Egypt saw increases in car prices on the part of some dealers, during February, as the issue of overpricing makes its return.
Daily News Egypt reviewed the official price changes announced during February until the beginning of March, and the (...)
"The age of gasoline is gone" is a phrase that must be taken into account. We are at the beginning of a new era of cars with most of the world heading towards replacing old vehicles with new electric motors and renewable energy sources.
Consumers in (...)
The Automotive Marketing Information Council (AMIC)'s October report showed that Chevrolet continued its lead in selling rates in the Egyptian car market from January until the end of September 2017.
The American carmaker occupied 22.3% of sales, at (...)
A recent AMIC report indicated a decline in the demand on cars by 30%, recording sales of 12,361 only in September, down from 17,535 in September 2016. The report also showed a decline in the demand on passenger cars by 25%, recording sales of 9,615 (...)
Khaled Saad, the general manager of Brilliance Egypt, revealed that the company is currently considering local manufacturing instead of importing.
He added that the automobile sector is facing many obstacles that threaten its presence, especially (...)
Car companies expected a new drop in sales due to the pressure from the Central Bank of Egypt's (CBE) decision to raise the benchmark interest rate for the second time in less than two months.
A member of the board of directors of the Bavarian (...)
Automotive companies expected a further decline in the sector's sales, following the Central Bank of Egypt's (CBE) decision to increase the basic interest rate.
Khalid Saad, a board member in Bavarian Auto Group, said that the CBE's decision to (...)
The prices of Nissan, Hyundai, Renault, Chery, and Opel have seen an increase of up to EGP 30,000 due to the recessio0n experienced in the Egyptian market, while other companies managed to stabilise their prices in May.
Despite the sale offers made (...)
In spite of the discounts offered by companies during February and March, the decline in car sales fell by 46.5% in the first quarter of 2017 compared to the same period of 2016. The market saw sales of 26,500 units compared to 49,600 units, (...)
Chery cut the price of its Tiggo by EGP 37,000 to reach EGP 210,000, while the Envy's price recorded EGP 145,000, a decline of EGP 24,500.
The Chinese brand had increased the price of the Envy by about EGP 8,000 to record EGP 169,500 last month. It (...)
Hyundai decided to raise its prices again, following a period of discounts that lasted throughout last month and the first week of April. The carmaker suffered a sales drop in February, marking only 159 units compared to 3,439 units sold in February (...)
Chevrolet decided to lower its prices, where the carmaker decreased the price of the Aveo by EGP 10,000, to settle between EGP 173,600 and EGP 182,700.
As for the Optra, the prices were lowered by EGP 13,000, to begin at EGP 209,000. The price tag (...)
Ford decided to keep its prices unchanged, maintaining the same rates of February and March throughout April, with a slight increase in the price of the Ecosport, which saw an increase of EGP 4,000 to reach EGP 358,000.
Ford had raised its prices (...)
A state of volatility in the prices of Kia models began at the end of March. The company offered a discount of up to EGP 50,000 at the beginning of the month, before raising the prices again at the end of it.
Yet, in April, the carmaker decreased (...)
Nissan adjusted its models' prices and reduced the price of the New Sunny by EGP 5,000, so the starting price is now EGP 188,000 for the class A.
Nissan also applied discounts to the price of the Nissan Sentra by EGP 10,000, to register EGP 255,000 (...)
In an attempt to face recent price hikes and help those who want to purchase a new car, Daily News Egypt decided to participate in the initiative launched by the automotive department of Al-Masry Al-Youm newspaper, under the title "Buy Your Dream (...)
Automotive companies started offering price cuts in order to move the recession of the market.
The offers included Korean, Japanese, and American brands; European brands were absent from the campaign.
Khaled Saad, the general manager of Brilliance (...)
In a further escalation, the European Automobile Manufacturers' Association (ACEA) and the Egyptian Auto Feeders Association (EAFA) sent a joint letter to Jean-Luc Demarty, director general of the French Directorate-General of Customs and Indirect (...)
The automotive market saw a decline in prices over the past few days despite the fact that most major foreign car brands continued to raise their prices—a circumstance that created a state of wonder about the near future of the automotive market, (...)
Tarek Atta, the managing director for General Motors Egypt and North Africa, praised the effective role played by the annual Egypt Automotive Summit. It allows for real and strong public interaction between decision makers in the government and the (...)
The Egyptian Automotive Dealers Association has launched an initiative that seeks to halt potential layoffs, preserve employee rights, and continue selling cars following the Central Bank of Egypt's (CBE) decision to float the Egyptian pound. Daily (...)
Osama Aboul Maged, the chairperson of the Egyptian Automotive Dealers Association, praised the Central Bank of Egypt's decision to liberalise the exchange on Thursday, setting its value based on supply and demand mechanisms. He said the CBE's (...)
In the wake of the Central Bank of Egypt's (CBE) decision to liberate the exchange rate, opinions of workers in the automotive sector are varied as the impact of this decision on the sector is yet to be seen.
Some believe that this decision was long (...)
The future of Egypt's automotive industry is now at the mercy of the national currency's flotation and is subject to importers' provision of foreign currency, Hassan Soliman, head of the Egyptian Automobile Manufacturers Association (EAMA), said (...)
The Egyptian Automotive Dealers Association held a meeting for leading car importers in which the association announced it would halt the import of cars during November in support of Egypt's economy.
The association met recently, prior to the (...)