The Egyptian car market has seen a decrease in the quantities of vehicles offered during July due to the negative repercussions of the novel coronavirus (COVID-19) crisis.
The decrease in supply comes off the back of some agencies stopping the (...)
On the back of the novel coronavirus (COVID-19) outbreak and its negative impact on global economies, Egypt witnessed last week the fastest and highest appreciation in its local currency against the US dollar since the beginning of the year. (...)
The used car market has ground to a halt due to the suspension of notary office services, according to Osama Abu Al-Majd, Head of the Egyptian Automotive Dealers Association.
Consumers abstained from used car purchases whilst the suspension of (...)
Egypt's automotive sector is revving up for an anticipated comeback in the near future as car licensing services and notary offices resume following coronavirus (COVID-19) closures. But the windshield remains blurry as the crisis potentially (...)
Egypt's Ministry of Interior has announced resumption of car licensing, starting 3 May, after almost a month and a half of suspension that caused a major setback in the auto market during March and April. Although it was part of precautionary (...)
An official in the General Directorate of Traffic has denied rumours that traffic units nationwide have resumed new vehicle licensing. The source confirmed the directorate's commitment to implementing the state's precautionary measures due to the (...)
The economic damage caused by the ongoing coronavirus (COVID-19) pandemic is commensurate with the number of the potentially deadly disease victims, according to economists. They say that this situation has caused unprecedented economic stagnation (...)
The Central Bank of Egypt (CBE) is to put in place penalties on car dealerships that ignore the financial inclusion programme and use cash transactions rather than electronic payments.
CBE Governor Tarek Amer said fines will be imposed to curb cash (...)
Many consumer finance companies have complied with the Central Bank of Egypt's (CBE) decision to postpone credit entitlements, including consumer loans to institutions and individuals, for six months, while others believe they're not obligated to (...)
The automotive sector has been affected by several government decisions in recent weeks against the negative repercussions of the coronavirus.
The Central Bank of Egypt (CBE) decided to reduce interest rates by 3% to support various sectors and (...)
The negative repercussions of the coronavirus, which turned the world upside down, continues and more countries take preventive steps to curb further virus spread.
The Egyptian government began taking many precautions to limit the spread of the (...)
A few days ago, President Abdel Fattah Al-Sisi directed the government to put a plan for localising the automotive industry, and since then the sector has started to present proposals and demands to the government to take them into consideration (...)
Egypt's car sales increased to 13,873 units in January 2020, compared to 11,467 units in January 2019, a growth of 20.98%, according to the Automotive Market Information Council (AMIC).
It can be seen as a good year start for the car market similar (...)
Khaled Saad, Secretary General of the Egyptian Association of Automobile Manufacturers, stressed the need to start localising the auto industry to keep pace with the international auto industry, stressing the need to set broad terms that will usher (...)
The price decline of Skoda models in Egypt can be attributed to the company's desire to expand and increase its market share through attracting new segment of consumers, said Nader Nabil, Skoda Egypt Brand Director at Kayan Egypt for Trading and (...)
A state of worry controls agents and dealers of cars imported from China after the spread of the Corona virus from Wuhan, China, which resulted in the suspension of many businesses inside the country. International car companies decided to withdraw (...)
Al-Mansour Automotive group is expecting the Egyptian automotive market to grow by about 15% in 2020 versus 2019, according to Ankush Arora, chief operating officer (COO) at Mansour Automotive.
“As the economy continues to improve, and that the (...)
The automobile market is witnessing fluctuations and instability with the eliminaion of customs duties on Turkish-origin cars according to the free trade agreement between Egypt and Turkey, which started discounting cars from South Korean, Japanese, (...)
Recently, imported European and Turkish cars coming into Egypt have become exempted from customs, reviving a sales movement in the local market. However, this may not be the case for other brands, seeing that tax free cars from Europe and Turkey are (...)
Drive, GB Capital's factoring subsidiary, provides its services to a diversified client base, ranging from business-to-business (SMEs) to business-to-consumer (retail) covering all segments of society, with a focus on auto finance, whether new or (...)
The Egyptian car market witnessed a clear change in the pricing of Turkish cars, after activating the last stage of the Free Trade agreement with Turkey, under which all products exchanged between the two countries shall be free of customs. So, all (...)
Mwasalat Misr for mass transport has held a roundtable to discuss the company's current services and future expansion plans in the Egyptian market.
Hisham Taha, CEO of Mwasalat Misr, said the company started its activities at the beginning of 2018 (...)
CEO of Volvo Europe, the Middle East, and Africa, Jesus Fernandez de Mesa, paid a visit to Egypt recently to inspect the general state of the brand, and attend the launch of the XC40 model in the country.
From the topics that Mesa tackled was the (...)
The car market is anticipating the impacts of eliminating customs on Turkish-origin cars, as part of the Free Trade Agreement between Egypt and Turkey.
Many wonder about the expected reduction in the car prices, in addition to whether the agreement (...)
Chery Egypt introduced the locally modified Tiggo 3, which the company has made several improvements to suit the Egyptian consumer and satisfy all his wishes.
Design
Projection-type black headlamps are imposing and elegant, characterized by (...)