Used car sector dealers generally positive despite global pandemic
Latest by Zamzam Mostafa
Local assembly does not face global supply chains disruption problems
The pandemic has stymied the global automotive sector, causing disruption to production in factories and reducing the workforce. This has in turn seen global sales slashed by a whopping 51.8% during March.
To protect rights of sellers, date of contract should be written down to disclaim responsibility for any violations that may occur after date of transaction
Several factories funnel their production to domestic spare parts market, says Tradeco’s El-Sayad
The CBE has set a daily limit for cash deposits and withdrawals at bank branches for a temporary period at EGP 10,000 for individuals and EGP 50,000 for companies. The latter are exempt from these limits in case of paying salaries or other obligations.
Shift to digital payments boosts car sales
Labib stressed the need to provide the infrastructure for electric vehicles before starting its production in Egypt.
By giving several incentives that incentivises car manufacture -most notably the abolition of customs expenses on components and parts imported from abroad- local investors can continue to compete with imported cars, he added.
Saad said there is a need to encourage small and large factories alike in order to promote a synergy that could cover the state’s target production volume, calling for grants and manufacturing incentives for companies and investors.
Licencing and setting up charging stations needed before manufacturing
2021 models most affected by Coronavirus, no increase in car prices in Egypt
As for taxis and public transportations, electric cars will be the ideal choice for them, as they travel long distances daily. In addition, this would save operating and maintenance expense that affect the price of the tariff.
From October to December 2019, an unusual boom prevailed, especially with the decline in the prices of new cars, which was followed by a decline in the prices of used cars.
“Turkish cars” next year’s sales’ password
Turkish car prices expected to fall by 2.5% in 2020
Chinese cars assembly in Egypt is a lifeline before custom exemptions negatively affect Chinese car sales, says Saad
The source said all Egypt’s imports from Turkey will be fully exempted from customs by the beginning of 2020, explaining that only a supreme sovereign body can suspend or cancel such agreements.
Ghattas said that the facility is the first electrical ready facility in the region and equipped with the necessary infrastructure for charging stations, preparing for the arrival of “the first fully electrical Porsche.”
First Egyptian gas-powered micro bus to be revealed next June, says Tarras
The seminar was attended by Chairperson of the Egyptian Automobile Dealers Association, Osama Abou El Magd, and a member of the Automobile Dealers Association, Montaser Zeitoun, and Gamal Askar, an automotive expert.
Value of compensation set according to market value, value of insurance policy
The committee also organises supervisory campaigns nationwide, in coordination with various concerned authorities, to ensure that traders abide by legal controls, and to control cases that constitute harmful practices to the consumer, tax evasion, or other offenses that constitute crimes during the course of their work.
Deputy Head of the Chamber of Engineering Industries (CEI) affiliated to the Federation of Egyptian Industries (FEI), Abdel Moneim El-Kady, said that domestic manufacturing of trucks in Egypt is not a hard task, given that Egypt is fully qualified to manufacture trucks instead of assembling them.
The automotive sector has recently been through several developments and decisions, which led to a leap in the domestic industry. The Egyptian government has taken various initiatives in an effort to create a strong automotive industry.
Electric cars most prominent player in next session of Automech Formula: Khafagy
The General Federation of Chambers of Commerce in Cairo held a conference on Wednesday for the Automotive Division, which was attended by Omar Belbaa, Head of Division and Head of Belbaa Trading and Import Company; Wael Tarek Ismail, chairperson of Al Tareq Company for Trading, Importing and Distribution of Cars; Amr Hassan Sulaiman, chairperson of …
The Bavarian Auto Group (BAG), BMW and Mini’s exclusive dealership in Egypt, became the first brand to launch electric vehicles (EVs) in Egypt. BAG completed the preparations to introduce a new generation of cars to keep pace with international markets. The most prominent preparations made by the group for customers are the completion of the …
Experts and workers in the automotive sector in Egypt had conflicting opinions on the executive regulations of the Consumer Protection Law No. 181 of 2018, which was issued by prime minister in early April. The law provides the right for customers to replace or return any item without giving any reasons or bearing any expenses …
Dershal Company for the manufacture of batteries for electric cars celebrated the conversion of the first diesel car into an electric car on Sunday, at the company’s engineering headquarters in Wadi Houf. The ceremony was attended by the President of Dershal Company, Hassan Dessouky; the Chinese ambassador to Egypt, Song Aiguo; the Chinese Commercial Attaché …