Latest in Tag: GB auto Highlight
Latest in Tag: GB auto
GB Auto agrees to manufacture motorbikes and tuk-tuks with Bajaj Auto
The company relocated its Iraqi team to Cairo to reduce fixed expenses until conditions in the Iraqi market improve
GB Auto benefits from declining auto market in augmenting its market share: Beltone
Beltone’s research added that the firm has succeeded in building banking relationships which help it to obtain its foreign currency exchange requirements to import cars collected abroad or automotive components
GB Auto considers expanding in Algeria
The company announced in 2013 that it would enter the Algerian market by signing an alliance with the Algerian group, Rahmouni. At the time, GB Auto said it targets a market share of 4-5%
GB Auto will continue to raise prices to support profit margins: Ghabbour
The company has made progress in building stock to help overcome challenges related to stalled import procedures
GB Auto aims to pump EGP 75m into after-sale services
Hyundai launches Elantra HD locally manufactured for the first time
GB Auto investments suspended due to dollar shortage: Ghabbour
GB Auto’s new investments are suspended due to the dollar shortage, CEO of GB Auto Raouf Ghabbour said Tuesday at the Egypt Automotive summit. He told Daily News Egypt they have been communicating with Indian Bajaj Auto, the technical partner for the group in the motorcycle factory, regarding the local component ratio. Those plans however …
GB Auto launches four-part plan to face dollar shortage
By Mohamed Ahmed GB Auto has announced a four-part plan to deal with the foreign currency shortage and its impact on fair competition with imported vehicles. The plan’s first element concerns flexibility in pricing of products to maintain margins of profit as long as possible, as well as taking precautions against any unexpected developments or …
GB Auto to be sole distributer of Chery-Speranza in Egypt
Company acquired distribution rights and after-sales service; Aboul Fotouh to assemble only
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.
GB Auto aims to sell 6,000 Geely cars during H2 of 2015
Plans to receive 4,000 Mazda cars instead of 3,000 cars in 2016 to meet the growing needs
GB Auto, Ministry of Industry discuss local component percentage in tuk-tuks, motorcycles
Automotive company undertakes negotiations in cooperation with major supplier to commence with establishing factory within a month
$3bn ready to be invested in automotive industry in Egypt if regulatory legislation changes: Ghabbour
The political track is promising, but the government pampers the people with subsidies
GB Auto plans to exit its Libya business
Company took quick steps to put tuk-tuk in Iraq, despite security unrest
GB Auto to feature 2 new cars by year-end: Executive VP
Company will open two new centres, launch S3 centre in Alexandria
UAE to supply Cairo transport authority with 600 new buses
President of the authority indicates that the remainder of the authority’s needs for buses will be covered from the state budget
Motorcycle and three-wheeler import ban will have minimal impact on FY14 profitability: GB Auto
The Ministry of Trade and Industry announced the 12-month ban on fully built-up units alongside a three-month prohibition on the import of components.
Egypt’s GB Auto warns against proposed ban on ‘Tuk-Tuk’ imports
Reuters- Egypt’s proposed ban on the import of motorbikes and three-wheelers, or ‘tuk-tuks’, would have an “adverse impact” on GB Auto, the country’s largest car assembler, the company said on Thursday. Two- and three-wheelers contributed around 13% of GB Auto’s revenues in the first nine months of 2013, according to company data. GB Auto is …
EFG Hermes: Egypt’s economy will grow 3.5% in 2013
The acceptance of Egypt’s pending IMF loan will have a positive effect on the economy and there will be an increase in tourism and FDI throughout the year, says EFG
GB Auto to cut exposure to Egypt market
By Reuters CAIRO: Egypt’s GB Auto, the top passenger car importer and distributor in the Middle East and North Africa, will reduce reliance on its Egyptian operations and its exposure to a potential currency crisis, the company’s chief executive said. A year of political and economic turmoil since a popular uprising in Egypt sent inward investment …
GB Auto says Q4 net rises 8 pct
By Yasmine Saleh and Tom Pfeiffer / Reuters CAIRO: Egyptian vehicle distributor GB Auto reported an 8 percent rise in its fourth-quarter net income on Monday as soaring sales of its two and three-wheeled motorcycles offset a car market weakened by the recent political turmoil. The company said in a statement posted on its website that …
GB Auto says Q3 net climbs 25 pct year-on-year
CAIRO: Egypt’s GB Auto said on Sunday its third-quarter net income rose 25 percent year-on-year to LE 89.0 million ($14.9 million), but said the return to growth may be temporary because of a volatile automobile market. The firm, Egypt’s biggest listed automobile assembler, said net income was LE 71.4 million in the same quarter of …