Kenyan auto mogul and business executive Arvinder Reel has steered CFAO Motors Kenya to regain its leadership in the new luxury car business, securing an impressive 54.5-percent market share despite a challenging industry environment marked by a 33.7-percent sales slump in the nine months ending September.
In the latest period, CFAO Motors Kenya, under the dynamic leadership of Reel, reported the sale of 30 Mercedes cars, a slight drop from the 32 units sold a year earlier when the company held a market share of 38.5 percent, according to data from the Kenya Motor Industry Association (KMIA).
Total sales of luxury cars in Kenya have declined from 83 to 55 during the same period, significantly underperforming the overall new luxury vehicle market, which experienced an 11.6-percent decrease, with orders plummeting from 9,868 to 8,715 units.
Despite the downturn in the demand for luxury cars due to worsening economic conditions, such as rising interest rates and currency depreciation affecting vehicle prices, CFAO has solidified its position as one of the top firms in the East African automotive industry.
Aggressive expansion and resilience are key to success amid economic challenges
Reel’s strategic leadership has been instrumental in the aggressive expansion of CFAO’s network of branches, dealerships, and authorized service centers across the country, contributing significantly to the company’s recent growth in the new luxury car business.
His success story in the automotive industry extends back to his appointment as Toyota Kenya’s managing director in 2017 when he became the first Kenyan to lead the local office since Toyota Tsusho Corporation initiated its operations in Kenya in 1964. Under his stewardship, Toyota Kenya’s market share has seen substantial growth.
When reflecting on his journey to the top in the dealership for popular Japanese brands like Toyota, Suzuki, Yamaha, and Hino, Reel offers a philosophical perspective. He says, “When you are running a race and you stumble on something, the quicker you stand up and continue running will differentiate you from others.”
Reel has skillfully navigated CFAO Motors Kenya through challenging times, including the difficult period of the COVID-19 pandemic and the rebranding from Toyota Kenya to CFAO Motors Kenya last year. During this period, the company faced numerous challenges, ranging from the global shortage of microchips to political events like the August polls and the dollar shortage crisis.
