Car prices in the local market witnessed huge changes in September compared to the beginning of November 2016, before the Central Bank of Egypt (CBE) decided to float the local exchange rate.
Daily News Egypt conducted a survey to find that price changes ranged from 9% to 105% in some models, and Toyota models came in the lead with a rise of 105%.
The car market witnessed also a significant drop in sales of almost 50% due to the decline of purchasing power in Egypt.
The survey included Opel, Chevrolet, Kia, Mitsubishi, Mercedes, Geely, Renault, Ford, Toyota, Chery, Nissan, Hyundai, and BMW.
The German carmaker Opel increased the prices of its cars by 16%-52% since the flotation, adding EGP 45,000 on the price of Astra to reach EGP 315,000, as well as EGP 50,000 on Corsa, EGP 75,000 on Insignia, EGP 130,000 on Cascade, EGP 119,000 on Adam, EGP 54,000 on Mokka, and EGP 59,000 on Meriva.
The Korean company increased its models’ prices by 7%-42%, as it increased the price of Verna by about EGP 15,500 since November 2016 to reach EGP 153,900. Hyundai also added EGP 41,000 on i10, EGP 68,000 on Grand i10, EGP 34,000 on AD, 15,000 on HD, EGP 27,500 on FX, EGP 32,000 on Solaris, EGP 80,000 on Creta, EGP 74,000 on Tuscon, and EGP 28.5 on i30.
Toyota’s car models have seen a jump in prices ranging from 34% to 105% since November 2016. The Japanese brand also raised the price of the Fortuner model by EGP 470,000.
It added EGP 87,000 on Corolla, EGP 79,000 on Yaris, EGP 146,000 on Avanza, and EGP 255,000 on Auris to settle at EGP 500,000.
Chevrolet moved up the prices of its cars in the past 10 months by 21%-54%. The price of the Aveo surged by EGP 40,000, while it added EGP 36,400 on Optra, EGP 38,400 on Lanos, and EGP 99,000 on Cruise.
Mercedes raised the prices of its cars by 32.3%-72%. It added EGP 255,000 on the price of C180, EGP 165,000 on CLA180, EGP 500,000 on E180, EGP 305,000 on GLA200, and EGP 460,000 on S400.
The German brand BMW raised the price of its models by 28%-62%. It added EGP 120,000 on the price of the I118, EGP 220,000 on the I218, EGP 135,000 on the I318, EGP 200,000 on the I320, EGP 276,000 on the I418, EGP 235,000 on the X1, EGP 360,000 on X3, EGP 440,000 on the X5, and EGP 400,000 on the X6.
The Japanese brand Nissan had the lowest increase in car price during the past 10 months, ranging from 9.7% to 25%, except Juke Platinum whose price rose by 112%, equivalent to EGP 204,000 since last November. The company also added on the price of Sunny, EGP 57,000 on Sentra, and EGP 100,000 on Qashqai.
Kia increased its models by 21%-46% in the period from November 2016 to September. The Korean manufacturer added EGP 154,000 on the price of Carens, EGP 50,000 on Cerato, EGP 88,000 on Rio, EGP 62,000 on Picanto, EGP 119,000 on Soul, EGP 115,000 on Sportage, EGP 450,000 on Carnival, and EGP 80,000 on SID.
The Japanese brand raised the prices of its models by 25%-45.5% during the past 10 months. It added about EGP 500,000 on the price of Pajero and EGP 55,000 on Lancer.
Ghabbour Auto has raised the price of its car Geely Emgrand 7 by about EGP 18,500 since last November to reach EGP 160,000.
Renault changed its models’ pricing over the past 10 months, with an increase of 18%-70%. The French company added EGP 58,000 on Duster, EGP 42,000 on Logan, EGP 149,000 on Megan, EGP 50,000 on Captur, EGP 62,000 on Kadjar, and EGP 44,000 on Sandero, and Stepway.
Ford increased the price of its Fusion by EGP 90,000, while it added EGP 120,000 on the price of Kuga, EGP 68,000 on Focus, and EGP 33,000 on EcoSport.
Chery Ghabbour Auto has raised the price of Chery models, adding EGP 5,500 on Envy and EGP 38,000 on Tiggo.