Company acquired distribution rights and after-sales service; Aboul Fotouh to assemble only
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AF Automotive will continue to assemble Chery models at its Egyptian facilities, while GB Auto will be exclusively responsible for order planning, marketing and distribution.
Plans to receive 4,000 Mazda cars instead of 3,000 cars in 2016 to meet the growing needs
Automotive company undertakes negotiations in cooperation with major supplier to commence with establishing factory within a month
The political track is promising, but the government pampers the people with subsidies
Company took quick steps to put tuk-tuk in Iraq, despite security unrest
Company will open two new centres, launch S3 centre in Alexandria
President of the authority indicates that the remainder of the authority’s needs for buses will be covered from the state budget
The Ministry of Trade and Industry announced the 12-month ban on fully built-up units alongside a three-month prohibition on the import of components.
Reuters- Egypt’s proposed ban on the import of motorbikes and three-wheelers, or ‘tuk-tuks’, would have an “adverse impact” on GB Auto, the country’s largest car assembler, the company said on Thursday. Two- and three-wheelers contributed around 13% of GB Auto’s revenues in the first nine months of 2013, according to company data. GB Auto is …
The acceptance of Egypt’s pending IMF loan will have a positive effect on the economy and there will be an increase in tourism and FDI throughout the year, says EFG
By Reuters CAIRO: Egypt’s GB Auto, the top passenger car importer and distributor in the Middle East and North Africa, will reduce reliance on its Egyptian operations and its exposure to a potential currency crisis, the company’s chief executive said. A year of political and economic turmoil since a popular uprising in Egypt sent inward investment …
By Yasmine Saleh and Tom Pfeiffer / Reuters CAIRO: Egyptian vehicle distributor GB Auto reported an 8 percent rise in its fourth-quarter net income on Monday as soaring sales of its two and three-wheeled motorcycles offset a car market weakened by the recent political turmoil. The company said in a statement posted on its website that …
CAIRO: Egypt’s GB Auto said on Sunday its third-quarter net income rose 25 percent year-on-year to LE 89.0 million ($14.9 million), but said the return to growth may be temporary because of a volatile automobile market. The firm, Egypt’s biggest listed automobile assembler, said net income was LE 71.4 million in the same quarter of …