Latest in Automotive Highlight
Latest in Automotive
Car prices slashed across the sector as automotive sector feels the pinch in consumer pockets
Used car sector dealers generally positive despite global pandemic
The car is a continuation of the Grand Coupe concept which has already achieved success in the premium compact vehicle class.
Local assembly does not face global supply chains disruption problems
The pandemic has stymied the global automotive sector, causing disruption to production in factories and reducing the workforce. This has in turn seen global sales slashed by a whopping 51.8% during March.
Company’s March market share declines to 17.2%, passenger car sales rose 16.5% y-o-y, but decline 10.4%
To protect rights of sellers, date of contract should be written down to disclaim responsibility for any violations that may occur after date of transaction
Several factories funnel their production to domestic spare parts market, says Tradeco’s El-Sayad
Temporary commercial plates are currently best replacement for car licences
Reducing production and cutting out certain markets can offset losses: Kayan
The CBE has set a daily limit for cash deposits and withdrawals at bank branches for a temporary period at EGP 10,000 for individuals and EGP 50,000 for companies. The latter are exempt from these limits in case of paying salaries or other obligations.
Drive securitises EGP 425m bonds, and will resume collecting postponed instalments from September
First Italian scooter in Egypt brings sporty feel to daily commute
Shift to digital payments boosts car sales
Alaa El-Sabaa, a member of the Automotive Division of the Federation of Egyptian Chambers of Commerce and Chairperson of El-Saba Automotive, said each bank will have a different lending rate, as each bank determines it according to its obligations to customers in terms of certificates, loans, and so on.
Auto dealers ask CBE to exempt them from decision to disburse car loans
Labib stressed the need to provide the infrastructure for electric vehicles before starting its production in Egypt.
Coronavirus effects on auto market will be clearly seen in 2H20
Egypt has capacity to produce all parts of vehicles except engine and gearbox: EAMA
Lexus Design Award 2020 to finance finalist innovation solutions with $162,000
Sales to increase by 15% in the coming period: El Saba
By giving several incentives that incentivises car manufacture -most notably the abolition of customs expenses on components and parts imported from abroad- local investors can continue to compete with imported cars, he added.
The model’s success in competitions was then immediate: three consecutive “Challenge Europeo Marche,” tens of national championships and hundreds of individual races in every part of the world.
The 3 Series is not just a regular passenger car and also not a means of transportation, as it engraved its name in the motor history generation after generation, with its strong performance and sleek design.
Management decides to continue operations until mid-2020
In terms of imported cars, fiat rose by two places to sixth place in 2019, after being able to account for 5.9% of sales in this category, a growth of 48% compared to 2018.
Saad said there is a need to encourage small and large factories alike in order to promote a synergy that could cover the state’s target production volume, calling for grants and manufacturing incentives for companies and investors.
Negotiations to begin for electric scooter production in 2021
Licencing and setting up charging stations needed before manufacturing
Chevrolet, Hyundai, and Nissan account for 50% of car sales in country