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Car prices set records a month after flotation

Price increases swept across the automotive industry in November, with 162 models across various brands experiencing record price hikes. Automotive companies decided to raise prices in response to the increased cost of importing vehicles and their components after the Central Bank of Egypt decided to float the Egyptian pound, more than doubling the value of …

Ahmed Amer

Customs on imported cars increase by 66% after flotation

Customs charges on imported cars increased by 66% on Friday following the flotation of the Egyptian pound. This decision was made on Thursday when customs recorded a 52% increase calculated according to the price of the US dollar against the Egyptian pound in the free market, which will be reviewed on a daily basis. The …

Ahmed Amer

GB Auto acquires 96% of Chinese-made car sales

Ghabbour Auto was able to acquire 96% of the Chinese car market in Egypt. Its two main brands, Chery and Geely, recorded sales of 5,777 units over the first seven months of 2016. The entire Chinese car market in Egypt achieved sales of 6,013 units over that same period, though the competition was limited between …

Daily News Egypt

Sales shrink due to pricing difficulties

Several car dealerships kept their prices unchanged from July to August, despite the turmoil that hit the automotive market when the US dollar exchange rate rose above EGP 13. Other companies chose to temporarily raise their prices. Distributors and traders also raised the prices to counter the increasing cost of imports. Chairperson of El-Saba Automotive …

Ahmed Amer

Car prices continue to climb in June

The automotive market has witnessed dramatic prices increase in recent months, driven by the shortage of hard currency required for importing and the high exchange rate on the informal market.

Ahmed Amer

US joins German Ford bribe investigation

A German investigation of bribery at a Russian port now includes US authorities. Employees of automaker Ford and haulier DB Schenker are accused of paying bribes to expedite freight to a St. Petersburg car plant

Deutsche Welle