London-based automotive distributor and retailer Inchcape PLC will take over the Jaguar land Rover dealership after the buyout from RMA Group which has exited the Kenyan market.
Inchcape will now be the sole official importer and distributor of Jaguar and Land Rover (JLR) vehicles in Kenya. Kenya will become Inchcape’s second market in Africa after Ethiopia where it currently deals in several brands including Toyota and Hino according to Business Daily.
Thailand-based RMA has been operating in Kenya over the last five years after taking over the JLR franchise from CMC Holdings in 2013 which had held the dealership for the longest time.
RMA sold 92 units of cars, a figure topping other premium car dealers. The numbers represent 38.3 percent of all 240 units sold in the luxury segment according to Kenya Motor Industry Association (KMI). The sale of high-end cars in 2017 fell by 15.7 percent last year, and BMW remained the only luxury brand to register positive demands. This shows how the market for high-end vehicles is dropping.
Inchcape operates in 31 countries across Asia, Australia, Europe, Africa and South America and is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
