$150 million investments have been pumped into the local market, indicating that the factory acquires the lion's share of these investments.
Financial Penetration is anticipated to increase, while share of down payment will continue to decline backed by improvement in financial access.
According to figures from the Central Bank of Egypt, foreign reserves registered $34 billion in December 2022, down from $40.9 billion in February.
The global city will include a free zone and a used car sale area, the agency complex area, traffic offices, car showrooms, and services.
Valeo is a tech company that works in the field of smart mobility with a particular focus on the development of safety on roads.
Egyptian expats wishing to take advantage of a government initiative to import cars to Egypt free of custom duties and taxes are now not required.
Egyptian President Abdel-Fattah El-Sisi called on the government to end the abandoned vehicles phenomenon in various cities.
The partnership with Mercedes-Benz Egypt and its presence within SCZone is an important step to support the auto industry in SCZone.
President Abdel Fattah El-Sissi told the World Youth Forum in Sharm El-Sheikh that he was personally committed to seeing EVs built in Egypt.
The percentage of GB Capital in GB Leasing’s capital became 55% after the sale.
A car manufacturing complex is under construction in East Port Said to lure further investments.
The Nissan brand topped the market in October, accounting for 33% of all sales, or around 1,998 sold cars.
About 10,000 Egyptian expatriates registered over the past 48 hours on the Egyptians Expats Cars app.
Automotive industry in Egypt is witnessing a much-needed boost thanks to the government’s efforts to create a true dialogue with key market players.
Actual production will start in the second half of 2023.
Sylndr, is set to build trust in the used-car market by providing customers with a hassle-free experience to buy, sell and finance their cars.
Egyptian Minister of Trade and Industry Nevine Gamea and a delegation from Mercedes-Benz Egypt discussed boosting the company’s projects in Egypt.
Further steps are being taken to expand the use of electric vehicles in Egypt, reports Al-Ahram Weekly.
Ezz Elarab Automotive Group — the sole importer and exclusive distributor of Volvo cars in Egypt — recently inaugurated their latest showroom.