South Africa’s Motus Holdings has bought out local Nissan dealership from Kenyan businessman Mohamed Zubedi after a 49 percent stake sale.
In 2014, the Kenyan business mogul who owns a car dealership in Dubai and a tyre distribution and logistics business in Kenya, won the rights to sell Nissan vehicle in Kenya, and through his investment vehicle Hakma, sought Motus Holdings, which previously traded as AMH Group as a partner to set up Crown motors.
Initially, the Nissan franchise was run by DT Dobie but after Toyota acquired Nissan and CICA Most in 2012 as part of a Sh274.4 billion Pan-African deal involving their parent firm CFAO, DT Dobie lost the franchise.
According to data from the Kenya Motor Industry Association (KMI), the sale of Nissan vehicles by Crown Motors stood at 381 units last year, representing a 3.4 per share of all new vehicles sold in the East African country. In a bid to grow sales and establish a wider network, Crown motors has begun expanding its distribution network in the country.
Nissan is one of the biggest brands in the local pick-up segment in the country, competing against Toyota and Isuzu. Currently, the Japanese multinational automobile manufacturer has parts and service centers in Nairobi, Eldoret, Kisumu, Mombasa and Nakuru.