In spite of the stability of the US dollar exchange rate at about EGP 18.5 over the past few days, the future of the automotive market in Egypt is still uncertain. Car merchant Mahmoud El-Wakeel said that although he has worked in the sector for over 25 years, the future of the automotive market has for the first time become uncertain. Head of Brilliance brand at Bavarian Auto Group Khaled Saad demanded the government bodies concerned about the sector to take into consideration what the Egyptian automotive market is suffering in the current period. He said also that Brilliance parent company, for example, entered the Egyptian market with the aim of establishing an export base and targeted to establish a factory for the local market and thus exporting to Africa through the COMESA treaty. 2017 has witnessed a price increase in about 131 models from all the famous brands in the automotive market, compared to December’s prices.

Source: Daily News Egypt January 17, 2017 07:16 UTC