Monday 18/November/2024 – 10:55 PM
Engineer Khaled Saad, Secretary General of the Automobile Manufacturers Association, revealed that Car market He is witnessing a state of stagnation during the recent period, continuing: No one buys because the price is greater than the customer’s capabilities.
Saad: The car market is witnessing a recession
Saad added during television statements that there has been a problem for more than a year regarding imports, and this comes within the framework of the state’s trend towards increasing local manufacturing, stressing that the market is witnessing a recession, prices are fixed and there is no demand.
In the same context, Major General Raafat Masrouja, an automobile expert and honorary president of the Automotive Market Information Council (AMIC), said that car prices will gradually decrease in the coming period.
The car expert added, in exclusive statements to Cairo 24, that the coming period will witness the opening of a number of factories to produce cars locally, which will contribute to lowering car prices and making them more accessible to the Egyptian consumer.
He stressed that fair competition, free of monopoly, between car manufacturing companies contributes significantly to the decline in car prices in the Egyptian market.
