Africa Automotive News September-October digital issue 2019

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News Renault trucks opens Assembly Plant in Thika The automotive industry in the country is characterised by dominance of second hand imported vehicles, automotive assembling oriented towards passenger and commercial vehicles Truck manufacturing firm, Renault trucks has opened a local assembly plant in Thika as it eyes the East African market. The plant set to create over 200 jobs was commissioned by Industrialization Principal Secretary (PS) Francis Owino in the presence of Renault Trucks President Bruno Blin, CMC Managing Director Collin Cordry and Thika MP Patrick Wainaina. Cordry said CMCs in collaboration with Renault would position the country in the automotive industry and promote the Government’s manufacturing agenda. This comes even as truck drivers and transporters expressed fears that the industry would become obsolete following an order to have port goods transported through the Standard Gauge Railway, which was later revoked by Infrastructure Cabinet Secretary James Macharia. However, the CMC Managing Director dismissed the fears saying the two would complement each other. He said advancement in modern transportation would benefit the Kenyan citizen, and that such claims were unfounded. “Truck operators will never lose business as a result of the rail transport. The railway line runs from Mombasa to Nairobi leaving several areas in need of truck services,” he affirms. Owino said such investments would help the Government in implementing the ‘Big 4’ Development Agenda on manufacturing ratio to GDP from the current 7.7% to 15% by 2022. The PS said the Government is in the process of coming up with a National Automotive Policy to give direction and impetus for the development of a vibrant automotive industry, and make the country an automotive manufacturing hub in the region. “The Policy would address among other issues strong partnerships between the Government and investors in the industry, technology transfer, market creation through leasing, local content development plan, market expansion through harmonization of motor vehicle standards within the East Africa Community (EAC) and capping of the age at 5 years from the current 8 years for used vehicles imported into the country,” he said. The automotive industry in the country is characterised by dominance of second hand imported vehicles, automotive assembling oriented towards passenger and commercial vehicles, lack of local full manufacture, and reliance on KD (Knocked Down) kits due to minimal local parts production,” he added. Owino called on vehicle assembly companies to collaborate with local manufacturing entities such as the Numerical Machining Complex (NMC) and SMEs for assembling materials. On his part, Wainaina said locals should get 40 per cent of the business generated from spare parts from Kenya Vehicle Manufacture (KVM). The MP said the company should target manufacturing and not assembling to create more jobs to locals. Renault Trucks has a presence in over 100 countries. 4 Africa Automotive News l 2019 September-October issue l 2019
NIC Bank, Toyotsu Auto Mart Kenya ink a financial deal for used vehicles News The partnership will guarantee Toyotsu customers up to 90% financing, 60 months repayment period and two months warranty for vehicles that meet the warranty criteria with an option to extend to one year at a small fee From left, Godfrey Kioi Managing Director Heritage Insurance, Alan Dodd, NIC Bank Executive Director, Yoichi Hashimoto Managing Director Toyotsu Automart Kenya Limited singing the financial partnership at the Toyotsu Automart Kenya Ltd Headquaters, Nairobi, Kenya NIC bank have signed a partnership with Toyotsu Auto Kenya Limited – one of the largest used Japanese cars dealer in Kenya – to finance and enable Kenyans to purchase second-hand vehicles from Japan. The partnership will guarantee Toyotsu customers up to 90% financing, 60 months repayment period and two months warranty for vehicles that meet the warranty criteria with an option to extend to one year at a small fee. Speaking at the signing ceremony of the financial deal, NIC Bank Executive Director Alan Dodd stated that majority of Kenyans depends on import of second-hand vehicles and therefore the partnership was timely and signed to help customers purchase quality second-hand vehicles at affordable prices through a secure and transparent agent. “Many people in this market depend on the second-hand vehicle market to own a car. With this Partnership, we seek to actualize the dreams of many Kenyans wishing to own a vehicle either for personal use or business activities at an affordable arrangement. In addition, this presents yet another opportunity for us to cement our position as the leading bank in asset finance in the country.” he stated. Dodd further added that the financing deal is open to both NIC Bank customers and noncustomers wishing to import vehicles and looking to be financed by the bank. On his part, Toyotsu Auto Mart Kenya Limited Managing Director, Mr. Yoichi Hashimoto From left, Godfrey Kioi Managing Director Heritage Insurance, Alan Dodd, NIC Bank Executive Director, Yoichi Hashimoto Managing Director Toyotsu Automart Kenya Limited during the financial partnership signing said that he was excited to be partnering with NIC bank and that the partnership will go a long way in easing the financial load on their customers. “Our partnership with NIC Bank is indeed another seal of approval for Toyotsu Auto Mart strength within this trade to meet the local market’s needs on used vehicles. Through this partnership, we can assure all our customers of efficiency and reliability in handling all the complex stages of purchasing a pre-owned vehicle through a transparent process and assured aftersales support” he stated. The Toyotsu partnership comes hot on the heels of NIC Group (Bank and Insurance) and Heritage Insurance agreement to offer their customers a first of its kind telematics motor policy that rewards good drivers. The strategic partnership between NIC bank through their subsidiary NIC Insurance Agents is poised to avail customers a raft of benefits including; Discounts on insurance premium, rewards for safe driving, simplified claims processing premium cashback for safe drivers hence reduced insurance cost based on feedback on the customers driving behavior through a Mobile App, Loyalty program with discounts at various outlets among others. On NIC, Toyotsu partnership, the vehicle purchase will be handled wholly by Toyotsu Auto Mart Kenya who have approximately 400 vehicles in stock at any given time and upon request facilitates importation on behalf of clients with special specifications. September-October issue l 2019 Africa Automotive News l 2019 5
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Africa Automotive News September-October digital issue 2019

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