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MENAFN: Automotive market fails to control prices of 165 car models in October

Ford and Jeep drive price increase for American cars in Egypt, Chevrolet keeps prices unchanged.
19.10.16 | Interesting article at MENAFN

A new wave of price increases for 165 car models from different brands continued through in October, registering record highs as a result of price increases that companies have put in place on newly imported shipments and the low supply offered in the market.
These price hikes included the German brands Opel and BMW, the Korean Hyundai and Kia, the American Chevrolet and Jeep, and the Japanese Mitsubishi and Toyota.

The new increases come after soaring prices have battered the market in recent months, pushed by the continuous crisis of foreign currency shortage needed for imports and the increase of the US dollar exchange rate in the unofficial market.

A tour of American car brands showed that prices have increased in October. Ford increased the price of its Fusion and Kuga models by EGP 10,000 each to register EGP 350,000 and EGP 375,000 respectively.

Ford also increased prices on its Focus model by EGP 9,000 to reach EGP 194,000, as EcoSport went up by EGP 14,000 to register EGP 294,000.