Wealthy Kenyans cut Porsche, Range Rover orders

A 2019 Porsche Cayenne Turbo. Porsche sales dropped this year, according to KMI. PHOTO | COURTESY

What you need to know:

  • The KRA has set out to raise more revenues from individuals whose lifestyles suggest they have higher incomes than what their tax payments indicate.
  • There have also been stockouts of several luxury car models following global manufacturers’ production decisions and changes in the ownership of local franchises.
  • Porsches and Bentleys, for instance, were out of stock for four months until May in what the local dealerships attributed to delays in sourcing the 2019 models.

Wealthy Kenyans have cut orders for luxury cars like Porsche, Range Rover and Jaguar by 43 percent in the nine months to September, and this has led to a sharp decline in the unit sales of new vehicles generally.

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