Latest in Tag: GB auto Highlight
Latest in Tag: GB auto
GB Auto prepares to sell 45% of GB Lease to Chimera for EGP 855m
Baker Tilly sets fair value of GB Lease stock at EGP 2.6
GB Auto sells 7.5% of MNT Investments to UAE’s Chimera
GB Auto said last November that the target shares would be sold at a value of $60m, or $71.3m if specific conditions were met.
GB Auto plans to invest 2022’s EGP 550m CAPEX budget on complete knock-down lines
Passenger car market in Egypt to grow by 10-15% in 2022, GB Auto expects
GB Auto reports resilient revenue performance, strongest bottom-line to date
Past year has tested resilience of GB Auto’s business model, strength of its market position, says CEO Raouf Ghabbour
Car sales jump 26.6% in 2020, GB Auto records robust volumes in Q4 of 2020
Automotive sales reach 213,200 units in 2020, registering strong surprise recovery
GB Auto eyes spending EGP 260m as capex during 2021
Company considering selling minority stakes in NBFI companies to strategic investors
Ghabbour Auto’s Drive securitisation deal to result in EGP 100m gain
Drive, Ghabbour Auto’s (GB Auto) consumer finance and factoring subsidiary, has completed its second securitised bond offering, amounting to EGP 892m.
GB Auto’s Rseedy obtains first e-wallet licence in Egypt
The entity will work in cooperation with saib Bank, with an announcement regarding the new services expected to be made this week. As previously announced, GB Auto aims to integrate Rseedy within its current NBFS platform, as the company recently also obtained licences for nano-finance, micro-finance, and consumer finance services
Drive receives preliminary approval for financing licence
These activities will run beside the company’s auto loans segment, to widen and deepen GB Auto’s exposure to various market segments.
Removal of safety features to reduce prices stirs controversy in Egypt auto market
We launched cars without airbags to meet all customers’ needs, says GB Auto
GB Auto becomes authorised distributor of Goodyear tyres in Egypt
Regarding the near-term financial impacts, Naeem Research expects the new agreement will contribute an incremental EGP 200m in revenues to Egypt’s tyre segment, but with higher margins as it is a premium product.
Egypt’s GB Auto, China’s Higer sign deal for local bus assembly franchise
Higer and GB Polo expected to drive localisation of electric, diesel, and CNG bus production
EFG Hermes, GB Auto complete majority acquisition of Tokio Marine Egypt Takaful
Acquisition completes two companies’ full suite of NBFI services, including leasing, microfinance, Fintech, and digital payments
GB Auto profits jump in H1 2020, despite fall in revenues
In a statement on its consolidated financial statements sent to the Egyptian Exchange (EGX), the company said that its sales in H1 of 2020. It added that this reflects a decrease of 14.1% to EGP 9.9bn compared to the EGP 11.5bn recorded last year.
GB Auto sees 3.1% decline in March market shares
Company’s March market share declines to 17.2%, passenger car sales rose 16.5% y-o-y, but decline 10.4%
GB Auto sales slow down due to temporary licencing suspension
Company freezes all planned capital expenditures for 2020
Unfavourable regulatory developments hamper GB Auto’s profits
Financing business bottom line hits all-time high
GB Auto to discontinue Hyundai representation in Iraq
Management decides to continue operations until mid-2020
EFG Hermes, GB Auto to acquire majority stake in life insurance Tokio Marine Egypt Family Takaful
Under agreement, which is subject to regulatory approval, EFG Hermes Finance and GB Capital will each own 37.5% of the company.
GB Auto aims to sell 5,000 Arrizo cars, introduce new models in 2020
Consumer is key in digital transformation process; most important preparations are raising awareness and e-signature: Valavanis
RG Investment merged into GB Auto as part of restructuring
GB Auto revenues fell 6.3% y-o-y to EGP 5.65bn in 2Q19, with EGP 8.9m net losses
DNE tour of GB Auto Prima plant
Production capacity of factory reaches 50,000 units per year
Hyundai Motor offers its clients a chance to attend the World Cup
Hyundai, through its dealership Ghabbour Auto (GB Auto), has launched a special opportunity for anyone wanting to test drive a Hyundai sedan to enter a big draw to win the grand prize: a trip to Russia to watch a World Cup match and visit Moscow and enjoy its most famous tourist attractions, such as the …
GB Auto’s net debt to reach EGP 4.34bn by end-2018: report
The company likely to suffer slower recovery in passenger car business segment
GB Auto not ruling out stake sale to investors in private placement
The company considers all investment opportunities, says Raouf Ghabbour
Car prices to see new increase when Egyptian pound is floated or devalued: GB Auto
Fluctuations in exchange rates have pushed tyre manufacturers to monitor situation before concluding partnership to establish the factory
Ghabbour rules out possibility of acquiring more dealerships in current period
GB Auto owns the dealerships of Hyundai, Mazda, Geely, Chery, and Karry
GB Auto business unlikely to be impacted by VAT: Ghabbour
Banks allocated just 5% of foreign exchange for company’s needs during Q2, says managing director
GB Auto tops Chinese car sales with 97.3% of the market
GB Auto topped the list of bestselling Chinese cars in the Egyptian market with 97.3% of the total Chinese-manufactured auto market. The competition over the market share was between Geely and Chery. The two brands, Geely and Chery, made sales of 4,875 units over the first half (H1) of 2016, out of a total of …
Chery takes first steps with GB Auto by raising its prices
Geely decided to raise the price of Emgrand by EGP 9,000, and Pandino and Pandino X by EGP 3,000 each. Chery, and its agent in Egypt GB Auto, raised the price of Envy by EGP 7,000 and Tiggo by EGP 9,000. Brilliance and MG kept their prices unchanged from May through June. A previous tour …