Vivo Energy partners Rent Works East Africa in Hyundai Tucson deal
Peter Murungi, Vivo Energy Kenya, Managing Director, and Aurelien Glay, Caetano Kenya, Managing Director in the state-of-the-art 2025 Hyundai Tucson at the handover ceremony.
What you need to know:
- Caetano will manage maintenance of the vehicles as Stanbic Bank finances the deal.
- Hyundai considers the deal a strategy to maneuver Kenya’s complex automotive landscape.
Vivo Energy has partnered with Rent Works East Africa to acquire 69 state-of-the-art Hyundai Tucson, to be used by the company’s sales teams.
In the four-year deal, Caetano – the authorized Hyundai dealer in Kenya – will manage maintenance of the vehicles as Stanbic Bank finances the deal and Heritage Insurance will be the vehicles insurer.
Hyundai considers the deal a strategy to maneuver Kenya’s complex automotive landscape which has recorded a decline in new vehicle sales due to high taxes, inflation and the dominance of imported second-hand vehicles.
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“We are proud that despite the current market challenges, we have delivered a fleet that meets the high standards of a company as respected as Vivo Energy Kenya,” said Aurelien Glay, Caetano Kenya’s Managing Director.
Vivo Energy plans to use the vehicles to support its business activities in the country, said Vivo Energy Kenya Managing Director Peter Murungi.
“The partnership is composed of Rent Works East Africa, through whom we are acquiring the vehicles from for a period 48 months, Caetano Kenya who will manage the maintenance of each of these cars, Stanbic Bank, the financer of the transaction, and Heritage Insurance the vehicles insurer,” Mr Murungi said.
The 2025 Hyundai Tucson, is a new model vehicle by the company with an innovative design, advanced technology, and exceptional performance.