CMC Motors Group, a prominent player in Kenya's automotive industry for over 40 years, has officially exited the market, citing mounting economic pressures.

Tuko.co.ke - Kenya news.

CMC Motors Group exits Kenyan market after 40 years: "Economic pressures"

CMC Motors Group has announced the gradual closure of its operations in East Africa after over 40 years of service in Kenya, Uganda, and Tanzania. In a statement released on Friday, January 17, 2024, the company explained that the decision was made after a thorough evaluation of the business in response to ongoing market challenges. These include economic pressure, currency depreciation, and rising operational costs. “This decision follows a tho…

KahawaTungu

Nairobi

Nairobi County

Kenya

CMC Motors Group Shuts Down Operations In East Africa

The group explained that the move follows a comprehensive evaluation of the business, driven by persistent market challenges.

The Citizen

Mwananchi Communications Ltd

Dar es Salaam

Tanzania

CMC Motors exits Kenya, Uganda and Tanzania as economic pressures bite

CMC Motors Group has announced its decision to cease all its operations in Kenya and two other countries which will result in mass job losses. The Group on Friday, January 17, 2025, announced its decision to gradually wind down operations in Kenya, Tanzania, and Uganda in full compliance with local regulations and distributorship agreements, ending over 40 years of business in the region.  According to CMC, the decision follows a thorough evalua…

Kenya Times Trending, Breaking News and Videos

Mass Layoffs as CMC Motors Shuts Down in Kenya After 40 Years

CMC Motors has announced that it is winding down operations and will eventually exit the Kenya, Tanzania and Uganda markets. This, the firm said, follows sustained market challenges “including economic pressures, currency depreciation, and rising operational costs”. “However, despite restructuring efforts and a transformation programme initiated in 2023, the market conditions have not provided a sustainable […]

NTV Kenya

Nation Media Group

CMC Motors exits Kenya, Uganda and Tanzania amid economic pressures

CMC Motors Group has announced its decision to gradually wind down operations in Kenya, Tanzania, and Uganda in full compliance with local regulations and distributorship agreements. According to CMC, the decision followed after a thorough evaluation of the business in light of sustained market challenges, including economic pressures, currency depreciation, and rising operational costs. Over the past 40 years, CMC Motors Group has played a vita…

kbc.co.ke

CMC Motors Group to cease operations in Nairobi

CMC Motors Group has officially announced its decision to exit the East African market after 40 years of operations, marking the end of a significant chapter in the region’s automotive industry’s history. The decision comes amid a challenging business environment characterized by economic pressures, currency depreciation, and rising operational costs, which have made it increasingly […]

peopledaily.digital

End of an era as CMC Motors Group exits regional market after 40 years of operation

The DailyMail

CMC Motors Group to cease operations in Nairobi - The DailyMail

CMC recently shifted focus on agriculture machinery. PHOTO URN KAMPALA, UGANDA | THE INDEPENDENT | CMC Motors Group, one of the oldest dealers in motor vehicles in East Africa, has announced it is ceasing operations in Uganda, Kenya and Tanzania. The Company, originally known for the distribution of Ford, Mazda and Suzuki vehicles said in a January 17 statement, that it had decided to gradually wind down operations in the region in full complian…

The Independent Uganda:

Cooper Motors ceasing operations in Uganda, Kenya and Tanzania

This decision follows a thorough evaluation of the business in light of sustained market challenges, including economic pressures, currency depreciation

CMC Motors Group exits Kenyan market after 40 years: "Economic pressures"

Coverage Details

Bias Distribution

Ownership

Similar News Topics

Similar News Topics