unveiled its upgraded top-selling Tucson sports utility vehicle in Kenya as it seeks to drive growth in the country as the economy reopens spurring demand.
Tucson, a compact SUV, is one of the South Korean automaker’s top selling vehicle in western Europe and is also one of its biggest sellers in China, the United States and South Korea, its top three markets.
The car which will retail at Sh4.9 million for the 4x2 model and Sh6.7 million for the 4x4 model will be sold in Kenya through Caetano, the local franchise holder of Hyundai.
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“We are confident that the all new Tucson will exceed our customers’ expectations as it is not just an evolution but a Hyundai design revolution," said Caetano managing director Pedro Campos in a statement.
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The auto dealer said it has longstanding financing deals with lenders like Bank of Africa to help finance customers buying its brands.
The revamped version of Hyundai's top-selling SUV features a longer, more voluminous body than its predecessor while boasting advanced safety features such as warnings on approaching objects from the rear when a car stops.
The company said it sold 35 units of Hyundai models under its dealership as at May 2022, compared to a total of 36 units sold last year signalling sales will surpass units sold last year on the back of demand as the economy reopens, it said.
Caetano Kenya which is the local franchise holder of Hyundai and Renault cars, sells Sedan, Crater, Tucson, Santa Fe, Palisade and the recently launched Kona Electric models from Hyundai. Under the Renault collection, the dealer stocks KWID, Triber, Duster, Kangoo and Koleos models.
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Kenya is a small market for new vehicles due to limited purchasing power, which leaves most consumers buying second hand imports from Japan.
But it has attracted investment from global automakers in recent years due to its growth potential.
Sales of new motor vehicles rose 11.7 per cent in the first quarter ended March, aided by the growing economy.
Data from the Kenya Motor Industry Association (KMI) shows that the formal dealers including Isuzu East Africa, Toyota Kenya and Simba Corporation sold 3,203 units in the review period, up from 2,867 units a year earlier.
The performance marks continued recovery in the industry, which suffered reduced sales in 2020 due to the impact of the Covid-19 pandemic, including restriction of movement, business disruption and reduced incomes for firms and households.
