Auto companies to reimburse distributors for losses incurred during promotional wave

Some auto companies will be reimbursing their distributors for losses incurred after a recent wave of promotions that saw prices slashed by as much as EGP 55k for some brands, Al Mal reports. The amounts will be determined based on an average price calculation and paid in quarterly installments to distributors who paid a higher purchasing than selling price for their stocks. Auto distributors who refused to receive their monthly car stocks from agents will not be eligible for reimbursement, one distributor tells the newspaper. GB Auto. Nissan Egypt, and Kia Motors were among those to discount their prices in late February and early March.