{"id":546688,"date":"2022-05-25T04:00:41","date_gmt":"2022-05-25T04:00:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/"},"modified":"2022-05-25T04:00:41","modified_gmt":"2022-05-25T04:00:41","slug":"dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/","title":{"rendered":"Don\u2019t hold your breath if you expect to buy a new car anytime soon"},"content":{"rendered":"

<\/a> Need a new car? Good luck.<\/strong> Some foreign car manufacturers have suspended sales to Egypt after a change to how imports are paid for has left local dealers unable to purchase vehicles, industry sources say, confirming reports first published by Al Borsa<\/a> and Al Mal<\/a> on Monday.<\/p>\n

The new supply constraints will only add to existing shortages in the market<\/strong> caused by the scarcity of microchips and shipping snarls \u2014 and comes as dealers grapple with rising inflation. The shortage of inventory in the market became much worse after new rules<\/a> were handed down in March requiring importers to use letters of credit (L\/Cs) to purchase goods, instead of documentary collection, a quicker, more accessible, and less capital-intensive way of facilitating trade. The change in policy sparked criticism at the time from trade and industry associations.<\/p>\n

International car manufacturers are now rerouting shipments away from Egypt<\/strong> because local importers and distributors haven\u2019t been able to make transfers, Abed El Kader Talaat, a board member at the Automotive Information Council (AMIC), the industry group, told us. \u201cNo letters of credit were opened, no transfers were made, and therefore suppliers have made the decision to not produce for Egypt and instead divert to other markets,\u201d he said.<\/p>\n

Which brands have pulled out?<\/strong> We\u2019ve so far counted 13 that no longer appear to be delivering to Egypt, including some of Europe\u2019s biggest brands \u2014 Citroen, Volkswagen, Audi, Fiat and Peugeot among them \u2014 as well as Jeep and Asian companies including Geely.<\/p>\n

The situation provides no certainty for overseas suppliers:<\/strong> \u201cForeign companies now don\u2019t know the future of their exports to Egypt, and seeing as there is demand in other countries that can\u2019t be met due to the global crisis, they started redirecting some of the cars bound for the Egyptian market to other countries,\u201d Abou Ghaly Motors\u2019 commercial director, Tamer Kotb, told Enterprise. Abou Ghaly\u2019s portfolio of brands includes Mercedes, Jeep, Alfa Romeo and Subaru, among others, as well as a stable of mobility solutions.<\/p>\n

Few new cars have entered the market <\/strong>since March<\/strong>, Kotb said. Talaat told us that there are around 29k vehicles waiting to be released from port, which could help to ease the supply squeeze should the import issues be resolved.<\/p>\n

\u201cWe have lost credibility with foreign car manufacturers<\/strong>, because we have cars that Egyptian distributors ordered, that have been produced and we can\u2019t take them,\u201d said Karim Naggar, chairman of Egyptian Automotive and Trading and Kayan, which imports and distributes brands including Volkswagen, Audi and Seat. \u201cWe are unable to give them an outlook on how long this will go on because nobody is telling us when we can expect to see changes.\u201d<\/p>\n

There\u2019s no quick fix: <\/strong>Foreign car manufacturers won\u2019t look to export to Egypt until the current backlog is cleared, Talaat said. It takes around three months from when an importer puts in an order for the cars to arrive here, he said. If import difficulties are cleared up, there will be a significant lag as manufacturers return to the Egyptian market, he added.<\/p>\n

Another year of standstill?<\/strong> In the best case scenario, the market will start to stabilize in mid-2023, Kotb told us.<\/p>\n

Distributors also have to compensate consumers for recent price hikes + supply issues:<\/strong> Customers who made a down payment on a vehicle prior to 12 April, but who have not received their car, are entitled to receive a refund from the dealer plus 18% interest, the Consumer Protection Agency said this week. Those who had paid for the car in full before this date will be protected against any recent price hikes, it said. Distributors are waiting for clarity on how the refund system will work and are angling to minimize how much interest they\u2019re required to pay on, for example, downpayments made before Banque Misr and NBE hiked rates to 18% earlier this spring.<\/p>\n

We could hear more about consumer refunds today: <\/strong>Kotb told us that he expects the decision to be published in the Official Gazette today.<\/p>\n

One thing is clear: Whenever supply returns, prices are going up \u2014 but it\u2019s anyone\u2019s guess by how much. <\/strong>Between the wide gap between supply and demand, local car prices are set to rise between 15-20%, and that\u2019s on top of the 2-5% hike in the global market due to the rise in raw materials prices on the back of war in Ukraine, Kotb added. Talaat is less optimistic, forecasting a 35-45% price hike, taking into account the devaluation earlier this spring of the EGP and ongoing market turmoil. \u201cCars are going to continue to be much more expensive than they currently are \u2014 it\u2019s all about supply and demand,\u201d Naggar said.<\/p>\n

In the meantime, the CPA is saying dealers can raise prices only 5%<\/strong>, a figure that won\u2019t move the needle for distributors \u2014 and that\u2019s largely academic, anyway. You can\u2019t price up that which you do not have in hand to sell.<\/p>\n","protected":false},"excerpt":{"rendered":"

Need a new car? Good luck. Some foreign car manufacturers have suspended sales to Egypt after a change to how imports are paid for has left local dealers unable to purchase vehicles, industry sources say, confirming reports first published by Al Borsa and Al Mal on Monday. The new supply constraints will only add to […]<\/p>\n","protected":false},"author":1,"featured_media":546689,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7339],"tags":[454,144,72,1415],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-automobiles","tag-automotive","tag-enterpriseam","tag-l-cs","wpautop","entry"],"acf":{"mongo_id":"3242bc1d-f416-47a6-a914-3ce472eb1c9f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/331.jpg","photo_position":"above","related_issue":[546684],"teaser":"","voice_url":""},"yoast_head":"\nDon\u2019t hold your breath if you expect to buy a new car anytime soon - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don\u2019t hold your breath if you expect to buy a new car anytime soon\" \/>\n<meta property=\"og:description\" content=\"Need a new car? Good luck. Some foreign car manufacturers have suspended sales to Egypt after a change to how imports are paid for has left local dealers unable to purchase vehicles, industry sources say, confirming reports first published by Al Borsa and Al Mal on Monday. The new supply constraints will only add to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-25T04:00:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Don\u2019t hold your breath if you expect to buy a new car anytime soon\",\"datePublished\":\"2022-05-25T04:00:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/\"},\"wordCount\":843,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?fit=%2C&ssl=1\",\"keywords\":[\"automobiles\",\"automotive\",\"EnterpriseAM\",\"L\/Cs\"],\"articleSection\":[\"Automotive\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/\",\"name\":\"Don\u2019t hold your breath if you expect to buy a new car anytime soon - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-05-25T04:00:41+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Don\u2019t hold your breath if you expect to buy a new car anytime soon\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Don\u2019t hold your breath if you expect to buy a new car anytime soon - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/","og_locale":"en_US","og_type":"article","og_title":"Don\u2019t hold your breath if you expect to buy a new car anytime soon","og_description":"Need a new car? Good luck. Some foreign car manufacturers have suspended sales to Egypt after a change to how imports are paid for has left local dealers unable to purchase vehicles, industry sources say, confirming reports first published by Al Borsa and Al Mal on Monday. The new supply constraints will only add to […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-05-25T04:00:41+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Don\u2019t hold your breath if you expect to buy a new car anytime soon","datePublished":"2022-05-25T04:00:41+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/"},"wordCount":843,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?fit=%2C&ssl=1","keywords":["automobiles","automotive","EnterpriseAM","L\/Cs"],"articleSection":["Automotive"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/","name":"Don\u2019t hold your breath if you expect to buy a new car anytime soon - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?fit=%2C&ssl=1","datePublished":"2022-05-25T04:00:41+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Don\u2019t hold your breath if you expect to buy a new car anytime soon"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":548782,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/22\/last-nights-talk-shows-el-sisi-mbz-talks-make-headlines-on-the-airwaves\/","url_meta":{"origin":546688,"position":0},"title":"Last Night\u2019s Talk Shows: El Sisi + MBZ talks make headlines on the airwaves","author":"enterpriseam admin","date":"22 August 2022","format":false,"excerpt":"El Sisi and MBZ\u2019s sit-down yesterday dominated the airwaves: UAE President Sheikh Mohammed bin Zayed Al Nahyan\u2019s arrival in New Alamein yesterday for a regional summit with Bahrain, Jordan, and Iraq, and his sit-down with President Abdel Fattah El Sisi, got coverage from Ala Mas\u2019ouleety (watch, runtime: 4:21; 3:39), Al\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547587,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/28\/could-the-auto-industry-get-some-much-needed-reprieve\/","url_meta":{"origin":546688,"position":1},"title":"Could the auto industry get some much-needed reprieve?","author":"enterpriseam admin","date":"28 June 2022","format":false,"excerpt":"PM Madbouly seeks to reassure automotive players on stymied car imports: Prime Minister Moustafa Madbouly has directed his ministers, the central bank, and the banking sector to coordinate on setting up \u201ca mechanism for the orderly release of car shipments\u201d from ports, according to a cabinet statement. Madbouly\u2019s directive came\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/321.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550471,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/30\/expat-car-for-fx-scheme-signed-into-law-bye-bye-l-cs\/","url_meta":{"origin":546688,"position":2},"title":"Expat car-for-FX scheme signed into law + Bye bye, L\/Cs","author":"enterpriseam admin","date":"30 October 2022","format":false,"excerpt":"The expat car import scheme is on its way: President Abdel Fattah El Sisi has signed into law a bill that will allow Egyptian expats to import cars and get customs and tax exemptions after paying upfront in FX, according to a decision published in the Official Gazette.Refresher- Under the\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/371.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547783,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/gb-auto-to-open-passenger-car-factory-in-sadat-city-next-year\/","url_meta":{"origin":546688,"position":3},"title":"GB Auto to open passenger car factory in Sadat City next year","author":"enterpriseam admin","date":"6 July 2022","format":false,"excerpt":"GB Auto is working on transforming a brownfield site in Sadat City into a passenger car and light commercial vehicle factory, Marina Kamal, GB Auto\u2019s IR head, told Enterprise. The factory will assemble some 50k cars for Chinese brands Changan and Haval (which GB Auto added to its portfolio last\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645972,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/amid-sales-slump-car-dealers-looking-to-attract-would-be-uber-and-careem-drivers\/","url_meta":{"origin":546688,"position":4},"title":"Amid sales slump, car dealers looking to attract would-be Uber and Careem drivers","author":"enterpriseam admin","date":"1 June 2017","format":false,"excerpt":"The story reads as a paid advertisement for a domestic car dealer, but the theme nevertheless holds: Where a few years back car dealers made bank selling on installments to taxi drivers through the state-backed \u201cwhite cab\u201d program, today they\u2019re angling for agreements with ridesharing apps including Uber and Careem\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":641408,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/20\/used-car-market-sees-modest-movement-but-dealers-say-not-a-recovery\/","url_meta":{"origin":546688,"position":5},"title":"Used car market sees modest movement but dealers say not a recovery","author":"enterpriseam admin","date":"20 September 2017","format":false,"excerpt":"Used car dealers said sales in their segment have seen a modest recovery over the summer, according to Al Mal. The traders added that they think the rise comes from stabilizing prices and a seasonal rise in the summer. Dealers, however, doubt that the good times will continue, as inventory\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546688"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546688\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546684"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546689"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546688"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546688"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}