Car manufacturers at risk of halting business

The Egyptian government will be held accountable before history for damaging the Egyptian car industry, warned Chairman of GB Ghabbour Auto Raouf Ghabbour.

He said the country is missing out on significant opportunities, as week after week passes without the activation of the automotive industry strategy.

In a press conference to announce the tripartite cooperation agreement between Ghabbour, Aboul Fotouh Automotive, and Chery International, the chairman said Morocco benefits the most from the instability in the car industry in Egypt. He asserted that Morocco exceeded Egypt by tens of years, as Volkswagen will negotiate with Morocco to establish a car factory there.

Ghabbour said car manufacturers are making losses on a daily basis, but every manufacturer has a limit of losses. However, one day the factories will suspend their work, and consequently the manufacturers will withdraw.