However, a shifting perspective is emerging as individuals and entrepreneurs recognize the potential of cars as profitable investments.
From ride-hailing services to delivery platforms, cars can be transformed into revenue-generating assets that contribute not only to personal mobility but also to financial growth.
A few years ago, cars were seen as liabilities due to their high purchase price, maintenance costs, and depreciation.
However, the rise of the sharing economy and digital platforms has transformed the way we view car ownership.
Instead of being merely a mode of transportation, cars can now be leveraged to generate income.
This paradigm shift has given rise to opportunities that were previously unimaginable and below are some of them.
Joining the ride-share revolution
Ride-hailing services like Bolt, Little Cab and Uber have gained significant traction in Kenya’s urban areas.
With a well-maintained and presentable car, one can employ a driver or opt to have a weekend side hustle as a ride-hail driver, catering to the growing demand for convenient and reliable transportation.
This option allows car owners to earn a consistent income while maintaining flexible working hours.
Cars best suited for this are Daihatsu, Toyota Pixis, Suzuki Alto, Nissan Dayz, Suzuki Hustler among others that have an engine rating of 600cc to 700 cc.
Tapping into e-commerce boom
The rapid growth of e-commerce in Kenya has fueled the demand for efficient and timely delivery services.
Car owners can capitalize on this trend by partnering with delivery platforms such as Glovo or Jumia Food.
By delivering packages or food orders, individuals can earn money while contributing to the logistics infrastructure of the country.
Some of the cars to consider for this are those with a large trunk space and 1000cc to 1600cc like Nissan Advan, VW Touran, Nissan Caravan, Toyota Porte, Toyota Spade.
Car rentals: Catering to travelers and tourists
Tourism is a significant industry in Kenya, attracting both local and international visitors.
Car owners can convert their vehicles into rental options for tourists looking to explore the country at their own pace.
Some options to consider include Suzuki Jimny, Toyota Noah, Honda Stepwagon, Mitsubishi Pajero.
This list is largely open due to the vast options that clients may request, based on their choice of destination, number of travelers, and cost of hiring the unit.
School transportation
In Kenya, providing school transportation during your daily commute can be both rewarding and community-focused.
Parents highly value safe and dependable transportation for their children, making your service invaluable.
The advantage is that the school schedule often aligns with your daily commute, optimizing your time and resources.
Minivans like the Toyota Noah, Mitsubishi Delica, Toyota Voxy, or Nissan Serena are excellent choices due to their ample space and reputation for reliability.
They come equipped with sliding doors for easy entry and exit. Alternatively, you can use any four-door car that meets safety standards, especially if it’s part of your daily work commute.
VIP transportation
The demand for luxury transportation experiences has risen with the increasing affluence in the EA region. High-profile individuals, business executives, and tourists seeking personalized and exclusive travel options have paved the way for upscale transportation services.
Car owners can tap into this market by offering VIP transfers, airport pickups, and chauffeur services in vehicles equipped with premium amenities and exceptional comfort.
Luxury SUVs like the RangeRover, Mercedes-Benz ML and GL, BMW X5 among others offer a seamless blend of opulence and reliability.
The VIP transfers and travel sector not only offers a lucrative opportunity for car owners but also contributes to Kenya’s reputation as a high-quality destination for travelers seeking sophisticated transportation solutions.
Kenya’s evolving economic landscape presents numerous opportunities for turning cars into profitable investments.
The shift from considering cars as mere expenses to recognizing their potential as income generators has opened doors for individuals to diversify their income streams.
Whether through ride-hailing, delivery services, rentals, advertising, or niche transportation, car owners can leverage their vehicles to achieve financial growth while contributing to the country’s overall development.
As the digital economy continues to expand, the potential for cars as revenue-generating assets is poised to grow even further.
