Number of newly registered vehicles in Kenya declines - report

The report notes that despite the transport sector being a significant value generator, newly registered cars recorded a notable decline by 21.4 per cent to 93,646 in 2024.

Additionally, there was a 4.7 percent decrease in newly registered motor and autocycles and three-wheelers to 72,868 in 2024. 

The survey further notes that the number of assembled motor vehicles decreased by 14.6%, from 13,527 in 2023 to 11,555 in 2024.

The transport industry was a key contributor to the growth of Kenya's Gross Domestic Product (GDP) in 2024 by 4.7 percent, compared to a revised growth of 5.7 percent in 2023. 

The value of output of this sector increased by 6.4 percent from Ksh.3.2 billion in 2023 to Ksh.3.4 billion in 2024. 

"Road transport continued to generate the highest value in the transportation and storage sector at 75.1 percent in 2024 compared with 76.9 percent in 2023," the report read in part.

The transportation and storage sector contributed 4.4% economic growth alongside agriculture, forestry, and fishing growing 4.6% compared to 6.6% growth in 2023. 

Other sectors also had notable growth, including the Financial & Insurance Activities (7.6%) and Real Estate (5.3%).

The survey projects that Kenya’s economy will remain resilient and stable in 2025. 

"The projected growth is expected to be driven by a strong services sector, enhanced agricultural productivity supported by favourable weather and distribution of subsidized fertilizer and seeds by the Government," added the report.