Latest in Tag: Cars Highlight
Latest in Tag: Cars
Germany’s love affair with the car
From Nazi project to public status symbol, and from East to West – a new museum exhibition highlights the automobile’s place in German society. Here’s a look back at the cars that have become cult over the years.The car has long played an important role in Germany. A new exhibition at the Haus der Geschichte …
39% Decline in car sales in January
Locally manufactured cars decline by 42.5% with predictions of continued decline in February
Price decline is freshening hopes in the automotive market
Decline of prices is an initiative by the merchants that will not last for so long, according to El-Magd
Recession hits sales of second-hand cars; El Nasr models top second-hand market sales
Cars in the price range of EGP 10,000 to EGP 25,000 are in the highest demand
Hyundai, Kia, Chevrolet continue the price race
The month of February again saw price increases of nearly all major car brands
Cars, tea and tourism: Germany’s relationship with East Africa?
Political leaders from Germany and East Africa are set to attend the second German-African Economic Summit in Nairobi this week. But how friendly or cordial are Berlin’s ties with Kenya, Uganda and Tanzania?East Africa, Germany and their political leaders Relations between Germany and East Africa are generally good. West Germany was the first country to …
Parliament’s General Secretariat clarifies EGP 18m expenditures on cars
MP Anwar Sadat accused the parliament of causing financial burden and purchasing outside of the budget scope
Top 10 bestselling cars in first 11 months of 2016
The first 11 months of 2016 witnessed price hikes taking over the market, pushing down sales volumes. Nissan Sunny became the most selling car in 2016, taking the title from Hyundai Verna, which remained on top of market sales across the first nine months of 2016. Nissan Sunny saw sales of 11,200 cars in the …
Nissan New Sunny sells 11,100 cars for EGP 1.8bn
Nissan New Sunny maintained its lead of the sales of Japanese cars in Egypt, achieving sales of EGP 1.8bn between January and February 2016, recording more than 11,100 sold cars, making it one of the most popular Japanese cars in Egypt. Mitsubishi Lancer achieved sales estimated at EGP 1.5bn during the same period, occupying the …
Ghabbour Auto acquires 96.8% of Chinese sales
The monthly report released by the Automotive Marketing Information Council (AMIC) of November revealed that the Chinese car market recorded sales worth EGP 1.8bn, with 12,000 sold units from January until February 2016. Ghabbour Auto took over the market of Chinese cars, representing 96.8% of the market’s sales. The two brands Geely and Chery sold …
Nissan Sunny most sold car in Egypt during 2016
Nissan Sunny has become the most selling car in 2016, taking the title from Hyundai Verna, which remained on top of market sales across the first nine months of 2016. Nissan Sunny saw sales of 11,200 cars in the first 11 months of the year, while Verna dropped to second place with sales of 10,900 …
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
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 …
Soaring car prices to continue throughout November
Ongoing dollar shortage and high exchange rates driving factors in price hikes
Chery and Geely acquire 97% of Chinese-origin sales
Ghabbour Group has managed to keep control of the Chinese automotive market, acquiring 97% of its total sales. The brands Geely and Chery registered sales of 8,981 units over nine months out of a total of 9,255 Chinese-origin units sold. The competition was limited to two brands, Geely and Chery, six months following Chery’s entry …
Passenger cars register EGP 25.4bn in sales over 9 months
The passenger car market saw sales of 110,200 cars over the course of the first nine months of 2016 with the value totalling EGP 25.4bn. Despite a 16.5% year-on-year decrease, Korean brands continue to lead the market in total number of sales. A total of 37,140 cars were sold with the value amounting to EGP …
Egyptian Automotive Dealers Association warns dealers against halting sales, layoffs: chairperson
Flotation of Egyptian pound supports economy, but unfavourable for the auto sector, says Aboul Magd
Pound’s flotation without imports will significantly increase car prices: El-Goukh
Ahmed El-Goukh, the showrooms manager at El-Ezz Motors, said that the decision to float the Egyptian pound without opening the door for imports and the shortage of foreign currency required for imports will significantly increase car prices in the Egyptian market. El-Goukh expected a substantial increase on all car prices, including used cars. Showrooms have …
Will pound’s flotation smooth the path for cars or take them in opposite direction?
In the wake of the Central Bank of Egypt’s (CBE) decision to liberate the exchange rate, opinions of workers in the automotive sector are varied as the impact of this decision on the sector is yet to be seen. Some believe that this decision was long awaited and will eliminate the recent overpricing phenomenon on …
The implications of VAT on the automotive sector
In a seminar for Daily News Egypt, leaders in the automotive sector and tax authority were questioned about what the implications of the value-added tax are on the industry
ECA detects monopolistic practices in Egyptian automotive sector
The Egyptian Competition Authority (ECA) has revealed the presence of monopolistic practices in the Egyptian automotive sector, leading to a significant increase in the prices of several models and categories of cars. ECA is currently conducting a study to examine the automotive sector in order to detect restrictions and different forms of monopolisation practiced by …
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 …
New Sunny tops sales of Japanese models with EGP 997.3m
Nissan’s New Sunny model registered sales of EGP 997.3m in the period between January and July, making it the bestselling model in the Japanese auto industry in the Egyptian car market. Mitsubishi sold 4,361 Lancer EX models at a value of EGP 784m, to place second in sales. Nissan sold 2,687 Sentra models at a …
Brilliance to set up plant for local assembly, integrated service centres at cost of $84m: general manager
The company addressed the government to allocate the required land for the project
Low supplies cause car prices to rise in September
Coinciding with September’s deliveries, further price hikes have swept across approximately 137 models from all the well-known brands in the automotive market, registering record highs as a result of the price increases companies have put in place on newly imported shipments and the low supply offered in the market. These price hikes were registered for …
Car market loses 25% of sales during H1 of 2016
Hyundai, Chevrolet, Nissan are bestsellers
Tyre prices increase by EGP 100-290, rim prices increase by EGP 440
Sales declined by 65%; global companies offer Chinese alternatives
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 …
10 models make up 50% of Egypt’s car sales in 6 months
Daily News Egypt created a list of the 10 top-selling cars in the Egyptian market in the first half of 2016. Those 10 passenger car models sold 33,200 cars from January to June, representing 47% of the total sales of 70,800 units in the six months. The locally manufactured Hyundai Verna topped the list, achieving …
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