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French company, Toyota rev automotive market in Kenya with much in common imports.
Bolloré Group based in Paris, has signed a joint venture agreement which will see two more Japanese companies tap into the car import business over Kenya.
The French company, which initially launched its operations in Kenya as SDV Transami, through its Kenyan subsidiary of Bolloré Logistics Transportation, in partnership with the trading company Toyota Tsusho Corporation and international shipping company NYK Line to establish the logistics company Bolloré NYK Logistics Limited Auto vehicles.
The logistics company will provide services that include ground transportation, storage of cars and customs clearance at the port of Mombasa, which also serves as gateway to other countries in the region.
The company will also offer pre-delivery services such as final inspections, repairs and implementation of parts prior to delivery to a car dealership.
Kenya is a country that is experiencing strong economic growth should see a rise in imports of finished cars and become a gateway port for the East African country.
At the port of Mombasa, the new company will offer a variety of services such as internal transport, and pre-delivery inspection and storage of cars and customs clearance within this year, NYK Line in a statement on their website.
The strategic partnership will seek to operate the transmission in place and storage business which currently enjoys Bolloré in the country and the experience of Toyota Tsusho network.
This partnership three strategic paths merge the knowledge and expertise acquired by Bolloré and Toyota Tsusho in a range of business developments, as well as experience and technology in the logistics of vehicles acquired by NYK worldwide, said Toyota Tsusho.
The entrance of Bolloré NYK Logistics Limited Auto comes at a time when the vehicle market for imported cars and locally assembled decreased by 22 4 percent in the nine months to September.
The increase in excise taxes on imported cars last year led to the crisis.
Total vehicle sales in the period amounted to 60.391 units compared to 77,902 the previous year, according to data from the Kenya National Bureau of Statistics.
Toyota Tsusho, a general trading company, is a member of the Toyota Group.
NYK Auto Limited is a global player with extensive experience in logistics solutions over cars, Bolloré is a company headquartered in France, while Toyota Tsusho is a Japanese conglomerate with cutting companies in various sectors.
The joint venture also follows the signing of an agreement between Toyota Tsusho and Bolloré South Africa in January that the two companies are moving to work in the creation of collaborations in Africa and in neighboring areas who move to strengthen their presence the continent.
French company Toyota rev automotive market in Kenya imports agreement Business Daily, French, company, Toyota.