International Courant
Based on the Ashraq Enterprise web site, costs of 18 automotive manufacturers within the Egyptian market have fallen by as a lot as 23 % for the primary time in two years for the reason that Egyptian pound went public.
This comes after two years of consecutive worth will increase as a consequence of a suspension of imports and a lower in provide because of the problem of acquiring international forex, which noticed costs rise fivefold prior to now two years.
Ankush Arora, CEO of Mansour Automotive, the unique distributor of a number of manufacturers in Egypt, instructed Al Sharq Al Awsat that the Egyptian automotive market has been considerably affected after the IPO as the costs of most manufacturers have witnessed a decline starting from 14 % as much as 20 %.
He added that many of the automobiles within the Egyptian market are absolutely imported or regionally assembled, so the steadiness of the market after the IPO is beginning to present a optimistic affect that’s mirrored in costs.
Based on a survey performed by Al Sharq Al Awsat, the worth of automotive worth drops ranged between 86,000 and 590,000 Egyptian kilos for 18 manufacturers, together with about 43 2024 fashions.
Foremost worth drops
Costs of French Citroen automobiles have fallen by 19.5 %, or as much as 500,000 Egyptian kilos per automotive, whereas costs of Korean SsangYong automobiles have fallen by 22.7 %, or 590,000 Egyptian kilos, the Ashraq Enterprise- reported web site.
Al Sharq Al Awsat’s analysis confirmed that the costs of Chinese language Geely automobiles have fallen by 7 %, or 110,000 Egyptian kilos, and the costs of JAC automobiles have additionally fallen by 16.6 %, or 200 Egyptian kilos for a few of his fashions.
Costs of German Opel automobiles have additionally fallen by 20 %, or to 525,000 Egyptian kilos, whereas Chevrolet Captiva costs have fallen by 15 %, or 270,000 Egyptian kilos, and Chinese language Geely costs have fallen by 14 %.
MG costs have additionally fallen by 18 %, Peugeot costs by 17.5 %, some Suzuki fashions by 12 %, Fiat costs by 20.9 %, Seat costs by 18 %, Toyota and Cobra by 10 %, Ford costs by 6.8 %, Chery costs by 14.6 %, and Hyundai Accent RB costs by 16.4 %.
Costs of 18 automotive manufacturers in Egypt have fallen by as a lot as 23% for the reason that IPO
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