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Motor industry registers drop as cash strapped businesses, households stay away

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Boda boda operators wait for giveaways and fuel happy hour session during the launch of Galana energy service station at Kithini market in Machakos County on December 3, 2024. [John Muia, Standard]

The motor vehicle industry registered a major decline last year as many households and businesses froze acquisitions owing to a mix of factors.

These included tough economic conditions, refusal by banks to lend to Kenyans and high taxes that affected both spending power for many and drove up vehicle costs.

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