CFAO Motors Kenya’s sales of its prime mover, SINOTRUCK, have propelled the auto dealer to register a 59 percent market share in the country.
According to the latest market share report by the Kenya Motor Industry (KMI) for 2023, CFAO Motors Kenya has maintained its dominance in the general segment, reporting a 59 percent share.
Additionally, stable sales from the company’s flagship Toyota brand, which accounts for a 53 percent contribution to the overall market share, have seen CFAO dominate Kenya’s vehicle market in the year under review.
However, the company’s growth story also extends beyond traditional market segments, with increased contributions from non-traditional categories such as passenger vans.
Overall, CFAO Motors Kenya experienced a 32 percent growth in total sales compared to 2022, with a total of 3,639 vehicle units sold across its diverse portfolio.
This growth trajectory underscores the effectiveness of CFAO’s rebranding, the launch of the local assembly line, as well as a consolidation strategy.
Speaking on the company’s performance, Mr. Arvinder Reel, Managing Director of CFAO Motors Kenya, highlighted the transformative impact of strategic mergers and local assembly investments.
The merger of Toyota Kenya and DT-Dobie last year has not only bolstered the company’s local assembly capacity but also enabled the delivery of a broader range of vehicles to a growing and diversified client base.
Strategic investments in local assembly lines, including a Kes300 million allocation, have played a pivotal role in accelerating growth. Notably, the addition of the SINOTRUK brand to CFAO Motors Kenya’s portfolio in the Truck and Bus category has sparked further growth opportunities, particularly in the construction sector.
SINOTRUK has quickly established itself as the leading prime mover brand, capturing a remarkable 48 percent market share.
Overall, in the truck and bus category, rival Isuzu continues to enjoy a 66 percent market share, followed by Simba Corp at 15 percent, while CFAO comes in third at 9 percent, with SINOTRUK contributing 4 percent of the share.
Looking ahead, CFAO Motors Kenya says it is committed to expanding its market share and exploring new mobility horizons, including hybrid vehicles.
Despite challenges in the automotive market, including a decline in the Pick-Up segment due to economic factors such as a weakening shilling and increased interest rates, CFAO Motors Kenya remains optimistic about future growth prospects.
The locally assembled Toyota Hiace Van and Passenger Vans continue to experience strong demand, particularly in the public transport sector, reaffirming the company’s commitment to value for money and safety standards.
As the Government’s Leasing program resumes, CFAO Motors Kenya anticipates further opportunities for growth and expansion.
With a customer-centric approach and a focus on innovation, the company is poised to lead the way in shaping the future of mobility in Kenya.