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Higher costs hit personal car sales.

“The sales dropped towards the end of the year due to the exchange rate, which was a big contributor and also as a result of interest rates going up. “Most clients were not willing to take up financing,” said Frank Okemwa, business and development manager at Kenya Car Bazaar.

Disputed loan pushes Marshalls to profitability

The auto firm recorded a net profit of Sh181.5 million in the year to March compared to a loss of Sh344 million in a similar period last year in spite of its sales dropping to Sh263 million down from Sh604 million last year and Sh1.3 billion in 2007.

China vehicle maker to open Kenya plant

China’s vehicle manufacturer Foton is setting up an assembly plant in Kenya in what is set to heighten the battle between China and Western...