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Egypt’s automotive market faces new wave of cuts - Daily News Egypt

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Egypt’s automotive market faces new wave of cuts

Car prices slashed across the sector as automotive sector feels the pinch in consumer pockets


A new wave of cuts has hit Egypt’s car market, which is already suffering s one of the sectors most affected by the ongoing global coronavirus (COVID-19) pandemic. 

Japanese luxury car brand, Lexus, has become the latest company to offer discounts, as it announced a new price list. The price of the first category of the LX750 will be reduced by EGP 350,000 to EGP  5.25m, whilst the price of the second category also decreased by EGP 350,000 to EGP 5.45m.

The price for the first category of the LS model decreased by EGP 400,000 to EGP 5m, with the price of the second category decreasing by EGP 450,000 to EGP 5.7m. The price of the third category decreased by EGP 500,000 to EGP 6.25m.

The price of the ES model’s first category decreased by EGP 150,000, to a price of EGP 2.5m, with the price of the second category decreasing by EGP 180,000 to EGP 2.65m.

GB Ghabbour Auto, the local agent for Hyundai, Mazda, Chery and Geely, announced the price list issued by the Korean brand, which included price reductions on the Elantra HD and AD models.

Following reductions of EGP 10,000 for the different groups, the first category of locally assembled HD Elantra is now priced at EGP 230,000. The second category now stands at EGP 237,000, and the third category at EGP 243,000. The fourth and fifth categories are now priced at EGP 250,000 and EGP 258,000 respectively.

The group also lowered the prices for the Hyundai Elantra AD model by EGP 10,000, with the first category now priced at EGP 290,000, the second category now priced at EGP 300,000, and the third category at EGP 322,000. The fourth category is now priced at EGP 335,000, the fifth category at EGP 355,000, and the sixth category is at EGP 373,000. The seventh category is now priced at EGP 423,000.

Al Mansour Automotive Company, the exclusive agent for Opel, MG and Chevrolet brands in Egypt, has approved a price reduction of between EGP 30,000 and EGP 40,000 on all category models of the Chevrolet Malibu.

Under the new pricing, the first category of the Chevrolet Malibu now stands at EGP 340,000, a decrease of EGP 30,000 compared to April prices. The second category declined by EGP 40,000, to the official price in May of EGP 360,000.

The third category, which is a highly equipped family sedan, dropped by EGP 30,000 from its previous official price, to EGP 400,000 pounds.

Al Mansour Automotive Company, Opel’s Egypt agent, announced the price for the Astra sedan model would be reduced by EGP 21,000, to EGP 300,000.

Kayan Egypt, the exclusive agent for Seat in Egypt, launched a special EGP 20,000 discount offer on its 2020 Lyon model to EGP 369,000.

The Egyptian Automotive and Trading Company, Volkswagen’s agent in Egypt, announced a reduction in its multi-sport utility vehicle prices, with discount rates ranging from EGP 19,000 to EGP 24,000.

The price of the first category now stands at EGP 510,000, or a reduction of EGP 19,000, with the price of the second category now standing at EGP 560,000, or a reduction of EGP 19,000. The price for the third category now stands at EGP 615,000, a decrease of EGP 24,000.

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https://dailyfeed.dailynewsegypt.com/2020/05/19/egypts-automotive-market-faces-new-wave-of-cuts/
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