Isuzu East Africa raised its market share to a new record of 44.7 percent in the year ended December 2022 after growing sales amid an overall slump in the new vehicle industry.
Data from the Kenya Motor Vehicle Industry Association (KMI) shows that Isuzu sold 5,968 units in the review period, representing a five percent increase from 5,609 units the year before when the company’s market share stood at 39.4 percent.
Total unit sales in the formal vehicle sector meanwhile shrunk 6.3 percent to 13,352 from 14,250.
Isuzu benefited from increased demand for its commercial vehicles including its top-selling truck –FRR 90N. Sales of this model rose to 1,684 from 1,443, entrenching its position as the single most popular new vehicle in the market.
In an earlier interview, Isuzu said small and medium enterprises are the biggest buyers of its trucks.
The company’s buses are meanwhile sold mainly to public service transport operators, with some volumes going to schools.
The company, like its rivals CFAO Motors (Toyota Kenya) and Simba Corp, also benefits from government leasing contracts.
Simba Corp and CFAO Motors were among the dealers that recorded lower sales in the review period.
Sales of the Toyota dealer –including Hino trucks— fell 17.7 percent to 3,084 from 3,748. This resulted in its market share declining to 23.1 percent from 26.3 percent.
