Egypt’s Automobile Dealers Association anticipates 25% increase in car prices

The president of the Automobile Dealers Association in Egypt, Osama Abul-Magd anticipates a slight increase in car prices, and assured this is normal as there are many cars on hold at customs.

He added that commercial and personal imports and vehicles for people with special needs were stopped at customs.

After reviewing the customs administration, the response was to provide modifications to the customs’ National Single Window for Trade (Nafeza) and halt registration for cars currently.

Rising car prices

During a telephone interview with the privately-owned satellite channel “al-Kahera Wal Nas (Cairo and the People)” on Sunday, Abul-Magd indicated that there must be a reconciliation of the situation before making any decision.

He explained that there are 39,000 cars held at customs, anticipating an increase in car prices and the return of overpricing.

He said that the price increase is not in the interest of the consumer or the dealer, adding that a “25 percent increase in car prices is expected, but when the cars leave the customs this week there will be no increase in their prices.”