The car market witnessed a noticeable increase in prices in early June, an average of about EGP 15,500.
The surprise is that the car with the highest price increase is the locally-assembled Hyundai Verna.
Some of the most prominent brands with changed prices are Hyundai, Nissan, Chery, Renault, Geely, Mitsubishi, Chevrolet, and Opel.
The car market had seen fixed prices in most of brands last month, especially Mercedes-Benz, Opel, Chevrolet, Nissan, BMW, Geely, Hyundai, Toyota, and Renault.
Ghabbour Auto (GB Auto) approved an increase in Hyundai prices for June deliveries, ranging between EGP 2,000 and EGP 15,500.
The first category of Verna saw an increase of EGP 11,000, reaching EGP 178,000. Meanwhile, the automatic category saw an increase of EGP 15,400, reaching EGP 210,000. Elantra AD recorded an EGP 6,000 increase, reaching a price of EGP 313,000, in addition to EGP 2,000 to the price of Elantra HD, reaching EGP 354,000.
All Tuscan categories recorded an increase of EGP 5,000, with the basic category reaching a price of EGP 470,000, EGP 495,000 for the second category, and EGP 542,000 for the highest category.
Ghabbour Auto also added EGP 12,000 to the price of Creta, making it start at EGP 412,000, in addition to EGP 4,000 to the price of Accent to start at EGP 458,000.
Hyundai kept the prices of its models fixed in May, maintaining April’s prices.
Opel increases prices of Cascada, Insignia
German brand Opel increased the prices of Cascada and new Insignia by about EGP 10,000 and EGP 8,000 respectively. The first recorded EGP 680,000 and the second EGP 538,000.
Opel kept its prices in May the same as the prior four months.
Chevrolet increased the prices of Aveo, Optra, and Lanos. Aveo FL increased by EGP 2,500 to start at EGP 206,000. As for Lanos, it recorded an increase of EGP 2,000, reaching EGP 162,900. The full-option Optra saw an increase by EGP 1,000, reaching a price of EGP 230,000.
Chevrolet also maintained its April prices for its May deliveries.
Nissan Sunny starts at EGP 211,000
Nissan added EGP 2,000 to all Sunny models, taking the price of the first category to EGP 213,000, the second to EGP 225,000, and the third to EGP 235,000.
It also added EGP 3,000 to the prices of Sentra, taking the price to EGP 298,000.
Last month, Nissan maintained the same prices as April’s deliveries.
French brand Renault as increased the price of Logan by EGP 7,000, taking the price to EGP 187,000. It also added EGP 15,000 to the price of Capture, taking its price to EGP 405,000. Additionally, it added EGP 7,000 to the price of Sandero and EGP 15,000 to the price of Stepway. Renault had kept the prices of its deliveries fixed over the past few months.
EGP 10,000 increase in price of Mitsubishi Eclipse
The prices of Mitsubishi remained steady, except for the new Eclipse, the price of which increased by EGP 10,000 during the first month it was launched in the Egyptian market. The first category of Eclipse recorded EGP 430,000, and the higher category EGP 485,000. Mitsubishi Lancer’s price increased by EGP 10,000 so that the first category’s price starts at EGP 294,900.
GB Auto increases price of Chery
GB Auto, the agent of Chery in Egypt, increased the price of Envy by EGP 6,000 to start at EGP 168,000, and the price of Tiggo by EGP 5,000 to start at EGP 245,000.
Chinese brand Chery kept the prices of April fixed in May’s deliveries.
Geely Emgrand recorded an increase of EGP 6,000 so that its price starts at EGP 189,000.
Geely decided to maintain the prices of its models in May’s deliveries the same as April.
Ford maintains May prices
Ford kept the prices of May fixed in June’s deliveries.
Last month, Ford added EGP 10,000 to the prices of its Fusion and Kuga models.
BMW maintained its prices for the fourth consecutive month, keeping February’s prices in June.
The German brand increased the price of its X models in early February by adding EGP 90,000 to the price of X1, taking it to EGP 850,000, and adding EGP 25,000 to the price of X3, taking it to EGP 1.5m. It also increased the price of X4 to take it to EGP 1.425m. It also added EGP 60,000 to X5, taking its price to EGP 1.85m, in addition to EGP 50,000 to the price of X6 to reach EGP 3.15m.
Toyota Corolla sees no price adjustments
The Japanese brand Toyota maintained the prices of the past four months to remain the same in June’s deliveries.
In February, the Japanese brand added EGP 3,000 to the price of Corolla, taking its price to EGP 355,000 in the highest category, while keeping the prices of January the same for the rest of its models thus far.
Kia’s prices fixed for seven months in a row
The prices of Kia models remained the same for the seventh month in a row. The Korean brand saw leaps in its prices during the period from 2016 until mid-2017, as a result of the decision to liberalise the exchange rate.
Mercedes-Benz prices remain steady for two consecutive months
German brand Mercedes-Benz kept the prices of April in its May and June deliveries.
Mercedes-Benz increased the prices of its models in the local market in April by EGP 20,000-40,000.
The increase came after prices remained fixed for six months, as Mercedes-Benz chose to absorb the price leaps that followed the pound flotation decision.