Munster's longest established Ford dealership has been acquired by the multi-outlet Joe Duffy Motor Group. It's the latest in a series of acquisitions by one of the biggest car sales groups in the State.
Cork-based CAB Motors was founded in 1925. In 1973 it was bought by Tom Cavanagh, who relocated the dealership to its present location on Monahan Road in order to be near the Ford plant. Since 1988 the business has been run by his son Conor.
The most recent filed accounts show the company reported a loss of €411,718 on turnover of €21.1 million for the year ended December 31st, 2019. It had 50 employees at the time.
JDM Automotive recently reported sales of close to €338 million for last year, a 5 per cent increase on 2019. Annual profits for 2020 were €7.1 million.
The company has 21 dealerships and sells more than 10 car brands, plus a used car business under the ZuCar brand. The business is 90 per cent owned by its chief executive Gavin Hydes.