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A Look at South Africa’s Automobile Market
South Africa stands out as one of Africa’s most significant markets for new vehicle sales, with annual figures exceeding half a million cars. As the continent’s largest economy, the nation’s robust auto financing sector plays a critical role in this vibrant market. Currently, more than 99% of these vehicles are powered by internal combustion engines (ICE). In contrast, most African nations struggle with low new vehicle sales primarily due to limited access to affordable long-term financing options. This predicament leads to over 90% of new vehicle registrations across many African regions being for used cars. Due to lower average incomes and an absence of financial solutions, consumers often purchase aging imported vehicles and typically pay upfront or through short-term loans from local banks.
The Future of Vehicle Leasing in Africa
Additionally, unlike Europe and other global regions where car leasing is prevalent, only a few government or corporate fleet-focused schemes exist within numerous African nations today. However, MojaEV—the leading distributor of electric vehicles in Kenya—aims to transform this scenario by integrating leasing into their services for customers seeking brand-new vehicles in Kenya. By collaborating with well-known EV manufacturers like Neta and Skyworth, MojaEV is dedicated to advancing transportation sustainability across East Africa while striving to lower carbon emissions through state-of-the-art zero-emission vehicle offerings.
MojaEV’s Growth Initiatives
Recently launched by MojaEV were 100 NETA V electric taxis tailored specifically for Nairobi’s cab market, with plans in place for an additional 500 units slated for deployment by mid-year.
Specifications Highlight: NETA V Electric Car
- Electric Motor Type: Permanent Magnet Synchronous
- Battery Type: Lithium Iron Phosphate (LFP)
- Total Power Output: 70 kW / 95 PS
- Torque: 150 Nm
- Batter Capacity: 40.7 kWh
- An impressive up to 401 km (CLTC)
- A practical range up to 384 km (NEDC)
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< li > AC Home Charging: Approximately ~8 hours li >
< li > DC Fast Charging: From about30–80% in ~30 minutes li >
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