Six car dealers—Chevrolet, Ford, Toyota, Chery, Hyundai, and BMW—changed their prices of February 2018 car deliveries. Prices rose by EGP 2,000 for cars like the Hyundai Verna and by about EGP 90,000 for cars such as the BMW X1.
The majority of car companies welcomed 2018 by fixing their prices, with the exception of minor modifications to the prices of some models such as ones from Renault, Toyota, and Hyundai.
Daily News Egypt publishes the new rates and the journey of price changes, which began in mid-2016 and increased after the liberalisation of the exchange rate in early November of the same year.
BMW raises prices for X models
BMW raised the price of its X family of models, adding EGP 90,000 on the X1 car to reach EGP 850,000, and EGP 25,000 on the X3 to reach EGP 1.05m. The X4’s price reached EGP 1.425m, while the X5 reached EGP 1.85m, increasing by EGP 60,000. The X6 increased EGP 50,000, reaching EGP 3.15m.
Ghabbour keeps Geely prices at EGP 175,000, increased CheryTiggo prices by EGP 2,000
Ghabbour Auto, Geely’s agent, kept the prices of December 2017 unchanged. The price of the Emgrand 7 remained EGP 175,000 until early February.
The company raised the prices of the Cherry Tiggo by EGP 2,000, reaching about EGP 235,000, while it kept the Envy at EGP 160,000.
Ghabbour Auto added EGP 16,500 to Chery Envy’s price and EGP 40,500 to the Tiggo model between November 2016 and 2017.
Hyundai changes Verna and Accent prices
The Korean brand Hyundai increased the price of its Verna models by EGP 2,000, with the first category of the manual car starting at EGP 159,900, and EGP 185,900 for the automatic.
Hyundai has already cut the price of its manual Verna model to record EGP 158,500 in January, while the Korean brand kept last December’s prices for the rest of its models.
Toyota Corolla increased by EGP 3,000
Toyota’s Corolla rose by EGP 3,000 to reach EGP 355,000, while last month’s prices remained the same for the rest of Toyota’s models.
Since the pound flotation, the pricing policy of the Japanese brand has been very bullish. The prices of its models have increased by 33.5% to 129.5%.
Opel keeps January delivery prices
Opel kept January prices the same in early February. The company raised the price of its Insignia by about EGP 15,000 to EGP 480,000 at the end of last year, while the rest of its models’ prices remained stable.
Figures revealed that the German brand increased its cars’ prices since the pound flotation until the end of October 2017 by 17-52%.
Mitsubishi kept its February prices the same as December 2017’s delivery prices. Last December, the Japanese brand raised the price of the Lancer by EGP 17,000 to reach EGP 264,900 in its lowest class and EGP 296,000 in its highest category.
Renault Captur rises to EGP 360,000
Renault raised the price of its Captur by EGP 30,000 to reach EGP 360,000, while keeping the prices of the rest of its models unchanged since the start of the year.
Last month, Renault decreased its Sandero by EGP 25,000 to reach EGP 216,000 for the basic category.
Ford increases Fusion and Koga prices
The Ford Fusion reached EGP 499,000, an increase of EGP 14,000, while the Kuga increased by EGP 10,000 to reach EGP 549,000, while the Focus reached EGP 344,000.
Ford had fixed its delivery prices for the past three months.
A break for Nissan after December 2017 improvements
Nissan kept the prices of last December the same in January and early February.
Nissan raised the price of its models at the end of last year. The Sunny recorded an increase of about EGP 7,000, and the Centra increased by EGP 10,000 to reach EGP 295,000. On the other hand, the Qashqai increased by EGP 19,000 to reach EGP 424,000. The Juke Platinum increased about EGP 30,000 to become EGP 355,000.
Nissan was considered the lowest priced brand between November 2016 and November 2017, with a 10.2% to 32.8% increase, with the exception of the Juke Platinum, which rose by 96.13% during that period.
Stability of Kia prices for three consecutive months
Kia’s prices stabilised for the third month in a row, while its prices saw some of the most marked jumps from mid-2016 to mid-2017.
Chevrolet raised Aveo, Optra, and N300 prices
Chevrolet raised Aveo’s price by EGP 2,000 to reach EGP 190,800. Moreover, Optra’s price increased by EGP 6,000 to reach EGP 222,000, while the N300 rose EGP 19,900 to reach EGP 169,150.
The American brand fixed January’s prices to December 2017 deliveries, and it stabilised the Aveo’s price at the time at EGP 188,800.
Mercedes refrains from price adjustments for five months
Mercedes preferred to absorb the price hikes that followed the pound flotation and decided to continue consolidation, as the last price adjustment witnessed by its models was five months ago.
Mercedes had already approved increases of 22% to 72%, one year after the November 2016 flotation.
Mercedes added EGP 234,000 to the price of the C180, EGP 165,000 to the CLA180, EGP 500,000 to the E180, EGP 305,000 to the GLA 200, and EGP 460,000 to the S400.