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Brilliance to launch V7 in Egypt during Q1 of 2021, should imports stabilise - Daily News Egypt

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Brilliance to launch V7 in Egypt during Q1 of 2021, should imports stabilise

Company is postponing investment plan for next year, says GM Khaled Saad


Brilliance Bavarian Auto, Egypt’s agent for the Chinese brand Brilliance, plans to launch its SUV V7 Model 2021 during the first quarter (Q1) of next year.

The launch comes amid fears of new restrictions being imposed on the back of a second wave of the novel coronavirus (COVID-19), which is likely to see production factories closed again. The same closures occurred during 2020, as the initial wave of the virus hit and affected economies the world over.

Khaled Saad, Secretary-General of the Association of Automobile Manufacturers and General Manager of Brilliance Bavarian Auto, said the company will proceed with the new model launch in this time period despite the potential lockdown. The move comes in light of strengthening the Chinese brand’s competitiveness among other commercial brands.

Saad pointed to the company’s fear of confusion concerning import movements during the potential second wave of the coronavirus, as auto imports were recently halted for more than three months. This occurred against the background of restrictions imposed by companies and countries to suspend production in factories and shipping operations, due to the virus’ repercussions.

He added that the price of the 2021 V7 has not been determined in the current period, but that the model will be offered with a turbocharged 1,600 cc engine with 202 HP.

Saad also confirmed that the company plans to postpone its investment plan, which was expected to be implemented at the beginning of next year. The delay has been attributed to the negative repercussions of the global health crisis on both the local and international arenas.

He explained that the current time is not suitable for pumping any new investments, to ensure that financial losses as a result of the halt in the sector’s halt in activities are not incurred. This is especially the demand for the purchase of vehicles of various kinds over the past months.

He pointed out that car imports to Egypt from global factories gradually returned after resuming production with a low production capacity.

Saad added that the coronavirus’ repercussions became apparent in the local market through a severely curtailed supply on a range of models. High vehicle prices, put in place by companies and distributors in particular, also affected the local market, as part of the overpricing phenomenon during the past few months.

He said that the continued confusion in the auto market is in part due to price instability and the lack of supply for some brands. This will negatively affect the results of business and sales in the sector by the end of this year.

Topics: Brilliance V7

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https://dailyfeed.dailynewsegypt.com/2020/11/10/brilliance-to-launch-v7-in-egypt-during-q1-of-2021-should-imports-stabilise/
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