Cairo – Mubasher: Ghabbour Auto (GB Auto) signed an agreement to sell cars to drivers of the ride-hailing app Careem, the company’s associate vice president for investor relations, Andre Valavanis, said.
GB Auto will sell Chery Arrizo 5 cars to drivers on installment plans, Valavanis told Mubasher.
This deal will help boost sales of the car assembler and distributor in the coming period, he revealed.
During the first half of 2019, GB Auto’s profit dipped to EGP 113.48 million, compared to EGP 255.6 million in the same period of 2018, including minority shareholders’ rights.
On the other hand, sales increased to EGP 11.5 million in H1-19 from EGP 10.8 million in H1-18.
