Automotive News
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Egypt Auto Finance Market is expected to grow at a CAGR of ~11% between 2023F - 2027F
Financial Penetration is anticipated to increase, while share of down payment will continue to decline backed by improvement in financial access.
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Deadline for customs-free car import initiative not to be extended
According to figures from the Central Bank of Egypt, foreign reserves registered $34 billion in December 2022, down from $40.9 billion in February.
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Egypt establishes its first global city for trade of new, used cars
The global city will include a free zone and a used car sale area, the agency complex area, traffic offices, car showrooms, and services.
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Valeo has invested around €0.5bn in Egypt over the past 10 years
Valeo is a tech company that works in the field of smart mobility with a particular focus on the development of safety on roads.
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Egypt eases rules for tax-free car import programme
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.
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45 Worn-out cars, motorcycles lifted from streets during traffic campaigns
Egyptian President Abdel-Fattah El-Sisi called on the government to end the abandoned vehicles phenomenon in various cities.
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SCZone receives first batch of Mercedes vehicles in logistic park
The partnership with Mercedes-Benz Egypt and its presence within SCZone is an important step to support the auto industry in SCZone.
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Egypt to build electric vehicles
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.
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Emirati Chimera to acquire 45% of a subsidiary of GB Auto at a value of EGP 855m
The percentage of GB Capital in GB Leasing’s capital became 55% after the sale.
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Gov’t interested in car manufacturing, not just assembly
A car manufacturing complex is under construction in East Port Said to lure further investments.
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Project: Automotive Spare Parts
Cairo: Supply of spare parts for tractors
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Auto sales in Egypt plunge 69% YoY in October
The Nissan brand topped the market in October, accounting for 33% of all sales, or around 1,998 sold cars.
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10,000 Egyptian expats registered to import cars without customs
About 10,000 Egyptian expatriates registered over the past 48 hours on the Egyptians Expats Cars app.
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How climate change is changing the automotive market
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.
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Egypt in talks with UAE over bi-fuel pickup cars manufacturing
Actual production will start in the second half of 2023.
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Sylndr, Egypt’s online used-car retailer, raises $12.6m in a pre-seed round
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.
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Egypt, Mercedes-Benz discuss producing electric vehicles locally
Egyptian Minister of Trade and Industry Nevine Gamea and a delegation from Mercedes-Benz Egypt discussed boosting the company’s projects in Egypt.
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Project: Supply of tractor heads (2 Contracts)
Cairo: Supply of tractor heads 4×6 and tank semi-trailers of different capacities under two contracts
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Encouraging electric vehicles in Egypt
Further steps are being taken to expand the use of electric vehicles in Egypt, reports Al-Ahram Weekly.