Price increases swept across the automotive industry in November, with 162 models across various brands experiencing record price hikes. Automotive companies decided to raise prices in response to the increased cost of importing vehicles and their components after the Central Bank of Egypt decided to float the Egyptian pound, more than doubling the value of the US dollar.
Prior to the flotation, the dollar price at customs was set at EGP 8.80, however it has since risen to EGP 18.
The price increases affected German brands Opel and Volkswagen, Korean brand Hyundai and Kia, American brand Chevrolet and Jeep, as well as Japanese brands Mitsubishi and Toyota. The price increases have continued unabated, with no end in sight.
These are the December prices that Daily News Egypt found for the American, Japanese, Chinese, European, Korean, and Asian brands.
A tour of the American brands showed that prices in December have increased across the board. Ford increased the price of its Fusion model by approximately EGP 30,000, reaching EGP 420,000, and the Kuga by approximately EGP 35,000, reaching EGP 450,000.
Ford also added EGP 25,000 to the price of the Focus, increasing the price of its base model to EGP 250,000, and EGP 29,000 to the Ecosport, raising it to EGP 354,000.
Jeep increased the price of its Renegade by EGP 40,000, raising it to EGP 405,000.
Chevrolet also added about EGP 15,000 to the prices of all the variants of the Avio, EGP 20,000 to the prices of both versions of the Optra, and EGP 10,000 to the price of the Lanos, raising it to EGP 130,250.
In November, Ford raised the prices of both the Fusion and the Kuga by about EGP 40,000, while the Focus’ base model and the Ecosport prices rose by about EGP 31,000.
Jeep had increased the price of its Renegade by EGP 55,000.
Chevrolet had increased the prices of all their Avio variants by EGP 24,500, both variants of the Optra by EGP 27,500, and the Lanos by EGP 20,000.
Lancer EX price increases by EGP 20,000, Fortuner up by EGP 75,000
Japanese brands also increased their prices. Mitsubishi added EGP 20,000 to the price of the Lancer, raising the cost of a base model to EGP 215,000.
Subaru added EGP 84,000 to the price of the Impreza, raising it to EGP 374,000; and EGP 129,000 to the price of the XV, raising it to EGP 449,000.
Toyota also added EGP 75,000 to the price of the Fortuner, raising the price of its 2,700cc version to EGP 530,000, while maintaining November prices for other models.
Mazda also added EGP 35,000 to the price of the Mazda2, raising it to EGP 297,000, and EGP 40,000 to the price of the Mazda3, raising it to EGP 351,000.
Nissan added about EGP 5,000 to the price of the Sunny base model with automatic transmission and the Super Saloon variant, increasing it to EGP 190,000 and EGP 210,000 respectively. The price of the Sentra increased by EGP 12,000, raising the price of its full option variant to EGP 250,000.
Honda did not raise its prices in December.
In November, Mitsubishi increased the price of the Pajero and the Lancer’s base model by EGP 350,000 and EGP 32,000 respectively.
Toyota had driven the price of the 2,700cc Fortuna model up by EGP 10,000, the Corolla by EGP 15,000, and the Yaris by EGP 11,000.
Mazda had increased the cost of their Mazda2 by EGP 40,000, and the Mazda3 by EGP 45,000
Nissan had increased the cost of its Sunny base model with automatic transmission by EGP 35,000, its Super Saloon variant by EGP 37,000, and the full option variant of the Sentra by EGP 38,000.
Subaru, Daihatsu, and Honda did not raise prices in November.
The Chinese manufacturer Geely added EGP 15,000 to the price of the XPandino, raising the price of its base model to EGP 151,500. The Emgrand 7’s cost rose by EGP 17,500, settling at EGP 159,000, and the Pandino’s by EGP 15,000.
Chery added EGP 14,500 to the price of the Envy, raising it to EGP 148,000; and EGP 25,000 to price of the Tiggo, raising it to EGP 212,000.
Brilliance increased the price of the V5 by about EGP 20,000, raising its price to EGP 280,000.
In November, Geely raised the price of both the automatic and manual transmission variants of the Pandino by about EGP 19,000. The XPandino and Emgrand7 also had their prices increased by EGP 19,000.
Chery added EGP 18,000 to the price of the Envy, and EGP 22,000 to the price of the Tiggo.
Brilliance had also increased the price of the V5 by about EGP 74,000.
Prics across 89 European models increase, Fiat drops price of 500 and 500c
The cost of 89 European models increased in December, while Fiat surprisingly lowered the cost of their 500 and 500c models.
Opel added about EGP 30,000 to the price of the Astra, raising it to EGP 300,000; EGP 25,000 to the price of the Corsa, raising it to EGP 240,000; EGP 30,000 to the Insignia, raising it to EGP 420,000; and EGP 50,000 to the price of its Cascada, raising it to EGP 570,000.
Opel also raised the price of the Meriva by EGP 15,000, settling at EGP 275,000, and the Mokka by EGP 15,000, raising it to EGP 330,000.
Mercedes also added about EGP 50,000 to the price of the A200, raising it to EGP 505,000; EGP 58,000 to the price of the B180, raising it to EGP 523,000; EGP 78,000 to the price of the C180, raising it to 699,000; EGP 58,000 to the price of the CLA180, raising it to EGP 568,000; and EGP 73,000 to the price of the CLA200.
Mercedes also added EGP 53,000 to the price GLA200, raising it to EGP 478,000, and EGP 235,000 to the price of the S400, raising it to EGP 2.25m. The E180’s price increased by EGP 90,000.
Volvo increased the price of its S60 by about EGP 50,000, raising it to EGP 568,000, and decreased the price of its S80 by EGP 10,000, lowering the price to EGP 658,000.
Citroën also raised the price of the C5 by an estimated EGP 10,000, raising it to EGP 400,000. The price of the C4 increased by EGP 10,000, reaching EGP 319,900. The price of the Grand C4 Picasso went up by EGP 20,000, reaching EGP 440,000, and the C-Elysee and the C4 Picasso went up by EGP 10,000.
Fiat raised the price of its Punto by EGP 5,000, raising it to EGP 184,000. The price of 500X increased by EGP 20,000, reaching EGP 370,000, while the prices of the 500 and the 500C went down by EGP 10,000.
Renault also raised its prices. The price of the Duster increased by EGP 53,000, settling at EGP 277,000. The cost of a Logan with manual transmission rose by EGP 22,000 totalling EGP 165,000, while the Logan with automatic transmission increased by EGP 27,000 recording EGP 190,000. The French carmaker also increased the price of its Sandero by EGP 29,000, and the cost Sandero Stepway rose by EGP 29,000, with a new price tag of EGP 226,000.
Audi lifted the price of its A3 hatchback by EGP 60,000 to reach EGP 525,000, and the A4 was increased by EGP 76,000. The price of the Q7 was increased by EGP 180,000, costing EGP 2.09m.
Volkswagen also increased the price of the Golf by an estimated EGP 65,000 reaching EGP 425,000, and Tiguan by EGP 70,000 reaching EGP 600,000.
Seat has increased the price of its Ibiza by EGP 45,100 reaching EGP 255,000.
BMW meanwhile increased the cost of their cars by EGP 25,000-100,000. The models affected by the price increase include the I118, I218, I318, I320, I330, I340, I418, I520, I528, I535, X1, X3, X4, X5, and X6.
Peugeot, Jaguar and Skoda maintained November prices.
In a previous survey of the market in November, Daily News Egypt found that prices for 85 models had increased, including Opel, Seat, Fiat, Renault, Volvo, Peugeot, Citroen, Audi and Volkswagen.
Opel had raised the prices of Astra by EGP 25,000, the Corsa by EGP 22,000, the Insignia by EGP 35,000, the Cascada by EGP 40,000, the Adam by EGP 10,000, and the Mokka by EGP 5,000.
Peugeot had also raised the prices of several models. The 2008 rose by EGP 20,000, the 208 by EGP 40,000, the 3008 by EGP 45,000, and the 301 by EGP 38,000. The French carmaker had also increased the price of its 5008 by EGP 30,000, and the 508 by EGP 50,000.
Volvo had added EGP 110,000 to the price of S60 and XC60, while lowering the price of the XC90 by EGP 50,000.
Citroën had lifted the price of the C5 and C4 Grand Picasso by EGP 80,000, the C4 by EGP 60,000, the C4 Picasso by EGP 70,000, the C-Elysee by EGP 55,000, the DS3 by EGP 61,000,and the DS5 by EGP 101,000.
Fiat had raised the price of its Linea by EGP 30,000, the Punto by EGP 33,000, the Tipo by EGP 35,000, the Doblo by EGP 30,000 and the Cobo by EGP 25,000. The price of the 500 increased by EGP 50,000, the 500X by EGP 55,000, and the 500C by EGP 60,000.
Renault had also raised its prices. The cost of a Duster rose by EGP 22,000, the Fluence by EGP 65,000, the Logan with manual transmission by EGP 16,000, and the Logan with automatic transmission by EGP 20,000. The carmaker also increased the price of its Sandero by EGP 34,000, and the Sandero Stepway by EGP 29,000.
Audi had increased the price of its A3 Hatchback car by EGP 50,000 and the A4 by EGP 90,000. The cost of a Volkswagen Golf had risen by EGP 106,000 and the Tiguan by EGP 105,000.
Mercedes, Jaguar, Skoda and BMW had not altered their prices in November.
In December several Korean brands increased their prices. Kia increased the price of the Rio by EGP 65,000, the Picanto by EGP 45,000, and the Soul by EGP 85,000. The price of the Rio, Picanto and Soul First Class variants reached EGP 298,000, EGP 215,000 and EGP 360,000 respectively. The cost of a Kia Sportage increased by EGP 80,000 and the Ceed increased by EGP 50,000.
Hyundai meanwhile increased the price of its 2017 Verna with manual transmission by EGP 15,000, settling at EGP 153,000. The automatic transmission model increased by EGP 20,000, settling at EGP 187,000. The price of the i10 increased by EGP 20,000, with its base model now costing EGP 165,000. The price of the Elantra AD rose by EGP 45,000 with base models costing EGP 311,000, and the Elantra HD by EGP 35,000, settling at EGP 253,000.
Hyundai also added EGP 30,000 to the price of the Accent, raising its starting price to EGP 245,000, and EGP 60,000 to the Creta, raising its price to EGP 345,000. The price of the Solaris increased by EGP 30,000, and the Tuscan’s by EGP 80,000.
In November Kia increased the Carens’ price by EGP 37,000, the New Cerato’s by EGP 17,000, the Rio’s by EGP 25,000, the Soul’s by EGP 36,000, the Sportage’s by EGP 46,000, the Ceed’s by EGP 41,000, and the Picanto’s by EGP 19,000.
The price of Hyundai’s manual transmission 2017 Verna model had increased by EGP 18,000, and the automatic model had increased by EGP 25,000. Hyundai had also added EGP 20,500 to the price of the i10, EGP 22,500 to the Grand i10, EGP 40,000 to the Elantra AD, EGP 35,000 to the Elantra MD, EGP 30,000 to the Accent, EGP 30,000 to the Solaris, EGP 50,000 to the Tucson, and EGP 32,000 to the Creta.
Lada and Proton also increase prices
In December Lada increased Granta’s price by EGP 44,000, settling at EGP 154,000, while Proton increased its Gen 2 and Persona models’ prices by EGP 21,000.
In November Lada had increased Granta’s price by EGP 8,000, while Proton had increased Gen 2 and Persona prices by EGP 34,100.