Submitted by basem — Wed, 12/17/2008 - 16:57
Jeep J8 production begins in Egypt
Chrysler LLC and the Arab American Vehicles Company (AAV) officially announced the recent manufacturing launch of the Jeep J8 multipurpose vehicle at AAV's Cairo assembly plant.
Date: Wednesday, December 17 - 2008
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http://www.ameinfo.com/178946.html
Egypt's Ghabbour sees flat car sales in 2009
CAIRO, April 16 (Reuters) - Ghabbour Auto (AUTO.CA), Egypt's largest listed auto maker and assembler, saw improvement in passenger car sales in March and expects sales in 2009 to be on par with last year, a company official said.
The gains in March, which Ghabbour said was its best month for car sales since November, adds to an improvement in sales it reported in the first two weeks of February after a drop-off in the fourth quarter of 2008 due to the global financial crisis. "We witnessed some recovery during March in car sales. It was picking up a little bit," Investor Relations Director Bassem El-Shawy told Reuters on Thursday. "Consumers are realising that prices will not come down further." "This led us to believe we should be closing the year close to the number of passenger car sales for 2008," he said. Shawy said while the market has been expected to slow in 2009, Ghabbour's plan to offer affordable taxis to drivers under a government plan to modernise the country's taxi fleet would balance out any declines.
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http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSLG...
The Road to Success
The region’s largest car assembler and distributor, GB Auto, is finding its way through the economic slowdown
By Osama Diab
In the minds of many Egyptians, the name Ghabbour is synonymous with the Hyundai brand. But there’s more to GB Auto (bt100 number 12) than just Korean cars. The company is one of the major players in automotive assembly and distribution in the Middle East and North Africa, and along with passenger cars produces Volvo and Mitsubishi trucks and buses, Linde forklifts, Volvo construction equipment and Bajaj motorcycles and three-wheelers.
But it is the low-cost Hyundai that dominates the local market with a 26% share of Egypt’s passenger car sales in 2008. In other words, more than one in four passenger cars sold in Egypt in 2008 was a Hyundai. In 2008, GB Auto sold more than 20,000 Hyundai cars.
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http://www.businesstodayegypt.com/article.aspx?ArticleID=8573
AUTOMAKERS AWAIT MARKET DEVELOPMENTS
BY MOHAMED SOLIMAN
The automotive industry is one of the most important and critical sectors of the Egyptian economy. Since the global economic downturn began, the industry has experienced a drastic recession worldwide, with many prominent car manufacturers forced to implement layoffs, close factories and reduce prices. The Egyptian market, however, continues to brace itself against an ominous tide of speculation, as the well-being of the industry remains bogged in uncertainty. Countless rumors have circulated about the Egyptian car market, chief among them the suggestion that the reductions in prices globally will have a direct impact on local car prices. Menatallah Sadek, consumer goods analyst at regional investment bank Beltone Financial, predicts that Egypt’s automotive market will slow down in the coming months. “The global financial crisis [suggests] that car prices might come down with the lower global car demand. Potential clients will postpone their buying decisions until they have further clarity,” says Sadek.
Business Monthly - March 2009
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http://www.amcham-egypt.org/Publications/BusinessMonthly/March%2009/indepth(automakers).asp
FTA WORRIES LOCAL AUTO INDUSTRY
BY GEOFFREY CRAIG
Business Monthly
After a long wait, a small sign emerged recently suggesting greater regional trade. In early September, the Customs Authority eliminated tariffs on cars entering from Morocco under the Agadir Agreement, the four-year-old free trade deal signed by Egypt, Morocco, Tunisia and Jordan. But while car shoppers may soon enjoy a new selection of cheaper imports, the local automobile industry is voicing concern.
Read More:
http://www.amcham.org.eg/Publications/BusinessMonthly/November%2008/indepth(ftaworrieslocalautoindustry).asp
Plans to bring Proton assembly plant to Egypt underway
By Sherine El Madany
First Published: January 7, 2009
Malaysia’s Proton auto brand may soon get labeled “Made in Egypt” after Egypt’s trade minister said company executives were mulling over establishing a car assembly plant in Egypt. “Company officials are keen on investing in Egypt’s automotive and feeder industries, and a large delegation will visit Egypt in March to discuss means of cooperation,” said Rachid Mohamed Rachid, Egypt’s minister of Trade and Industry during his three-day visit to Malaysia, which ended Wednesday.
Read More:
http://dailystaregypt.com/article.aspx?ArticleID=18905