NAIROBI, Kenya, Jan 28 – Kenyans born between 1981-1996 or popularly known as ‘millennials’ lead in car ownership in Kenya, new data shows.
Data from the online automotive financing marketplace, Autochek Kenya shows that millennials bought 69 percent of vehicles followed by Generation X (born between 1965-80) 20 percent, Generation Z (1997-2012) 9 percent, and Baby boomers (1946-64) 3 percent in the period between January and December 2022.
“From our data, millennials are more receptive to vehicles with newer technological features like hybrid and electric cars in the market. This is due to their fuel efficiency capabilities coupled with advanced features in the vehicles.” Said Michelle Gatamah, Autochek Africa’s Global Head of Marketing.
The data also shows that a majority of them went for luxury brands such as Audi, BMW, and Mercedes Benz, among others. “This is closely tied to millennials having access to loans that empower them with a bigger financial muscle” continued Michelle.
Baby boomers buy less luxurious brands with no purchases recorded for BMW, Audi, and Chevrolet, among others.