Latest in Automotive Highlight
Latest in Automotive
Mercedes to visit Egypt to explore investment opportunities in local market
The economic reform programme spreads confidence among international companies and increases the chances of them investing in Egypt, says Kabil
25.4% decline in automotive sales over past 10 months
Sales of passenger cars declined by 24.1%, buses by 31.8%, and trucks by 26.3%
Amendments to draft financial leasing law enables leasing of assets for consumption purposes
The law will be submitted to the cabinet within days, said Sami
Fighting in Egypt to expand exporting to new markets: Nassar
Egypt has a lot of potential in Automotive industry compared to other countries in the region :Matta
3rd annual Egypt Automotive Summit witnesses largest industry gathering
96% of time spent in cars wasted, 20% of cities turned into garages: Waked
Abdellatif Waked, Uber Egypt’s general manager, said that Uber has been operating worldwide for over seven years in 700 cities around the globe. He noted that the service it provides is complementary and does not seek to compete with the public transportation system. He expressed his contentment with the company’s business in Egypt, saying that …
Egypt’s feeding industries to implement automotive industry strategy when approved: experts
The feeding industries are the most important pillar in large industries, such as the automotive industry, according to vice chairperson of the Chamber of Engineering Industries Abdel Moneim El-Kady. He believes that the automotive industry strategy, which is currently being studied by the parliament, will improve the feeding industries. The strategy approves the increase of …
Egypt Automotive Summit urges implementation of industry strategy
This year’s summit began with a moment of silence for the victim’s of Sunday’s Coptic church attack
New customs, tax laws to resolve issues within automotive sector
The industry development sovereign fund gives incentives to the local product before sale and export in order to see a return on the taxes they paid, said Egyptian Tax Authority head Abdel Moneim Matar. The Tax Authority used to collect 30% of the value of a used car, but in the automotive industry strategy it …
Challenges of public transportation, funding solutions top agenda during Egypt Automotive Summit second session
We aim to raise the size of the fleet to 5,000 buses, says PTA
Automotive industry strategy: governmental support, private sector concerns
As the parliament is still reviewing the automotive industry strategy, the private sector has voiced a number of concerns regarding the strategy’s content and implications, while the governmental sector and entities affiliated to the government appear to support the strategy wholeheartedly. Ahmed ElKhadem, managing director of EIM, the agent of Kia motors in Egypt, highlighted …
2017 to witness deflation in car sales, to increase in H2: Ghabbour
The negative impact of the Egyptian pound’s flotation on the automotive sector is not tangible yet, said chairperson of the board of directors at GB Ghabbour Auto, Raouf Ghabbour. He added that the decision reduced the value of Egyptians’ reserves in banks by almost 50%. He believes that the main problem is that Egypt’s economy …
Third automotive summit to unite sector, provide solutions: EAMA executive director
Fixing the price of the customs exchange rate, currency management, and devising a strategy are the company’s main demands
Ministers, business community review means to stimulate local automotive industry in opening session of Egypt Automotive Summit
The executive director of the third round of the Egypt Automotive Summit, Mohamed Aboul-Fotouh, announced several topics which participants will be discussing. Topics on the agenda at the summit include facilitating the export of spare parts, competition with foreign companies, local feeding industry experiments, and the role of banks in financing feeder industry experiments. “We …
Customs tariffs, specifications, strategy are key focus at Egypt Automotive Summit: Bavarian Auto Group chairperson
Farid El Tobgy, the chairperson at Bavarian Auto Group, said the challenges facing automotive companies in Egypt include the shrinking market, the high customs tariffs, and keeping pace with the technological development that the automotive industry has reached around the world. He told Daily News Egypt that the government should reveal its vision for the …
Pound’s flotation creates a competitive price for local products in global markets: chairperson of FEI’s Chamber of Engineering Industries
The Egypt Automotive Summit is a great annual opportunity to exchange ideas and views for the development of the automotive industry, said Hamdy Abdel Aziz, the chairperson of the Federation of Egyptian Industries’ (FEI) Chamber of Engineering Industries. Ahead of the summit, Daily News Egypt sat down with Abdel Aziz to discuss his thoughts about …
Exports, manufacture of components vital issues on the table at Egypt Automotive Summit: MCV executive advisor
Automotive manufacturers are awaiting the chance to export Egyptian products and the elimination of obstacles so as to open new markets, in addition to strengthening the local industry by developing manufacturing components. These are some of the most vital issues the attendees of the third annual Egypt Automotive Summit will be concerned with, said Amr …
Summit discusses sector’s problems with transparency, we are waiting for government to activate recommendations: Brilliance Bavarian Auto general manager
To mark the start of the third annual Egypt Automotive Summit, Daily News Egypt interviewed Khaled Saad, the general manager of Brilliance Bavarian Auto in Egypt, in order to better understand his vision for the summit and the points that it should discuss this year. What do you think of the third Egypt Automotive Summit? …
Automotive sector facing collapse following price hikes: Kayan CEO
The agent is waiting for a serious response from the European side on the new customs tariff policy
Automotive industry must be focused on as a major industry supporting national economy: GB Ghabbour Auto Board of Directors chairperson
Pound’s flotation was necessary, automotive strategy will fix Egypt’s customs issues, said Raouf Ghabbour
Manufacturing of new automotive components will attract investments to automotive sector: Allam
Daily News Egypt conducted an interview with the deputy head of the Transportation Division at the Chamber of Engineering Industries, Samir Allam, on the occasion of the third annual Egypt Automotive Summit scheduled to take place on 13 December. What are the main topics you aim to discuss during the Egypt Automotive Summit? I believe …
Feeding industries are best door for attracting investments to domestic automotive sector: El-Kady
Delay of automotive industry strategy opened the door for other countries in the region to attract investments
Devaluation came on time, solved deferral payment problems due to lack of foreign currency: Nissan
The Japanese company Nissan, one of the top sellers in the Egyptian market, will participate in the third annual Egypt Automotive Summit to discuss the challenges currently facing the Egyptian market and what automotive companies will need from the government. Daily New Egypt interviewed Isao Sekiguchi, the managing director of Nissan Egypt, to understand …
Egypt Automotive Summit is only event that brings all the sector’s parties, government representatives together: El-Shorbagy
Global companies are looking for new markets; attracting their investments requires providing real advantages for them, says sales manager at Fiat Chrysler Automobiles
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 …
3rd Egypt Automotive Summit to discuss automotive industry strategy
International companies will sign supply contracts with feeding industries during the summit’s latest round on 13 December
Automotive industry strategy heads into next phase
The strategy requires manufacturers to submit documents showing the data of cars and their selling prices to consumers
Third Egypt Automotive Summit to discuss automotive industry strategy on 13 December
International companies to sign supply contracts with feeding industries during the summit’s latest round
Soaring car prices to continue throughout November
Ongoing dollar shortage and high exchange rates driving factors in price hikes