Automotive News
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CBE halts Egyptian automotive market
Most companies working in the automotive sector confirmed fears that if the situation continues will lead to a new and unprecedented disaster for the automotive sector.
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Giza Automotives expects 5% increase in car market prices
If the dollar exchange rate keeps increasing against the Egyptian pound, the total costs of the domestic and imported cars will increase at the same rate of dollar.
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UberX arrives in Cairo
The mobile App that provides safe, easy and fast transportation in 270 cities is now available in Cairo.
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293,000 cars sold in Egyptian auto market during 2014
We expect to sell 352,000 cars in 2015 with a growth rate of 20%, says Mustafa Hussein.
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Marine Centre International boosts its technical team
Leading Yacht dealer based in Gouna boosts its technical staff to support yacht owners.
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Kuwait's Al-Kharafi to establish Mitsubishi plant in Egypt
Al-Kharafi CEO says his company plans to expand its business in Egypt following a meeting with Egyptian premier Ibrahim Mahlab in Kuwait
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Agreement signed converting 2,000 cars to run on natural gas
210,000 cars running on natural gas, 180 supply stations and 74 conversion centers created between 2012 and 2014.
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Federation of Egyptian Industries submits proposal amending automotive sector taxation
The proposal includes reassessing the sales tax on local and imported cars to boost domestic products
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Suez Canal revenues record $445.5m in December
The Suez Canal is a key source of foreign currency for Egypt
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Aston Martin launches in Egypt
Various models of Aston Martin will be available on order
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Customs confuses automobile market calculations
Pilot prices for European products rang between fact and fantasy, agents complain about excessive customs values.
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Egypt's GB Auto says plans $134 mln rights issue
The rights issue would increase GB Auto's capital to 1.1 billion pounds, the company said in a statement.
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Pirelli signs MOU with Egypt for plant expansion
The investment is expected to happen over a 3-year period and would result in an annual production increase of about 300,000 tyres.
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Egypt's GB Auto profits rise 254% in Q3
Egyptian car assembler and distributor sees surge in profits on highest sales of passenger cars in five years.
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Egypt ministries to use energy efficient cars and appliances
Egypt is suffering from an energy crisis that has worsened considerably since the 2011 uprising.
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Cars prices in Egypt grow amid consumer frustration
Car experts blame high US dollar exchange rates and popular demand for fuel saving cars for increase.
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Mercedes-Benz enhances its program with the Children’s Cancer Hospital 57357
Mercedes-Benz and the Children’s Cancer Hospital 57357 are providing treatment to a bigger number of children saving hospital beds.
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Egypt's GB Auto second-quarter profit more than doubles
Sales of commercial vehicles and construction equipment more than doubled in comparison with the same period last year.
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Egypt's car sales up 56% despite lifting of subsidies
The sales of passenger cars segment in June witnessed a 53% increase compared to June 2013, whilst truck sales surged 73%.
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Egyptian automotive corp to exclusively manufacture Russia Lada Granta
Al-Amal is expected to be the sole manufacturer and assembler of Lada Granta in the Middle East and Africa once it starts production in Q4/2014.