Chinese carmaker partners with Egypt’s oldest auto manufacturer to produce 25k electric cars annually
Latest by Zamzam Mostafa
The COVID-19 spread also prompted many car dealers to trade spare parts online, where his company, for example, has provided many services that facilitate online purchases such as delivering car parts to homes at a discounted rate.
Recent sales plunge forced companies to reduce traditional marketing campaigns in favour of online marketing campaigns, says Auto Group
More people will buy cars to avoid possible infection in public transport
Used car sector dealers generally positive despite global pandemic
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