Latest in Tag: Automotive Highlight
Latest in Tag: Automotive
Fighting in Egypt to expand exporting to new markets: Nassar
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
Industry Committee to conclude discussions on automotive industry law
The Industrial Development Authority will overview the implement of the automotive strategy, says committee deputy
3rd Egypt Automotive Summit to discuss automotive industry strategy on Tuesday
Several ministers, ambassadors, and heads of foreign and local companies will come together on Tuesday for the third Egypt Automotive Summit with the goal of signing supply contracts with the feeder industries. This year, Business News is hosting the third summit through five sessions that discuss market issues during 2016, under the patronage and participation …
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
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
Egyptian Automotive Dealers Association halts imports for November
The Egyptian Automotive Dealers Association held a meeting for leading car importers in which the association announced it would halt the import of cars during November in support of Egypt’s economy. The association met recently, prior to the Central Bank of Egypt’s (CBE) decision to liberate the exchange rate of the Egyptian pound against the …
Mercedes-Benz awaits new automotive strategy to reconsider local assembly: Zorn
Owners of Mercedes can enter authorised service centres at any time, says CEO
Passenger cars achieve EGP 18bn in sales in first 7 months of 2016
The automotive market struggled to move 84,400 passenger car units during the first seven months of 2016, with a total value of EGP 18bn. Korean brands maintained the top spots of the sales market, with the brands achieving sales of 28,300 units worth EGP 5.04bn between January and July, despite the 17.3% decline in sales …
EAFA looks forward to discussing auto industry strategy in parliament: chairperson
We urged the government to adopt an automotive project in cooperation with international companies, says chairperson of EAFA
The Mercedes story
This week has been full of contradictory talk around rumours that Mercedes-Benz Egypt is looking to exit the local market, what the dealership’s stance is on the matter, and whether it will choose to actually exit the market. Mercedes’ position is as it always has been. There have been assurances that Arab investors have already agreed …
Mercedes-Benz reaffirms commitment to Egypt, denies receiving dealership requests
Journalist claims Mercedes-Benz plans to exit local market; company response ensures commitment to Egypt
Passenger cars achieve EGP 14.8bn sales in H1 2016
The automotive market struggled to sell 70,800 units of passenger cars during the first half (H1) of 2016, with a total value of EGP 14.8bn. Korean brands maintained the top spots of the sales market, with the brands achieving sales of 23,100 units worth EGP 4.1bn between January and June, despite the decline of sales …
Car prices on the rise by 2-7% alongside application of VAT
AMIC chairperson demands that the government issue the executive regulations of the VAT law to prevent unreasonable price rises A
EAFA presents automotive factory’s establishment project to presidency
The Egyptian Auto Feeders Association (EAFA) presented a project to the presidency which would see the establishment of a factory for the manufacture of export-ready Egyptian cars, chairperson of the association Ali Tawfik said. This comes after the cabinet and the Ministry of Industry expressed an interest in the project. The project aims to establish …
Volkswagen is global leader in car sales
Diesel emissions scandal? Lawsuits, fines, turmoil at headquarters? Whatever. VW Group sold more cars and light trucks than any other carmaker in the first half of 2016, ahead of close rivals Toyota and General Motors.
Serious concerns dominate Egyptian automotive market following Brexit
The agreement between Egypt and the EU triggered a gradual customs reduction on European cars in 2009, which will continue until 2019, at which time European cars will be completely exempt from custom fees.
Automotive sales retreat at slower pace in first five months of 2016
Hyundai is racing with Chevrolet to lead the market; Nissan comes in third
24% decrease in private cars sales, 27% in buses, and 29% in trucks
29.6% retreat in imported cars sales, and locally assembled cars sales decrease by 20%
Draft law of automotive industry enhancement to be presented to cabinet mid-July
The law aims to enhance the automotive industry and provide the needed elements to help the industry advance
Car sales on the rise in Germany
Car sales in Europe’s power house have increased again in recent months, the German Association of the Automotive Industry has reported. And despite VW’s pollution scandal, diesel cars are in high demand.
Disagreements between partners and US dollar shortage drive sales of EATC down
Problems include the decline of the company’s market share as well as the worsening dispute between MEATCO and Naggar over stocks since 2012
GAFI meets 16 Chinese companies to identify cooperation opportunities
The delegation expressed interest in cooperating in fields such as transportation, the construction materials industry and the electric elevator sector.
Nissan to maintain its 24-hour daily shift: chairperson
The company has plans to expand in Egypt but is waiting for the “right moment”
The automotive sector’s shaky road
The Egyptian automotive market can be described in three terms: “suffered, suffering and will suffer”. All the associated parties in the automotive market, including manufacturers, agents and dealers, are familiar with this situation. Those words reflect the internal state of fear, anxiety and confusion that hovers on the horizon. Nobody knows what awaits tomorrow. None …
Automotive manufacturers claim EGP 27bn tariff contribution in rejoinder to CBE governor’s criticism
Current legislation does not attract large manufactures, says Mostafa
Customs Authority, European automotive companies at loggerheads over tariff exemptions
A source with a German automotive manufacturer claims the company has remained subject to tariffs that were set to be reduced at the start of 2016
Ministry of Industry prepares legislation to regulate issuance of licences and allocation of land
Establishment of five commercial offices in Africa to increase Egyptian exports, says Kabil
AMIC revises projections for automotive sector, expects gains in 2015
AMIC revised projections it published in early December, when it anticipated that the market would close on sales of EGP 29.99bn during 2015, by selling 196,500 units, down by 6% from last year, when the market closed at EGP30bn last year.