Egypt car prices jump again as currency pressures, regional tensions shake stability

After a year marked by declining prices, stronger sales, and wider consumer choice, the market has shifted back to caution, as geopolitical developments, particularly the US-Israeli war on Iran, have reignited pressures on import costs and exchange rates.

Prices have already risen across a wide range of models, with increases ranging between EGP 30,000 and EGP 200,000. Some vehicles are now being sold above official prices, reflecting the renewed spread of unofficial markups.

“The return of overpricing has become a clear phenomenon in the market,” said Montasser El-Zeitoun, a member of the Automotive Division at the Federation of Chambers of Commerce, noting that some models are being sold above official prices, and some agents have maintained price stability despite mounting pressures.

He urged consumers to boycott cars that have seen exaggerated price increases and turn to alternatives offered by agents who have reduced profit margins to support market stability.

El-Zeitoun said the current increases are economically justified, linking them to “the rise in the dollar, the impact of the global crisis, and the war in the region, in addition to the risks facing maritime shipping,” stressing that the market’s heavy reliance on foreign currencies means exchange rate movements directly affect final prices.