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" automotive"

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Business - Markets & Companies
4/9/2024 6:22:51 PM
Automotive experts say the US dollar’s recent depreciation in the parallel market has profoundly affected the car industry in Egypt, significantly reducing prices by approximately 20 percent.

Business - Economy
2/5/2024 3:57:42 PM
As passenger vehicle prices have more than tripled in Egypt over the past two years, the Automotive Marketing Information Council (AMIC) reported that car sales have nearly halved in 2023 compared to 2022.

Business - Economy
2/1/2024 2:01:07 PM
Mercedes-Benz is poised to initiate the production of electric vehicles (EVs) in Egypt in the near future, said Gerd Bitterlich, CEO of Mercedes-Benz Egypt, on Thursday.

Business - Economy
1/31/2024 1:34:34 PM
Japanese car parts supplier Yazaki has announced commencing the construction of its manufacturing facility in Egypt, with an investment of 30 million euros ($32.49 million), according to a cabinet statement on Wednesday.

Egypt - Urban & Transport
12/25/2023 6:57:12 PM
Egypt’s state-owned El-Nasr Automotive Manufacturing Company has introduced an environmentally friendly bus for trial operations in the country’s New Administrative Capital (NAC).

Business - Economy
11/12/2023 7:51:18 PM
Egyptian state entities signed an agreement with German automobile manufacturer Volkswagen to conduct a feasibility study for the East Port Said Automotive Zone (EPAZ) worth $240 million in investments, according to a Cabinet statement on Sunday.

Business - Economy
11/2/2023 2:55:58 PM
Passenger car sales in Egypt dropped 61 percent year-on-year (YoY) to 45,917 during the first nine months of 2023 while increasing 15 percent YoY in September alone, according to a report by the Automotive Marketing Information Council (AMIC) released on Thursday.

Al-Ahram Weekly - Egypt
10/31/2023 11:05:43 PM
Khaled El-Ghamry reports on how the automotive market is dealing with shrinking sales

Business - Economy
10/5/2023 2:34:21 PM
Egypt's automotive market has been grappling with instability and unprecedented stagnation since March 2022, primarily due to a complex interplay of factors that have led to a sharp decline in car imports and a steep spike in prices.

Business - Economy
8/31/2023 10:37:32 PM
Prime Minister Mostafa Madbouly announced on Thursday that the state is ready to provide a package of incentives to encourage the localization of the automotive industry in Egypt.

Business - Economy
8/27/2023 4:02:53 PM
A tough market has seen vehicle sales in Egypt in the first half of 2023 plummet by 69.8 percent compared to the same period last year, according to a report by the Automotive Information Council (AMIC).

Business - Economy
8/25/2023 5:50:09 PM
Egypt's Prime Minister Mostafa Madbouly said the government is working to promote the private sector’s role and increase its contribution to the national economy to 65 percent in the next few years.

Business - Economy
7/24/2023 3:42:44 PM
Yazaki, a Japanese car parts supplier, has signed an agreement with the Governor of Fayoum to allocate land for a new factory that will be constructed by the company's local subsidiary using 30 million euros ($33.27 million) in investments, according to a statement by the Egyptian cabinet on Monday.

Business - Markets & Companies
6/21/2023 1:38:03 PM
GB Corp, the leading automotive company that ownsGB Auto and the non-bank financial services company “GB Capital”, announced the launch of 'Kredit,' a new SME lending company, according to a statement released on Wednesday.

Business - Economy
6/15/2023 3:32:28 PM
The number of licensed vehicles in Egypt declined by 8.9 percent to 9.9 million at the end of 2022, down from 10.9 million a year earlier, reported the Central Agency for Public Mobilization and Statistics (CAPMAS).

Egypt - Urban & Transport
5/2/2023 9:02:07 PM
Japanese automotive giant Toyota Tsusho has unveiled its strategy to revive the automotive industry in Africa by establishing two localised factories within the continent, with Egypt as one of the preferred countries to host one factory, said former chairman of the Japanese company Jun Karube on Tuesday.

Business - Economy
4/19/2023 5:27:21 PM
Nigerian automotive technology company Autochek has announced the acquisition of a majority stake in Egypt's AutoTager, a company operating in the same field, according to a press release on Tuesday.

Al-Ahram Weekly - Egypt
3/7/2023 9:42:26 PM
Falling sales coupled with a surge in prices do not mean that vehicle prices will not go up again in the near future, reports Amira Hisham

Al-Ahram Weekly - Egypt
1/17/2023 9:54:36 PM
The new and used car market in Egypt has slumped due to a host of local and global conditions, reports Amira Hisham

Business - Markets & Companies
12/6/2022 10:09:23 PM
Egypt-based fintech investment platform Exits.me closed a buy-side deal with KSA-based Morni Holding earlier this month in Dubai, UAE, in the presence of Exits.me CEO & Co-founder Mohamed Abu El-Naga and Salman Al-Suhaibaney Founder and Chief Commercial Officer of Morni Holding, the two sides announced on Tuesday.

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