The director of corporate finance in GB Auto, Menna Sadek, said that car prices are expected to see a new wave of increases when the Central Bank of Egypt (CBE) decides to devalue or float the Egyptian pound. GB Auto has curbed this situation since the crisis started through directing all its liquidity to push operations forward. As for the agreement GB Auto signed with Careem, Sadek said that GB Auto is increasing the rate of use of Careem’s cars, which reflects the increase in the sales of cars of which Careem contracts with. That is why GB Auto decided to conclude a partnership stipulating to grant offers to those who buy cars in order to work for Careem. She added that GB Auto follows the policy of giving offers to distributers who register good sales rates.

Source: Daily News Egypt October 22, 2016 15:22 UTC