Friday, January 11, 2019
Books - Ayman Sabri:
Mohamed Abaza, the expert and chief executive of a car company, said that successive declines in prices in the local market against the background of the full customs exemption for cars of European origin have affected the used car market.
The prices of European cars used with a 1.6-liter engine fell by 8 percent, and luxury cars with large engines dropped by up to 25 percent, Abaza said.
He predicted that the local market will not see further decline in prices of new cars, pointing out that the current time is suitable for buying, saying that the coming period may bear factors and decisions that affect prices negatively.
He pointed out that the sales movement is still relatively stagnant compared to the volume announced by the companies announced since the beginning of January, saying: "People ask for prices but Mtbtrish."
More than 18 brands in the Egyptian market announced a reduction in the price of about 170 new models since the first day to activate customs exemptions on cars of European origin, with values ranging from LE 10,000 to LE 2.5 million.