Chinese car companies hike prices by 20% in Egyptian market

An unnamed Chinese homegrown auto brand sent a group of its domestic dealers to Egypt for business exchange visits recently, Chinese dealers were surprised at the brand’s high recognition and booming sales in the North African market. Just like many popular imported models in Chinese market, price increases are quite common for the brand in the Egyptian market. Prices were inflated by as much as 20% in some case.

The soaring exports of China’s homegrown auto brands are offsetting their domestic sales decline, with many Chinese homegrown auto brands are doing recently is to lower down their domestic sales target and raise the export target. As exports are growing rapidly, many Chinese automakers are planning overseas expansion, with many companies aggressively attacking high growth markets in developing areas.

Chery’s wholly-owned plant in Brazil has started construction, and will start production in September 2013. JAC plans to invest $600 million in opening a plant in Brazil. Lifan has launched its Iraqi plant.