A new wave of price hikes took place in July for 153 car models from different brands amid anticipation by analysts that the Egyptian pound would be further devaluated by the Central Bank of Egypt.
The increase included the German carmakers Opel and BMW, Korea’s Hyundai and Kia, the American Chevrolet, the French brands Renault and Peugeot, and the Japanese brands Nissan and Mazda.
The automotive market has witnessed significant leaps in prices over the past few months, driven by the shortage of hard foreign currency required for importing and the high exchange rate on the informal market.
The market saw changes to the prices of 135 models earlier in June.
Chevrolet and Ford drive price increases in American automotive market in Egypt
A tour of American-origin cars showed that prices have increased in July. The American brand Chevrolet increased its Cruze model by EGP 4,000 to register EGP 177,000 for its first class with automatic transmission.
Ford kept its prices unchanged from June.
The price of the Jeep Renegade increased by EGP 15,000 up to EGP 280,000.
A tour last month showed that prices also increased in June. The American brand Chevrolet put EGP 12,500 on top of the original Aveo offering price, EGP 3,900 for Optra, EGP 7,000 on Cruze, and EGP 11,000 for Lanos and N 300. The prices of Ford’s Fusion, Kuga, and Focus amount to EGP 330,000, EGP 355,000, and EGP 250,000, respectively. Jeep kept its prices unchanged from May.
Japanese cars keep pace with price increases in the market
A tour of the Japanese auto market in Egypt showed that Mitsubishi raised the price of the first class Lancer EX by EGP 4,000. It also increased the price of the car’s full option class by EGP 9,000 to reach EGP 175,000.
Subaru raised the price of its XV model to EGP 260,000, while Honda added EGP 23,000 to the price tag of the Civic to read EGP 295,000.
Mazda approved raising the price of Mazda. The first class model registered EGP 245,000. The Mazda 2 model received a limited EGP 500 increase and is now sold at EGP 192,000.
Toyota, Daihatsu, Nissan, and Suzuki have all kept the same prices from June.
An earlier tour in June around the Japanese auto market in Egypt showed that Mitsubishi raised the price of Attrage by EGP 8,000. Subaru raised the price of Impreza and XV by EGP 10,000 each.
Toyota increased the price of Fortuner by EGP 15,000, Corolla and Yaris by EGP 10,000, and Auris by EGP 28,000.
Honda approved raising the price of City by EGP 5,000. Mazda also increased the price of Mazda 3 by EGP 24,000 and Mazda 2 by EGP 14,000.
Nissan raised the price of Sunny by EGP 3,000 and Sentra by EGP 5,000.
Suzuki added EGP 11,000 to the price of Alto, EGP 18,000 to the price of Swift, and EGP 20,000 to Ertiga and Ciaz.
Chery and Geely join the track
Geely decided to raise the price of Pandino by EGP 4,000. The first-class model with manual transmission is now sold at EGP 89,000, while the automatic model is sold at EGP 101,000.
The price of X Pandino was also increased by EGP 4,000 to register EGP 111,000.
Meanwhile, the brand Chery raised the price of Envy and Tiggo to record EGP 101,000 and EGP 157,000, respectively.
Brilliance kept its prices unchanged from June through July.
A previous tour of the automotive market showed that the Chinese carmaker Geely had raised the price of Emgrand 7 by EGP 9,000, and Pandino and X Pandino by EGP 3,000 each.
Chery, and its agent in Egypt GB Auto, had raised the price of Envy by EGP 7,000 and Tiggo by EGP 9,000.
Brilliance and MG kept their prices unchanged from May through June.
European-origin automotive market sees price increase of 44 models
Daily News Egypt spotted an increase in the prices of Opel, BMW, Mercedes Benz, Seat, Fiat, Renault, Volvo, Peugeot, Citroen, Audi, Volkswagen, and Skoda in July.
Price lists showed that Opel raised the prices of Astra to EGP 222,000 for the first-class model. It also added 20,000 on the price of Cascada to record EGP 430,000. The price of Insignia was raised by EGP 20,000 to EGP 320,000. The carmaker also put EGP 10,000 on top of the price of Adam by EGP 10,000 to register EGP 2,000 and EGP 25,000 on the price of Meriva to mark EGP 225,000.
Fiat raised the price of X500 by EGP 20,000 and Pop Star to EGP 267,900. Renault, on the other hand, lowered the price of Stepway by EGP 3,000.
Seat lifted to the price of Leon by EGP 9,900 to register EGP 197,900.
BMW lifted the price of all 37 of its models by EGP 15,000 to EGP 100,000.
Peugeot, Jaguar, Volvo, Mercedes Benz, Citroen, Skoda, Audi, and Volkswagen maintained last month’s prices.
Daily News Egypt toured the market last month and found that Opel raised the prices of Astra and Cascada by EGP 20,000. Prices of Meriva and Adam were increased by EGP 10,000, while those of Insignia and Mokka were raised by EGP 25,000. The price of Corsa was lifted by EGP 36,000.
Peugeot raised the price of 2008 by EGP 20,000, 208 by EGP 15,000, 3008 by EGP 35,000, 301 by EGP 12,000, and both 5008 and 508 by EGP 40,000.
BMW lifted the price of X5 by EGP 25,000. Jaguar also raised the price of XE by EGP 50,000. Volvo increased the price of S80 by EGP 30,000.
Mercedes Benz has returned to setting price tags of its models, after halting pricing and sales for three months. The price of Mercedes A200 was raised by EGP 50,000, B180 by EGP 51,000, C180 by EGP 75,000, CLA 180 by EGP 55,000, CLA 200 by EGP 70,000, E180 by EGP 87,000, and S400 by EGP 219,000.
The French Citroen also raised the prices of its models: C5 by EGP 31,000, DS3, DS4 and DS5 by EGP 21,000, C4 by EGP 15,000, C3 Picasso and C4 Picasso by EGP 11, C4 Grand Picasso by EGP 20,000, and C-Elysee by EGP 16,000.
Fiat raised the price of Linea by EGP 5,000, Punto by EGP 8,000, Doblo by EGP 6,000, Qubo by EGP 5,000, and the 500 and C500 models by EGP 10,000.
Renault also raised the prices of Duster and Fluence by EGP 8,000. The French carmaker increased the price of Logan by EGP 5,000, Megane and Sandero Stepway by EGP 10,000, and Sandero by EGP 17,000.
Skoda lifted the price of Octavia by EGP 37,000. Volkswagen also raised the price of Golf by EGP 5,000, Passat by EGP 22,000, and Tiguan by EGP 25,000.
Kia and Hyundai amend their pricing policies
Kia raised the price of Carens by EGP 23,100, boosting the price tag on its first class to EGP 259,000. The price of the New Cerato was pushed up by EGP 5,000 to register EGP 200,000. It also raised the price of Sportage by EGP 29,000 to record EGP 319,000. Meanwhile, the price of Soul was cut by EGP 5,000.
Hyundai lowered the price of Verna 2017’s manual model by EGP 2,000 and the automatic by EGP 2,500. It added EGP 1,500 to the price of the 2016 manual Verna to register EGP 104,000. The model’s automatic category was also raised by EGP 1,000 up to EGP 121,500.
Hyundai also increased the price of Elantra Ad by EGP 1,000 to begin at EGP 199,000, Elantra MD by EGP 2,000 up to a price of EGP 185,000, Elantra HD by EGP 1,000 up to the price of EGP 159,000.
The price of Accent was lifted by EGP 1,500, Solaris by EGP 11,000, Tucson by EGP 24,000, and Creta by EGP 3,000 to register EGP 214,000.
Kia had raised the price of Cerato in June by EGP 43,000, Rio and Picanto by EGP 12,100, Soul by EGP 20,100, and Ceed by EGP 37,100.
Hyundai has raised the price of the manual Verna 2017 by EGP 9,000. It added EGP 10,000 to the automatic category. The price of manual Verna 2016 was lifted by EGP 10,000 and by EGP 11,000 for the automatic category of the same model.
Hyundai also increased the price of i10 by EGP 8,000. Prices of Grand i10, Accent, and Elantra AD were raised by EGP 10,000. The price of Elantra MD was lifted by EGP 18,000, Elantra HD and Solaris by EGP 11,000, Tucson by EGP 24,000, and Creta by EGP 20,000.
Proton keeps last month’s prices
The Malaysian carmaker Proton kept the prices of both models Gen 2 and Persona unchanged from June at EGP 153,900 for the first class of both models and EGP 159,900 for the second class. Proton had raised the prices of both models Gen 2 and Persona by EGP 31,000 in June.