Sports Cars in Kenya

Sports Cars in Kenya
Sports Cars in Kenya
This is due to an increase in demand for cars and an influx of foreign investment into the region.
Volkswagen has already built a new assembly plant in Relizan (Algeria) and has started to produce vehicles of several of its brands / DPA / TASS
Major car manufacturers are looking to create a new automotive cluster in North Africa, despite rare industrial success stories in Africa. Volkswagen, Renault, Peugeot, Hyundai Motor, Toyota Motor have invested billions in Africa in recent years. Companies see growth prospects here that are no longer available in traditional markets. New car sales in the US, China and Europe are declining after a 10-year boom.
A new automotive cluster designed to meet regional demand could serve as a model for companies rethinking their global supply chains as trade barriers rise around the world, largely driven by the policies of US President Donald Trump.
There are now 59 million vehicles on the roads of the Middle East and Africa. By 2040, this figure will rise to 90 million, OPEC predicts.
Morocco already produces more cars than South Africa and is soon expected to produce more cars per year than Italy. The Kingdom has already become a major supplier of components for European car factories, including the high-tech Ford Motor plant in Valencia, Spain. The latter imports car seats, interiors, electrical wiring and other components from Morocco.
In four years at Aston Martin, Andy Palmer figured out what was wrong with the company and prepared it for an IPO
Investment by automakers in the region is also growing, in part because some governments are cutting car imports to attract manufacturing capacity to their countries. Last year, Algeria demanded that most of the new cars be produced domestically. This regulation convinced Volkswagen to build a new assembly plant in Relizan, Algeria, which began producing vehicles from several of its brands, including the small van Caddy, popular with traders, and the Polo compact. The Spanish company SEAT produces the Ibiza sedan and the Arona sports utility vehicle in Algeria, while the Czech Skoda produces the popular Octavia sedan at the Relizan plant.
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Local governments are keen to attract foreign investment to pay off Chinese infrastructure loans. African governments are creating a business-friendly environment: easing foreign exchange controls, creating free trade zones and providing financial incentives. In some countries, projects are being implemented to expand and build highways, railways, and deep-water ports. https://jiji.co.ke/cars/sports
But automakers are aware of the financial risks of doing business in the region. Mass youth unemployment in the Maghreb (northwest Africa) fuels emigration, crime and Islamist extremism. These problems can be solved, among other things, through the expansion of economic activity in the countries of the region. European countries also see stability and prosperity in North Africa as the key to their own security. ???Of course there are risks,??? says Erdem Kizildere, a top manager at SEAT and director of the company’s Algerian plant, which is expected to assemble 50,000 vehicles this year. ???But we see the potential of the region. This is a very young market that is becoming more and more industrialized, ???he adds.
According to Frost
???The situation on the continent is stabilizing,??? said Volkswagen spokesman Thomas Schaefer. In August, the company signed an agreement with Ghana and Nigeria to build assembly plants in those countries in exchange for government investment protection guarantees. ???The last barriers blocking the development of the regional auto industry are being removed. This is a huge opportunity for us, ???he said.

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