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Automotive Industry

Egypt launches key bodies to accelerate localization of automotive industry

Prime Minister Mostafa Madbouly chaired the Supreme Council for Vehicle Manufacturing’s inaugural meeting yesterday, highlighting the automotive industry’s importance in supporting the Egyptian economy

Import restrictions led to 2022 auto sales plummeting by more than a third | AMIC

Passenger car sales dropped by close to 40% year-on-year (YoY), with bus and truck sales also falling by a third

Chimera Investments to purchase 45% of GB Auto’s B2B leasing solution GB Lease

A statement from GB Capital’s parent company, Ghabbour Auto, explained that the transaction is still pending GB Auto’s board approval

Auto Sales maintain dive, falls 68.9% in October 2022 | AMIC

When looking at sales over the 10-month period of 2022, passenger car sales fell by 29% to reach 123.1k vehicles

100k Egyptian expats registered on tax-free car import scheme’s app within 48Hrs

The initiative, which aims to “facilitate the import of cars for personal use for Egyptians residing abroad,” started on November 15 and will end on March 14 2023