That was in line with a July report from the Kenya Vehicle Manufacturers Association (KVMA) showing vehicle sales fell 30 percent in the first half. Kenya assembled 2,258 vehicles, down 31 percent compared with January to April 2015, the Kenya National Bureau of Statistics said. READ MORE New vehicle sales plunge 30 percent in first halfKavashe, who is also managing director of General Motors East Africa, said a real estate lull had also contributed. Other brands assembled in Kenya include Toyota, Nissan, Mitsubishi and Isuzu. Buyers of new vehicles generally rely on bank financing, and rates were as high as 24 percent during the period.

Source: Standard Digital August 11, 2016 11:26 UTC