Mogo Auto Ltd has launched an auction for 37 repossessed vehicles across Nairobi, Kisumu, Mombasa, and Meru, featuring models from economy cars to luxury 4x4s.
Bidding is now open for the inventory, which includes Toyota, Nissan, Honda, and Mazda vehicles priced from KSh 98,000 to KSh 7.5 million.
7% increase compared to the previous month, as more affordable EVs appear on used-car lots.
The sale underscores the ongoing challenges in the auto-finance sector, where borrowers are increasingly defaulting on loans, leading to a surge in repossessed inventory available for secondary-market buyers.
This development comes as the used car market shows a sharp divergence between vehicle types, with affordable combustion-engine models emerging as the clear winners in terms of value retention.
Meanwhile, used electric vehicle (EV) sales are surging, with recent data showing a 27.7% increase compared to the previous month, as more affordable EVs appear on used-car lots.
The auction reflects broader trends in the East African automotive market, where liquidity constraints are driving both supply and demand dynamics.