The automotive market is one of the concerned parties that will actually match the new custom dollar price.
According to the General Supervisor of the Automotive Market Information Council, Khaled Sa’ad, European-manufactured vehicles will not be affected much by this decision, as these kinds of vehicles will be custom-free by 2019, following the application of the final portion of duty exemption according to Egypt-EU Association Agreement.
The only impact will be on services related to these brands, which will not exceed a 3% increase it their price.
However, other imported vehicles will be affected, as their price will increase by between 15% and 20% due to the new custom dollar price increase, and attributed to all related services as well.
“This decision is necessary in this stage of Egypt’s economic reform policy implementation, in order to protect and increase the domestic industry, and the automotive market welcomes the new direction”, declared Sa’ad.