Coexistence with COVID-19 revives Egypt’s car market
More people will buy cars to avoid possible infection in public transport
Zamzam Mostafa
64 Articles
Latest by Zamzam Mostafa
Used car consumers remain cautious due to ongoing economic uncertainties
Used car sector dealers generally positive despite global pandemic
Egypt’s vehicle inventory starts moving as licensing resumes
Local assembly does not face global supply chains disruption problems
Local auto sector slowly recovers as vehicle licensing resumes
The pandemic has stymied the global automotive sector, causing disruption to production in factories and reducing the workforce. This has in turn seen global sales slashed by a whopping 51.8% during March.
Preliminary contract remedy for commercial transaction affected by notary’s offices closures
To protect rights of sellers, date of contract should be written down to disclaim responsibility for any violations that may occur after date of transaction
Automotive feeding industries to face troubled situation due to Covid-19 fallout
Several factories funnel their production to domestic spare parts market, says Tradeco’s El-Sayad
CBE imposes restrictions on cash transactions, penalty on contravening car dealers
The CBE has set a daily limit for cash deposits and withdrawals at bank branches for a temporary period at EGP 10,000 for individuals and EGP 50,000 for companies. The latter are exempt from these limits in case of paying salaries or other obligations.
Auto sector anticipates car licence resumption to benefit from interest rate cuts
Shift to digital payments boosts car sales
Fiat’s endeavor to establish additional showrooms & after sales service centers
Labib stressed the need to provide the infrastructure for electric vehicles before starting its production in Egypt.
Fiat Chrysler opens more showrooms, service centres soon
By giving several incentives that incentivises car manufacture -most notably the abolition of customs expenses on components and parts imported from abroad- local investors can continue to compete with imported cars, he added.
Egypt needs a new production strategy to keep up with international auto industry
Saad said there is a need to encourage small and large factories alike in order to promote a synergy that could cover the state’s target production volume, calling for grants and manufacturing incentives for companies and investors.
Strategy for electric car manufacturing in Egypt imperative
Licencing and setting up charging stations needed before manufacturing
Egyptian market far from effects of Hyundai, Kia production suspension
2021 models most affected by Coronavirus, no increase in car prices in Egypt
Licencing fees exemption most important incentive for investment in electric cars
As for taxis and public transportations, electric cars will be the ideal choice for them, as they travel long distances daily. In addition, this would save operating and maintenance expense that affect the price of the tariff.
Removing customs on Turkish cars adds to the burden facing used car market
From October to December 2019, an unusual boom prevailed, especially with the decline in the prices of new cars, which was followed by a decline in the prices of used cars.
Car prices expected to continue downtrend in 2020
“Turkish cars” next year’s sales’ password
Automotive market anticipates impacts of eliminating customs on Turkish-origin cars
Turkish car prices expected to fall by 2.5% in 2020
Chinese cars receive hard hit after Egypt removes custom duties on Turkish cars
Chinese cars assembly in Egypt is a lifeline before custom exemptions negatively affect Chinese car sales, says Saad
Despite dispute, Egypt-Turkey FTA remains valid
The source said all Egypt’s imports from Turkey will be fully exempted from customs by the beginning of 2020, explaining that only a supreme sovereign body can suspend or cancel such agreements.
Porsche opens all new service centre and releases the 2020 Cayenne
Ghattas said that the facility is the first electrical ready facility in the region and equipped with the necessary infrastructure for charging stations, preparing for the arrival of “the first fully electrical Porsche.”
AOI negotiates with 11 international car companies to convert vehicles to natural gas
First Egyptian gas-powered micro bus to be revealed next June, says Tarras
Latest developments in automotive market, including car pricing mechanism
The seminar was attended by Chairperson of the Egyptian Automobile Dealers Association, Osama Abou El Magd, and a member of the Automobile Dealers Association, Montaser Zeitoun, and Gamal Askar, an automotive expert.
Total loss cars to be only sold through auctions
Value of compensation set according to market value, value of insurance policy
High car sales expected after activation of price control committee, interest rate cuts: experts
The committee also organises supervisory campaigns nationwide, in coordination with various concerned authorities, to ensure that traders abide by legal controls, and to control cases that constitute harmful practices to the consumer, tax evasion, or other offenses that constitute crimes during the course of their work.
Experts believe Egypt can localise freight transport trucks, railway carriages industries
Deputy Head of the Chamber of Engineering Industries (CEI) affiliated to the Federation of Egyptian Industries (FEI), Abdel Moneim El-Kady, said that domestic manufacturing of trucks in Egypt is not a hard task, given that Egypt is fully qualified to manufacture trucks instead of assembling them.
Developing solid local feeder industry needs mass production
The automotive sector has recently been through several developments and decisions, which led to a leap in the domestic industry. The Egyptian government has taken various initiatives in an effort to create a strong automotive industry.
Automech Formula to launch September 18
Electric cars most prominent player in next session of Automech Formula: Khafagy
Automotive Division discusses sector crises
The General Federation of Chambers of Commerce in Cairo held a conference on Wednesday for the Automotive Division, which was attended by Omar Belbaa, Head of Division and Head of Belbaa Trading and Import Company; Wael Tarek Ismail, chairperson of Al Tareq Company for Trading, Importing and Distribution of Cars; Amr Hassan Sulaiman, chairperson of …
BMW first brand to officially launch electric vehicles in Egypt
The Bavarian Auto Group (BAG), BMW and Mini’s exclusive dealership in Egypt, became the first brand to launch electric vehicles (EVs) in Egypt. BAG completed the preparations to introduce a new generation of cars to keep pace with international markets. The most prominent preparations made by the group for customers are the completion of the …
Conflicting views in automotive sector about Consumer Protection Law’s regulations
Experts and workers in the automotive sector in Egypt had conflicting opinions on the executive regulations of the Consumer Protection Law No. 181 of 2018, which was issued by prime minister in early April. The law provides the right for customers to replace or return any item without giving any reasons or bearing any expenses …