{"id":630606,"date":"2018-04-26T04:28:49","date_gmt":"2018-04-26T04:28:49","guid":{"rendered":"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\/"},"modified":"2018-04-26T04:28:49","modified_gmt":"2018-04-26T04:28:49","slug":"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","status":"publish","type":"post","link":"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\/","title":{"rendered":"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"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>GB Auto boss expects car prices to remain high after zero-tariff cars from the EU enter the market in 2019: <\/strong>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 <a href=\"http:\/\/www.almalnews.com\/Story\/373751\/18\/%D8%BA%D8%A8%D9%88%D8%B1-%D8%A3%D9%88%D8%AA%D9%88-%D8%A7%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D9%84%D9%86-%D8%AA%D9%86%D8%AE%D9%81%D8%B6-%D9%88%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%8A%D8%A9-%D8%AA%D8%B9%D8%B8%D9%85-%D8%A3%D8%B1%D8%A8%D8%A7%D8%AD%D9%87%D8%A7-%D8%B9%D9%84%D9%89-%D8%AD%D8%B3%D8%A7%D8%A8-%D9%85%D9%88%D8%A7%D8%B1%D8%AF-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A9\">tells Al Mal<\/a>. EU-based car assemblers will keep prices to their Egyptian distributors the same in a bid to maximize their own profit margins, he predicted, adding that the average profit margin for local distributors of EU cars is only around 1-1.5%. Prices of EU cars had not gone down since the agreement to gradually lower tariffs began, he noted.<\/p>\n<p><strong>But European car prices will drop, argues Kayan Egypt head Karim Naggar,<\/strong> whose company owns rights to a number of European brands, including Volkswagen and Skoda. <a href=\"http:\/\/almalnews.com\/Story\/373902\/18\/%D9%83%D8%B1%D9%8A%D9%85-%D9%86%D8%AC%D8%A7%D8%B1--10-%D8%A5%D9%84%D9%89-15%D8%A8%D8%A7%D9%84%D9%85%D8%A6%D8%A9-%D8%A7%D9%86%D8%AE%D9%81%D8%A7%D8%B6%D8%A7-%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%8A%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-2019\">He tells Al Mal<\/a> that the start of 2019 should see sticker prices of vehicles imported from the EU drop by 10-15%, especially if the USD exchange rate for customs remains stable at its current level.<\/p>\n<p><strong>Automotive Directive is the only way forward for the industry:<\/strong> Local manufacturing is the only route to lower car prices \u2014 and that won\u2019t happen until the Automotive Directive is passed, said Ghabbour. This law, which offers incentives to assemblers to move up the value chain to manufacturing to compete with EU, Moroccan, and Turkish made imports that enjoy preferential customs regimes, will do much to protect the local assembly industry. He added that the law would provide incentives to local assemblers to export, calling on the government to speedily announce the policies laid out in the Automotive Directive so that car companies can adapt accordingly. As it stands, the legislation is limbo with the Trade and Industry ministry having left the bill with a German consultancy to look at it for what seems like an eternity.<\/p>\n<p><strong>Expect sales this year to grow 20% industry-wide: <\/strong>Speaking on sales in the auto industry, Ghabbour noted that these have been improving for the past three months and expects this year to grow 20% y-o-y industry-wide to 120k vehicles.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 Mal. EU-based car assemblers will [&hellip;]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630606","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3ec7ebd9-a428-411c-9249-e03a3111e8ff","order":"0","is_powered_by":true,"section_story_id":"dad8214f-0b96-4004-8df1-b39022b94160","story_type":"1","photo_url":"","photo_position":"above","related_issue":[630586],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<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 - 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\/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\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"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\" \/>\n<meta property=\"og:description\" content=\"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 Mal. 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Egypt hosting the 2019 African Cup of Nations (AFCON) dominated the airwaves last night (and we have that coverage in the SR below), but what\u2019s really got us interested is Hona Al Asema\u2019s look at the impact of customs on European\u2026","rel":"","context":"In &quot;Enterprise+: Last Night\u2019s Talk Shows&quot;","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-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":649616,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/05\/auto-companies-reduce-prices-to-speed-up-sales-of-stockpiles\/","url_meta":{"origin":630606,"position":2},"title":"Auto companies reduce prices to speed up sales of stockpiles","author":"enterpriseam admin","date":"5 March 2017","format":false,"excerpt":"Auto companies are reportedly looking into reducing their prices to counteract a recent slump in sales, following the lead of big industry names such as GB Auto and Mansour Group, Al Mal reports. The move to reduce prices has stimulated car sales, encouraging other companies to follow suit, an unnamed\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":672417,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/24\/car-prices-fall-further-as-dealers-race-to-clear-inventory\/","url_meta":{"origin":630606,"position":3},"title":"Car prices fall further as dealers race to clear inventory","author":"enterpriseam admin","date":"24 September 2025","format":false,"excerpt":"More distributors are offering 2026 models at lower price points than 2025 stock","rel":"","context":"In &quot;Automotive&quot;","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/9\/1436.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":618059,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/02\/auto-sales-rebound-in-february\/","url_meta":{"origin":630606,"position":4},"title":"Auto sales rebound in February","author":"enterpriseam admin","date":"2 April 2024","format":false,"excerpt":"Distributors sold some 7.4k units last month, up almost 20% m-o-m","rel":"","context":"In &quot;Automotive&quot;","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/140.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":624914,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/tariffs-on-eu-cars-will-still-fall-to-zero-next-year-says-nassar\/","url_meta":{"origin":630606,"position":5},"title":"Tariffs on EU cars will still fall to zero next year, says Nassar","author":"enterpriseam admin","date":"23 September 2018","format":false,"excerpt":"**#3 EXCLUSIVE- Tariffs on EU cars will still fall to zero next year, says Nassar: Trade and Industry Minister Amr Nassar told Enterprise overnight that the government has no plan to put on hold a tariff cut on cars imported from the European Union. 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