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Egypt saw broad auto discounts forEuropean trademarks

Thursday 10 January 2019 07:55 AM


By Sherif Eisa

With the passing of one week since the enforcement of the European Partnership Treaty, prices of Europe-based autos recorded broad discounts in the Egyptian market ranging from 2.6 percent, equivalent to EGP6,000, to 30.1 percent for models of Fiat Tipo (manual) and Bentley Mulsanne respectively.

Wide-ranging discounts involved  up to 14 models including Audi, Bentley, Fiat, Skoda, Siat, Volkswagen, Peugeot, Opel, Jaguar, Land Rover, Maserati and Porsch as well as some Europe-originated models of Hyundai and Ford.  

Following  in the footsteps of their European peers, Japan-based carmakers unveiled discounts ranging from EGP30,000 to EGP40,000 in a bid to dispose of  their 2018's unsold stocks and boost sales, according to sales manager of Mitsubishi at Diamond Motors Usama Oun.  

In the face of  EPT's customs reliefs coming into force, four European trademarks refrained from officially announcing any  discounts. 

Sales of European trademarks jumped by 82.4 percent during the first 11 months of 2018, as they recorded 24,587 deliveries, up from 13,477 units in the same period of 2017, according to Authomative Marketing Information Center ( AMIC).

The market share of European automakers in the Egyptian market rose to 19.9 percent up from 15.2 percent a year earlier.