The Kenya Revenue Authority (KRA) has rolled out a new Current Retail Selling Price (CRSP) schedule for used motor vehicles, effective July 1, 2025. This update significantly impacts the importation of Hyundai vehicles into Kenya, influencing customs valuation and the overall cost for importers, dealers, and consumers. This comprehensive article delves into the details of the CRSP schedule for Hyundai vehicles, its implications for the Kenyan automotive market, and actionable insights for stakeholders.
Understanding the KRA CRSP Schedule
The Current Retail Selling Price (CRSP) is a standardized valuation tool used by the KRA to determine the customs value of imported used vehicles. This value forms the basis for calculating import duties, VAT, excise duties, and other levies, directly affecting the final cost of importing a vehicle. The 2025 CRSP schedule for Hyundai vehicles encompasses a wide range of models, including sedans, SUVs, hatchbacks, station wagons, vans, and trucks, with prices reflecting current market trends, currency fluctuations, and economic policies.
The CRSP schedule ensures consistency in tax assessments, minimizing discrepancies and providing clarity for importers. For consumers, it influences vehicle affordability, while dealers and importers must adjust their strategies to align with the updated valuations.
Reasons for the 2025 Update
The KRA revises the CRSP schedule periodically to account for:
- Currency fluctuations: The Kenyan Shilling’s value against major currencies like the US Dollar and South Korean Won impacts import costs.
- Market demand: Growing popularity of hybrid and electric vehicles in Kenya influences pricing for models like the Ioniq and Kona Electric.
- Government policies: Incentives for eco-friendly vehicles and adjustments to tax revenue targets shape CRSP values.
- Global economic factors: Rising production and shipping costs due to supply chain dynamics contribute to price updates.
This update, effective July 1, 2025, aligns customs valuations with these factors, ensuring relevance in Kenya’s dynamic automotive market.
Key Highlights of the 2025 CRSP Schedule for Hyundai Vehicles
The 2025 CRSP schedule covers an extensive lineup of Hyundai vehicles, from compact hatchbacks like the i20 and i30 to premium SUVs like the Palisade and Santa Fe, as well as commercial vehicles like the Staria and EX series trucks. Below, we break down the CRSP values for selected Hyundai models, organized by vehicle type for clarity.
Sedans
| Model | Variant | Transmission | Engine (cc) | CRSP (KES) | Fuel Type |
|---|---|---|---|---|---|
| Elantra Sport Premium (Red) | Sport Premium (Red) | AUT | 1600 | 7,506,230 | Petrol |
| Elantra Sport (Black) | Sport (Black) | AUT | 1600 | 6,836,030 | Petrol |
| i30 Elite HEV 1.6P DCT | Elite HEV 1.6P DCT | AUT | 1600 | 5,483,447 | Hybrid |
| i30 N Premium with Sunroof | N Premium with Sunroof | AUT | 2000 | 7,896,164 | Petrol |
| Genesis Ultimate Pack | Ultimate Pack | AUT | 3800 | 34,103,558 | Petrol |
SUVs
| Model | Variant | Transmission | Engine (cc) | CRSP (KES) | Fuel Type |
|---|---|---|---|---|---|
| Santa Fe Calligraphy (6 Seat) | Calligraphy (6 Seat) | AUT | 1600 | 11,668,044 | Hybrid |
| Tucson Premium Hybrid (AWD) | Premium Hybrid (AWD) | AUT | 1600 | 8,715,025 | Hybrid |
| Kona Hybrid Premium N Line | Premium N Line | AUT | 1600 | 6,799,474 | Hybrid |
| Palisade Calligraphy (7 Seat) | Calligraphy (7 Seat) | AUT | 3800 | 12,023,371 | Petrol |
| Inster Cross SRF 2WD (49kWh) | Cross SRF 2WD (49kWh) | AUT | 49kWh | 6,580,136 | Electric |
Hatchbacks
| Model | Variant | Transmission | Engine (cc) | CRSP (KES) | Fuel Type |
|---|---|---|---|---|---|
| i30 N Line MHEV | N Line MHEV | AUT | 1500 | 5,264,109 | Petrol |
| i20 N | N | MAN | 1600 | 5,190,996 | Petrol |
| Veloster Turbo Premium TTR | Turbo Premium TTR | AUT | 1600 | 5,468,824 | Petrol |
| Ioniq Hybrid Premium | Ioniq Hybrid Premium | AUT | 1600 | 8,069,197 | Hybrid |
| Ioniq 5 Lounge | ZAA-NE2LRG | AUT | EV | 9,623,136 | Electric |
Station Wagons and Vans
| Model | Variant | Transmission | Engine (cc) | CRSP (KES) | Fuel Type |
|---|---|---|---|---|---|
| Staria Highlander | Highlander | AUT | 3500 | 10,217,489 | Hybrid |
| i40 Premium Tourer | Premium Tourer | AUT | 2000 | 6,594,759 | Petrol |
| Staria Load 2S 2.2D Liftback | Load 2S 2.2D Liftback | AUT | 2200 | 6,834,568 | Diesel |
| Ioniq 5 Epiq AWD (84kWh) | Epiq AWD (84kWh) | AUT | 84kWh | 12,984,802 | Electric |
| iMax Elite | Elite | AUT | 2500 | 11,125,304 | Diesel |
Trucks and Single Cabins
| Model | Variant | Transmission | Engine (cc) | CRSP (KES) | Fuel Type |
|---|---|---|---|---|---|
| EX4 Premium Freezer (MWB) | Premium Freezer (MWB) | AUT | 3900 | 13,135,707 | Diesel |
| EX6 Freezer (SWB) | Freezer (SWB) | AUT | 3900 | 12,015,183 | Diesel |
| EX8 Super Cab Flat Deck (ELWB) | Super Cab Flat Deck (ELWB) | AUT | 390Dick | 10,447,209 | Diesel |
| 6S Liftback | Liftback | AUT | 2500 | 9,624,059 | Diesel |
| EX4 Standard Cab (SWB) | Standard Cab (SWB) | MAN | 3900 | 7,675,217 | Diesel |
Electric and Hybrid Vehicles
The CRSP schedule emphasizes Kenya’s shift toward sustainable mobility, with several electric and hybrid Hyundai models:
- Ioniq 5 N (84.0kWh): Priced at KES 16,140,782, this high-performance electric station wagon is the most expensive in the lineup.
- Ioniq 6 Epiq DSM AWD (77.4kWh): Valued at KES 13,087,160, this electric sedan targets premium buyers.
- Kona Hybrid Premium N Line Sunroof: At KES 7,018,812, this SUV offers a balance of performance and efficiency.
- Inster 2WD (42kWh): Priced at KES 5,702,785, this compact electric SUV is an affordable entry into electric mobility.
- Santa Fe Calligraphy (6 Seat): Hybrid models range from KES 10,717,580 to KES 11,668,044, catering to family-oriented buyers.
Implications for the Kenyan Automotive Market
The 2025 CRSP schedule for Hyundai vehicles has significant implications for importers, dealers, and consumers in Kenya’s automotive sector. Below, we explore these impacts in detail.
For Importers
- Premium Model Challenges: High CRSP values for models like the Genesis Ultimate Pack (KES 34,103,558) and Ioniq 5 N (KES 16,140,782) will increase import duties, potentially reducing import volumes for luxury vehicles.
- Focus on Eco-Friendly Vehicles: The inclusion of electric and hybrid models like the Ioniq 5 and Kona Electric aligns with Kenya’s green transport initiatives, encouraging importers to prioritize these vehicles.
- Cost Optimization: Importers may source vehicles from markets with favorable exchange rates, such as South Korea, to mitigate high CRSP costs for models like the Venue and Accent.
For Dealers
- Price Adjustments: Higher CRSP values for premium models will lead to increased retail prices, particularly for SUVs like the Palisade and Santa Fe.
- Inventory Focus: Affordable models like the Venue (Base) (KES 3,290,068–3,582,519) and i30 (Base) (KES 3,509,406) will appeal to budget-conscious buyers, prompting dealers to stock these variants.
- Marketing Strategies: Dealers can capitalize on the growing demand for hybrids and electric vehicles by promoting fuel savings and potential tax incentives for models like the Ioniq and Kona Hybrid.
For Consumers
- Affordability Concerns: Premium models like the Genesis and Palisade will be less accessible due to higher landed costs, pushing consumers toward more affordable options like the Venue and Accent.
- Eco-Friendly Options: Competitive CRSP values for electric and hybrid models, such as the Inster and Kona Electric, make them attractive for environmentally conscious buyers.
- Diverse Choices: The wide range of Hyundai models, from compact hatchbacks to spacious SUVs, caters to diverse consumer needs, from urban commuters to large families.
How CRSP Affects Customs Valuation
The CRSP is the foundation for calculating customs duties, which typically include:
- Import Duty: 25% of the CRSP for most vehicles.
- Excise Duty: Varies by engine size (e.g., 20% for engines below 1500cc, 25% for 1501–3000cc).
- VAT: 16% of the combined CRSP, import duty, and excise duty.
- Other Levies: Including the Import Declaration Fee (2.5%) and Railway Development Levy (1.5%).
For example, for a Hyundai Tucson Premium Hybrid (AWD) (CRSP KES 8,715,025):
- Import Duty: 25% of 8,715,025 = KES 2,178,756
- Excise Duty (25% for 1600cc): 25% of 8,715,025 = KES 2,178,756
- VAT: 16% of (8,715,025 + 2,178,756 + 2,178,756) = KES 2,020,151
- Total Taxes (approx.): KES 6,377,663
- Total Landed Cost: KES 8,715,025 + 6,377,663 = KES 15,092,688
This calculation highlights how CRSP directly impacts the final cost, affecting vehicle affordability.
Strategies for Navigating the New CRSP Schedule
To manage the impact of the updated CRSP values, stakeholders can adopt the following strategies:
- For Importers:
- Source vehicles from cost-effective markets to offset high CRSP values, particularly for budget models like the Venue and i30.
- Prioritize importing hybrid and electric models to align with government incentives and consumer demand.
- Negotiate bulk deals with suppliers to reduce per-unit costs for high-demand vehicles.
- For Dealers:
- Offer financing options to make premium models like the Santa Fe and Palisade more accessible.
- Emphasize the long-term savings of hybrid and electric vehicles in marketing campaigns.
- Partner with financial institutions to provide competitive loan packages for affordable models like the Accent and i20.
- For Consumers:
- Compare CRSP values across models to identify cost-effective options, such as the Venue (Base) or i30 (Base).
- Explore hybrid and electric models for potential tax breaks and fuel savings.
- Work with reputable dealers to ensure transparent pricing and avoid unexpected costs.
The Future of Hyundai Vehicles in Kenya
The 2025 CRSP schedule reflects Kenya’s evolving automotive landscape, with a strong emphasis on sustainability and affordability. The inclusion of electric models like the Ioniq 5 and Inster, alongside hybrids like the Kona and Santa Fe, aligns with global trends toward greener transport. Affordable models like the Venue and Accent cater to budget-conscious buyers, while premium offerings like the Genesis and Palisade target the luxury segment.
As Kenya advances its infrastructure and promotes eco-friendly policies, the demand for hybrid and electric vehicles is expected to grow, with Hyundai well-positioned to capitalize on this trend. The KRA’s regular CRSP updates ensure that valuations remain aligned with market realities, fostering a dynamic and competitive automotive sector.
The KRA’s 2025 CRSP schedule for Hyundai vehicles, effective July 1, 2025, introduces significant changes to the cost of importing used vehicles into Kenya. By understanding the updated CRSP values, importers, dealers, and consumers can make informed decisions to navigate the market effectively. From affordable hatchbacks to premium SUVs and electric models, Hyundai offers diverse options to meet varying needs, with a clear focus on sustainability. Stay informed and strategize wisely to leverage these changes in Kenya’s vibrant automotive industry.
