While consumers await the reduction and eventual exemption of customs tariffs on European cars, the automotive market has witnessed a change in the pricing policy for 37 models since the beginning of January.
Within these changes, the prices of 29 models have increased, while those of eight have fallen.
The German brand Opel increased the price of its Astra model by EGP 5,000 to EGP 188,000.
Bavarian Auto Group, the BMW agent in Egypt, amended the prices of 11 models. The price of i520 increased by EGP 25,000 and is now sold at EGP 650,000. The i320 increased by EGP 5,000 to the new price of EGP 465,000. The price of the i218 rose by EGP 8,000 to reach the value of EGP 392,000.
The price of the BMW X3 also increased by EGP 5,000, and that of the 528 rose by EGP 25,000 to reach EGP 750,000. The price of the i120 increased by EGP 4,000 and is now sold at EGP 342,000. The price of the X5 increased by EGP 10,000 to the new price of EGP 995,000.
On the other hand, Jaguar reduced the price of its XF by EGP 30,000 down to EGP 850,000. The Swedish company Volvo increased prices of four models, including the S60, which is now sold at EGP 328,000 after a EGP 20,000 price increase.
Mercedes-Benz has increased the price of E180 by EGP 40,000 to reach the value of EGP 588,000.
Ghabbour Auto reduced the price of Geely X Pandino by EGP 5,000 down to EGP 165,000 for the A class of the model.
Toyota Egypt also reduced the price of its Corolla model by EGP 5,000 down to EGP 194,900. Nissan Egypt reduced the price of the Sunny by EGP 2,000.
Volkswagen increased the price of the Golf by EGP 4,000. Seat increase the price of Leon by EGP 5,000 and reduced the price of Toledo by EGP 2,000.
The Egyptian Customs Authority has announced the exemption of European cars of 1,300 CC capacities or less from customs tariffs within days, according to the EU-Egypt Association Agreement.
An official at the Customs Authority told Daily News Egypt that customs exemptions on European cars with a capacity of 1,300 CC or less will reach 100% in the upcoming days under table four of the agreement, which came into effect in 2008.
The source said table five of the agreement includes cars with capacity of over 1,300 CC, which came into force in 2010, and will continue to see customs cuts until 2019.
After the application of tariff reductions at the beginning of 2016, customs on cars of European origin were brought down to 60%, and full exemptions are expected by 2019.