{"id":637573,"date":"2017-11-20T04:08:30","date_gmt":"2017-11-20T04:08:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/peugeot-citroen-reportedly-ending-its-41-year-partnership-with-cdcm-mansour-group-said-to-be-closing-in-for-the-rebound\/"},"modified":"2017-11-20T04:08:30","modified_gmt":"2017-11-20T04:08:30","slug":"peugeot-citroen-reportedly-ending-its-41-year-partnership-with-cdcm-mansour-group-said-to-be-closing-in-for-the-rebound","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/peugeot-citroen-reportedly-ending-its-41-year-partnership-with-cdcm-mansour-group-said-to-be-closing-in-for-the-rebound\/","title":{"rendered":"Peugeot Citroen reportedly ending its 41-year partnership with CDCM; Mansour Group said to be closing in for the rebound"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Peugeot Citroen reportedly ending its 41-year partnership with CDCM; Mansour Group said to be closing in for the rebound :<\/strong> The Peugeot-Citroen arm of <a href=\"https:\/\/www.groupe-psa.com\/en\/brands-and-services\/\">Groupe PSA<\/a> has reportedly decided not to renew its distribution agreement with Cairo For Development and Cars Manufacturing (CDCM), its licensed distributor of Peugeot vehicles in Egypt for the last 41 years, <a href=\"https:\/\/alborsanews.com\/2017\/11\/19\/1066041\">Al Borsa reports<\/a>. The move had apparently caught CDCM and its parent company, Arabia Investments, Development and Financial Investment Holding Company (AIND), off guard. AIND\u2019s head of investor relations Hisham Ismail tells the newspaper that they are still trying to contact the French car manufacturer as to why it had terminated the contract, adding that the move had indeed been a surprise. Ismail added that AIND \u201cwill take legal action to preserve its rights and protect the interests of shareholders.\u201d Other sources at CDCM, speaking anonymously, said the company had just placed orders for more cars.<\/p>\n<p><strong>This comes as Mansour Group representatives had apparently been in talks to become the licensed Peugeot Citroen distributor<\/strong> after parent company Groupe PSA acquired Opel back in March, Mansour officials tell the newspaper. Mansour reportedly faced competition from Al Futtaim, Ezz Al Arab, MTI Group, and others. Sources added that Peugeot Citroen is expected to make an announcement of its decision before the end of the year.<\/p>\n<p><strong>Attacking the proposed Automotive Directive from another angle:<\/strong> The story comes amid complaints by some in the automotive sector that Egypt\u2019s trade liberalization pact with the European Union, which gradually eliminated customs on car imports, has not led to a decrease in prices. (Shocking in a post-float environment, right?) Sticker prices on EU imports have shot up by as much as EGP 100K for some brands, said industry expert Raafat Masrooga, member of the Automotive Marketing Information Council, <a href=\"http:\/\/www.almalnews.com\/Story\/353700\/18\/%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%8A%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-11-%D8%B4%D9%87%D8%B1%D9%8B%D8%A7---%D8%B2%D9%8A%D8%A7%D8%AF%D8%A7%D8%AA-%D9%85%D8%B3%D8%AA%D9%85%D8%B1%D8%A9-%D8%B1%D8%BA%D9%85-%D8%A7%D9%84%D8%AE%D8%B5%D9%88%D9%85%D8%A7%D8%AA-%D8%A7%D9%84%D8%AC%D9%85%D8%B1%D9%83%D9%8A%D8%A9\">according to Al Mal<\/a>. The solution, he says? Don\u2019t grow domestic industry by granting local manufacturers incentives to move up the value chain to manufacturing. Nope. The genius believes the Finance Ministry should simply eliminate customs and tariffs on all car imports. All that\u2019s missing from the story is the bright shiny sticker announcing it was paid for by the nation\u2019s CBU importers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peugeot Citroen reportedly ending its 41-year partnership with CDCM; Mansour Group said to be closing in for the rebound : The Peugeot-Citroen arm of Groupe PSA has reportedly decided not to renew its distribution agreement with Cairo For Development and Cars Manufacturing (CDCM), its licensed distributor of Peugeot vehicles in Egypt for the last 41 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-637573","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"23ca50ef-07b7-4a64-8ea5-c627e8d2a2a7","order":"0","is_powered_by":true,"section_story_id":"08d025e9-cecb-4d00-ba44-1098b3d37336","story_type":"1","photo_url":"","photo_position":"above","related_issue":[637565],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Peugeot Citroen reportedly ending its 41-year partnership with CDCM; Mansour Group said to be closing in for the rebound - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/peugeot-citroen-reportedly-ending-its-41-year-partnership-with-cdcm-mansour-group-said-to-be-closing-in-for-the-rebound\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Peugeot Citroen reportedly ending its 41-year partnership with CDCM; Mansour Group said to be closing in for the rebound\" \/>\n<meta property=\"og:description\" content=\"Peugeot Citroen reportedly ending its 41-year partnership with CDCM; Mansour Group said to be closing in for the rebound : The Peugeot-Citroen arm of Groupe PSA has reportedly decided not to renew its distribution agreement with Cairo For Development and Cars Manufacturing (CDCM), its licensed distributor of Peugeot vehicles in Egypt for the last 41 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/peugeot-citroen-reportedly-ending-its-41-year-partnership-with-cdcm-mansour-group-said-to-be-closing-in-for-the-rebound\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-20T04:08:30+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/peugeot-citroen-reportedly-ending-its-41-year-partnership-with-cdcm-mansour-group-said-to-be-closing-in-for-the-rebound\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/20\/peugeot-citroen-reportedly-ending-its-41-year-partnership-with-cdcm-mansour-group-said-to-be-closing-in-for-the-rebound\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Peugeot Citroen reportedly ending its 41-year partnership with CDCM; 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The group hired attorney Ashraf Yehia, an international arbitration\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637789,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/26\/mansour-group-led-consortium-wins-distribution-rights-for-peugeot-cars\/","url_meta":{"origin":637573,"position":1},"title":"Mansour Group-led consortium wins distribution rights for Peugeot cars","author":"enterpriseam admin","date":"26 November 2017","format":false,"excerpt":"Also from the land of cars this morning: Mansour Group-led consortium wins distribution rights for Peugeot cars: The Peugeot-Citroen arm of Groupe PSA has reportedly selected a consortium of Mansour Group and Dubai-based Scope Investment to be its licensed distributor of Peugeot vehicles in Egypt, Al Borsa reports. The decision\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605129,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/23\/peugeot-citroen-in-court-in-cdcm-case-today\/","url_meta":{"origin":637573,"position":2},"title":"Peugeot Citroen in court in CDCM case today","author":"enterpriseam admin","date":"23 December 2018","format":false,"excerpt":"COURT WATCH- Court will hear EUR 150 lawsuit against Peugeot Citroen today: A Cairo court will begin hearing today a lawsuit brought by Arabian Investments, Development and Financial Investment Holding Co. (AIND) subsidiary Cairo for Development and Cars Manufacturing (CDCM) against Peugeot Citroen. CDCM brought the case after the French\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605240,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/26\/court-delays-peugeot-citroen-cdcm-case-hearing-to-3-february\/","url_meta":{"origin":637573,"position":3},"title":"Court delays Peugeot Citroen CDCM case hearing to 3 February","author":"enterpriseam admin","date":"26 December 2018","format":false,"excerpt":"COURT WATCH- Court delays hearing in EUR 150 lawsuit against Peugeot Citroen to 3 February: A Cairo court has delayed its hearing in a lawsuit by a subsidiary of Arabian Investments, Development and Financial Investment Holding Co. (AIND) against Peugeot Citroen. CDCM brought the case after the French automaker ended\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":633122,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/27\/cdcm-looking-to-replace-peugeot-with-a-chinese-car\/","url_meta":{"origin":637573,"position":4},"title":"CDCM looking to replace Peugeot with a Chinese car","author":"enterpriseam admin","date":"27 February 2018","format":false,"excerpt":"Cairo for Development and Cars Manufacturing (CDCM) is looking to replace the loss of Peugeot with a Chinese brand, an unnamed shareholder in parent company Arabia Investments, Development and Financial Investment Holding Company told Al Mal on Sunday. The company is mulling between Bisu Auto or GAC Motors as their\u2026","rel":"","context":"In &quot;Automotive + Transportation&quot;","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600644,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/05\/egypt-court-delays-peugeot-citroen-cdcm-case-hearing-to-17-march\/","url_meta":{"origin":637573,"position":5},"title":"Egypt court delays Peugeot Citroen CDCM case hearing to 17 March","author":"enterpriseam admin","date":"5 February 2019","format":false,"excerpt":"COURT WATCH- Court delays hearing in EUR 150 mn lawsuit against Peugeot Citroen: A Cairo court has delayed to 17 March a hearing in a lawsuit by Arabian Investments, Development and Financial Investment Holding Co. 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