By: Mohamed Mowafy
Cairo – Mubasher: Car prices are expected to increase in Egypt in the coming period in tandem with the arrival of 2020 car models, the chairperson of the Egyptian Automotive Dealers Association, Osama Aboul Magd, told Mubasher on Tuesday.
Lower supply in the local market due to the drop in the number of exported cars will likely raise the prices of new cars in the next period, Aboul Magd noted.
Traders reduced their car exports due to campaigns launched in January that called for boycotting car purchasing to force traders to reduce auto prices after customs duties on European-made vehicles have been decreased to zero.
Over the first seven months of 2019, the number of car sales in the Egyptian market fell by 6.5% year-on-year to 90,042, compared to 96,381, according to data released by the Automotive Marketing Information Council (AMIC).
