General Motors unveiled its new locally-manufactured Chevrolet Optra at a launch event at its 6th of October City factory. The model will be offered at a price of EGP 128,000.
The announcement of the new model is followed by an investment of EGP 110m in the company’s production line and an employee training programme, according to General Motors Egypt and North Africa Managing Director Tarek Atta. In addition to ensuring quality control, the investment will also make provision for after-sale services.
General Motors Egypt holds a 45% share of the personal car market in Egypt and a 60% of the commercial transport vehicle market.
President of General Motors Africa Mario Spangenberg said the company sees Egypt as a base for its operations in Africa, a principal reason for the additional investments in local manufacturing. Spangenberg expects further investments in logistics, labour, feeder industries, technologies, production lines, and supply.
Egypt is the third largest car market in Africa, and the second largest car market for General Motors Africa. General Motors Egypt has held the largest share of cars in the Egyptian market over the past eight years.
The launching event was attended by the head of Industrial Development Authority, Ismail Gaber, Spangenberg, and Atta.