Loxea upbeat about Kenya’s Vehicle Leasing Market in Quarter 4 of 2024

Nairobi, 11th September 2024: As the Kenyan vehicle leasing market continues to thrive amid a rapidly growing business landscape, Loxea is strategically positioning itself for further growth in the final quarter of 2024. Since its inception in 2009, Loxea has steadily evolved, becoming a key player in the industry.

The leasing market is expected to show substantial expansion in Q4, driven by increased demand from businesses seeking cost-effective fleet management solutions, alongside a demand for fleet management solutions from our customers. Driven by increasing cost of acquiring new vehicles, businesses, organizations and government are turning to leasing as a means of cutting down on capital expenditure.

Speaking to journalists at the company offices in Nairobi, Loxea Managing Director Jennifer Kinyoe projected that the sector will witness an upsurge as companies across industries prioritize flexible vehicle leasing models to streamline operations, reduce costs, and improve fleet efficiency.

“Kenya’s vehicle leasing market is maturing, and Loxea has positioned itself at the forefront of this evolution. We have grown exponentially since 2009 by delivering tailor- made leasing solutions that meet the demands of businesses in Kenya’s vibrant economic landscape, and we are determined to capitalize on the momentum”, Kinyoe added.

Loxea’s market leadership is evident in the breadth of its corporate clientele, which spans across different industries. The company has invested heavily in customer-centric innovations, ensuring flexible, scalable, and sustainable leasing solutions.

Ms. Kinyoe added, “As we enter Q4 2024, we are excited about the opportunities to diversify our offerings. The dynamic nature of the vehicle leasing segment allows us to explore new products that cater to evolving client needs. Our goal is to remain agile, responsive, and focused on enhancing the value we bring to our clients.”

With its solid foundation bolstered by CFAO Mobility’s pole position in the automotive market, Loxea remains committed to expanding its portfolio of leasing services while upholding its vision to be the preferred partner providing innovative and cost-effective mobility solutions that not only meet the needs of today but also anticipate the challenges and opportunities of tomorrow through dynamic and motivated people in a sustainable environment.

The company’s proactive approach to market trends ensures it remains a trusted partner for businesses looking to optimize their vehicle fleets in a competitive landscape.

As Loxea continues to invest in its growth strategy, it remains bullish about the long-term outlook for vehicle leasing in Kenya.