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Inchcape Plc, a London-based luxury car dealer, is preparing to buy the Jaguar Land Rover (JLR) dealership in Kenya after acquiring the RMA Group's factory, which
JLR and Inchcape have entered into the concession agreement in recent weeks, with an official announcement expected to be made soon, sources close to the case said. Regional leaders of JLR refused to comment on the case.
"JLR is not in a position to comment for the moment.At the appropriate time, JLR will make an official announcement of its new partner," said Nigel Clarke, Commercial Director of Sub-Saharan Africa JLR, during a telephone interview.
RMA leaves the Kenyan market after five years, after taking over the JLR franchise of CMC Holdings in 2013.
Inchcape, which already sells JLR brands in the United Kingdom, will inherit the most valuable portfolio and sells it. one of the best selling luxury cars in Kenya, including the Ranger Rover and Jaguar models.
The British multinational sells several brands of vehicles, including Mercedes Benz, Toyota, Audi and BMW in 31 countries.
Kenya will become the second largest Inchcape market in Africa after Ethiopia where it currently sells several brands including Toyota and Hino.
The conglomerate, which belongs to institutional investors such as Standard Life, BlackRock, Vanguard and Aberdeen Asset Investments Ltd, achieved a turnover of 8.9 billion pounds sterling (1 100 billion shillings) in December 2017.
In Kenya, new luxury cars rose nearly 5% in the first quarter, thanks to the increase in demand for Porsche models
