Latest in Automotive Highlight
Latest in Automotive
Fiat-Chrysler launches Jeep Renegade
Six new models in the Egyptian market by 2018, says Ratynski
Business News holds preparatory meeting for Egypt Automotive
Summit discusses sector challenges with government’s and companies’ participation
Core-brand VW sales hit by pollution scandal
German carmaker Volkswagen’s core brand has taken a blow from the company’s pollution scandal. Sales figures in October dropped, although they remained stable in the US where the scam was first disclosed. Volkswagen announced Friday sales of it cars bearing the VW badge decreased by 5.3 percent in October, with the carmaker shifting 490,000 units …
Careem acquires funding worth $60m
Abraaj Group is a lead investor in the new deal for the application-based car service provider
Interior Ministry cooperates with Autocool to air-condition detention cars
We demand installation of 24 seats and good ventilation system in cars, says human rights department
Automotive market faces accusations
Figures raise the question: Is the market experiencing a fake crisis?
VW scandal risks knock-on effect for Portugal
The VW plant Autoeuropa, one of the main employers in the Portuguese town of Palmela, is set to expand thanks to government investment. But the recent VW emissions scandal in Germany makes for an uncertain future. The VW plant Autoeuropa is one of the main sources of employment in Portugal. It is also one of …
Economic court fines Suzuki agent EGP 10,000
Modern Motors has been marketing false prices, says head of Consumer Protection Agency
Toyota profits surge on weak yen
The world’s top automaker was able to log higher net profits in the first half of its fiscal year even as car sales declined in most regions. A weak yen has made Toyota more competitive abroad. Toyota said Thursday its net profit had risen nearly 12 percent to 1.258 trillion yen (9.47 billion euros) in …
Moody’s lowers Volkswagen’s credit rating
US ratings agency Moody’s has downgraded VW’s credit rating in response to the German carmaker’s deepening pollution scandal. Due to the latest revelations, the agency’s outlook for the company was negative. Moody’s hit embattled German auto maker Volkswagen Wednesday with a credit rating downgrade, saying the company’s reputation and earnings were at risk from the …
Car sales continue to decline by 18% in September
Chevrolet tops car sales with 47,200 units sold
209,000 cars sold worth of EGP 24bn over nine months
New instructions to sell used cars do not concern general public: Sultan
Tax Authority’s decision based on inconsistencies in tax treatment between industrial companies and used car dealers
Bavarian Auto launches sixth generation of BMW 7 Series
The Bavarian Auto group, the sole importer of BMW and Mini in Egypt, launched the sixth generation of the BMW 7 Series. The cars are provided with headlights that operate via laser techniques. The rear-seats are equipped with BMW’s famous Connected Drive system, through the Touch Command system. The system operates on Samsung tablet …
Bavarian opens new branch for MINI Cooper 3S in New Cairo
We target sales growth by 19% by end of 2015, says El-Tobgy
Bavarian opens new branch for MINI Cooper 3S in New Cairo
We target sales growth by 19% by end of 2015, says El-Tobgy
GB Auto to be sole distributer of Chery-Speranza in Egypt
Company acquired distribution rights and after-sales service; Aboul Fotouh to assemble only
Fiat-Chrysler makes a killing from Ferrari IPO
After the US-Italian car giant brought a 10-percent stake of the legendary racing car brand to Wall Street last week, it has now announced gross proceeds of close to a billion dollars from the share issue. After closing the book on the Ferrari initial public offering (IPO) on Monday, Fiat-Chrysler Automobiles (FCA) said the sale …
Sedran appointed new VW chief strategist
Crisis-hit Volkswagen has hired top strategy executive Thomas Sedran from its competitor Opel. It is the latest major personnel change in the wake of a scandal over the company’s cheating on diesel emissions tests. Volkswagen announced Monday that 51-year-old Sedran would take over responsibility for the company’s corporate strategy from November. He “will report directly …
Automotive industry strategy presented to cabinet
Minimum percentage of local component pushed to 60% over the next eight years: Abdel Aziz
Nissan Egypt offers locally manufactured Sentra for EGP 139,900
Nissan Egypt targets competing with its counterpart Toyota, Corolla in particular, as they are similar in terms of design, category, and internal features.
Toyota beats VW sales
Japan’s Toyota has reported its nine-month sales figures, showing that the company shifted more vehicles than German rival Volkswagen. Both firms had to announce massive recalls recently, albeit for different reasons. Toyota raced back to the top of the global sales table after logging 7.498 million vehicles in the first three quarters of 2015, the …
Chery vehicles added to GB Auto’s portfolio
AF Automotive will continue to assemble Chery models at its Egyptian facilities, while GB Auto will be exclusively responsible for order planning, marketing and distribution.
GM’s Opel denies violating EU emission standards
General Motors’ subsidiary has vehemently denied a report by a German environmental lobby group claiming excessive emissions have been found in one of the carmaker’s models. Opel called the claim ‘wrong and unfounded’. Opel insisted Friday it had by no means violated European environmental standards. The message came in response to researchers claiming to have …
Daimler raises money to keep refugees warm
German automaker Daimler has donated more than 600,000 euros ($667,000) to help the German Red Cross find suitable housing for the hundreds of thousands of refugees who have poured into the country before winter sets in. The company said Friday that employees across Germany had chipped in 300,666 euros during a month-long donation drive and …
Egypt is capable of manufacturing automotives: Minister of Industry
Egypt seeks to develop an integrated incentive system to encourage global-producing companies to manufacture their products in Egypt, says Qabil
Daimler sales unaffected by VW pollution scandal
German auto maker Daimler has reported record sales for the third quarter, lifting operating profit by almost a third year-on-year. The results showed the firm unharmed by rival VW’s pollution scandal. Germany’s Daimler, maker of the luxury Mercedes brand, said Thursday it had logged record unit sales in the July-September period, shifting 720,000 cars worldwide …
Another VW motor may have cheating device
Embattled German carmaker Volkswagen has said another one of its diesel motors may have had software installed to deceive emissions tests. Until now, only one type of engine had been affected. On Thursday, VW said it was checking whether earlier versions of its EA 288 diesel engines had also been outfitted with the same kind …
VW halts European sales of rigged cars
German carmaker Volkswagen has announced it has stopped the sale of new vehicles in the EU fitted with the emissions-cheating software. The cars in question will first be fixed and then put up for sale again. Volkswagen said Wednesday it had completely halted the sale of vehicles in the EU which came equipped with software …
Starbucks, Fiat to repay illegal tax advantages
US coffee retailer Starbucks and the financing arm of Italian carmaker Fiat must repay several million of euros in illegal tax advantages. The ruling is part of an EU clampdown on corporate tax avoidance. EU Competition Commissioner Margrethe Vestager announced Wednesday that tax rulings which “artificially reduce a company’s tax burden” were illegal because they …
Toyota recalls 6.5 million vehicles worldwide over power window glitch
Japan’s automaker has announced another mass recall, in a move that could further damage the company’s image. Toyota had already recalled millions of vehicles over an airbag defect. Toyota, the world’s largest car company, announced on Wednesday it was recalling 6.5 millions vehicles around the world after discovering a problem with the power windows. Around …