{"id":572887,"date":"2020-07-13T04:24:17","date_gmt":"2020-07-13T04:24:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/13\/car-prices-for-2020-models-expected-to-drop-2021-models-to-rise\/"},"modified":"2020-07-13T04:24:17","modified_gmt":"2020-07-13T04:24:17","slug":"car-prices-for-2020-models-expected-to-drop-2021-models-to-rise","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/13\/car-prices-for-2020-models-expected-to-drop-2021-models-to-rise\/","title":{"rendered":"Car prices for 2020 models expected to drop, 2021 models to rise"},"content":{"rendered":"

<\/a> You can expect car prices to ease a bit in the coming months before rising again later in <\/strong>the year<\/strong>, the car-crazy domestic press suggests.<\/p>\n

Why car prices are going down\u2026 <\/strong>Dealers are overstocked right now after demand slumped thanks the nighttime curfew imposed earlier in the covid-19 epidemic and the weekslong shuttering of traffic police offices that licensed new vehicles. Karim El Najjar, executive director of the local agent for Volkswagen, Audi and Seat, among other brands, suggests prices are likely to drop<\/a> as dealers try to move inventory.<\/p>\n

\u2026and then back up: <\/strong>Imports were down 25-30% during covid, El Najjar suggests, so there could be supply constraints on new models. And with the USD having strengthened against the EGP earlier this year, that could mean sticker prices for 2021 models and other new imports are 3-5% higher, El Masria Auto President Shadi Rayan told Al Mal<\/a>.<\/p>\n

The Finance Ministry and the Consumer Protection Authority are watching prices<\/strong>, with Magdy Abdel Aziz, a senior advisor on customs at the Finance Ministry, telling Al Mal<\/a> that customers did not fully benefit from the government scrapping customs on imported European cars<\/a> last year as dealerships did not always pass on the discounts to end users. The ministry\u2019s price monitoring committee is talking with the CPA about dealers\u2019 profit margins, he said, adding that the agency would \u201csoon issue decisions that will benefit consumers.\u201d He stopped short of offering details of how the CPA might try to regulate distributors\u2019 already-thin margins.<\/p>\n","protected":false},"excerpt":{"rendered":"

You can expect car prices to ease a bit in the coming months before rising again later in the year, the car-crazy domestic press suggests. Why car prices are going down\u2026 Dealers are overstocked right now after demand slumped thanks the nighttime curfew imposed earlier in the covid-19 epidemic and the weekslong shuttering of traffic […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[1312,5500,5506,5503,72,276,5501,5505,5502,5504,2380,1123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-572887","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-consumer-protection-agency","tag-eatc","tag-egyptian-automotive-trade-company","tag-el-masria-auto","tag-enterpriseam","tag-finance-ministry","tag-karim-el-najjar","tag-magdy-abdel-aziz","tag-seat","tag-shadi-rayan","tag-speed-round","tag-volkswagen","wpautop","entry"],"acf":{"mongo_id":"f06bce1f-ca45-4fa5-8659-5bbc968bdf5d","is_powered_by":true,"section_story_id":"a9ca4595-65d7-4dd9-80f7-225ca87d2630","story_type":"1","photo_url":"","photo_position":"above","related_issue":[572879],"teaser":"","voice_url":""},"yoast_head":"\nCar prices for 2020 models expected to drop, 2021 models to rise - 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\/2020\/07\/13\/car-prices-for-2020-models-expected-to-drop-2021-models-to-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Car prices for 2020 models expected to drop, 2021 models to rise\" \/>\n<meta property=\"og:description\" content=\"You can expect car prices to ease a bit in the coming months before rising again later in the year, the car-crazy domestic press suggests. 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The company has recently reached an agreement with the Spanish automaker and is in \u201cserious negotiations\u201d to see SEAT models assembled by Bavarian Auto, Arab American Vehicles Co., and Egyptian German Automotives, El\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571027,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/27\/yasser-el-naggar-appointed-chairman-of-suez-cement\/","url_meta":{"origin":572887,"position":1},"title":"Yasser El Naggar appointed chairman of Suez Cement","author":"enterpriseam admin","date":"27 April 2020","format":false,"excerpt":"MOVES- Suez Cement has appointed EN Investment CEO Yasser El Naggar as chairman succeeding Hayrullah Hakan G\u00fcrdal, according to a release (pdf). El Naggar was previously the CEO of the Chemical Industries Holding Company and served as deputy ministers of planning and investment after working for 25 years as a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630606,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/gb-auto-boss-expects-car-prices-to-remain-high-after-zero-tariff-cars-from-the-eu-enter-the-market-in-2019-pushes-on-automotive-directive\/","url_meta":{"origin":572887,"position":2},"title":"GB Auto boss expects car prices to remain high after zero-tariff cars from the EU enter the market in 2019, pushes on automotive directive","author":"enterpriseam admin","date":"26 April 2018","format":false,"excerpt":"GB Auto boss expects car prices to remain high after zero-tariff cars from the EU enter the market in 2019: Don\u2019t expect auto prices to go down once customs on cars imported from the European Union fall to zero next January, our friend GB Auto Chairman Raouf Ghabbour tells Al\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634242,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/10\/car-dealers-see-car-prices-decreasing-slightly-if-at-all-in-2018\/","url_meta":{"origin":572887,"position":3},"title":"Car dealers see car prices decreasing slightly, if at all, in 2018","author":"enterpriseam admin","date":"10 January 2018","format":false,"excerpt":"Car dealers and distributors expect auto prices to decrease only slightly \u2014 if at all \u2014 in 2018, a number of them tell Ahram Gate. 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