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Low supplies cause car prices to rise in September - Daily News Egypt

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Low supplies cause car prices to rise in September

Coinciding with September’s deliveries, further price hikes have swept across approximately 137 models from all the well-known brands in the automotive market, registering record highs as a result of the price increases companies have put in place on newly imported shipments and the low supply offered in the market. These price hikes were registered for …


Coinciding with September’s deliveries, further price hikes have swept across approximately 137 models from all the well-known brands in the automotive market, registering record highs as a result of the price increases companies have put in place on newly imported shipments and the low supply offered in the market.

These price hikes were registered for the German brands Opel and BMW, the Korean Hyundai and Kia, the American Chevrolet and Jeep, and the Japanese Mitsubishi and Toyota.

The new increases come after already soaring prices seen by the market in recent months, pushed by the continuous crisis of the shortage in foreign currency needed for importing and the increase of the dollar exchange rate in the unofficial market.

Automotive companies maintained their prices in August, following increases in July, despite the unrest that hit the market when the dollar exceeded EGP 13 in the unofficial market.

Other companies increased their prices temporarily until re-pricing the cars, while some distributors and traders directed to increase prices and face the high cost of importing.

This Daily News Egypt report addresses the new prices in September for European, Korean, American, Chinese, Japanese, and Asian car brands.

1EGP 6,000-30,000 increase across American brands

Daily News Egypt’s tour of American car brands found that prices increased for September’s new deliveries.

Chevrolet added EGP 10,000 to the price of its Avio model, now registering EGP 123,000 in its first segment that comes with automatic transmission. The company also increased Optra’s price by EGP 6,000 to register EGP 149,000, and Lanos’s price by EGP 6,000 to register EGP 100,250.

Ford has also increased the prices of its Fusion and Kuga models by EGP 10,000, registering EGP 340,000 and EGP 365,000 respectively, while it has maintained the prices of its other cars at the levels of the previous month.

Jeep increased the price of its Renegade to EGP 310,000, an increase of EGP 30,000 from August.

A previous tour by Daily News Egypt found that Chevrolet maintained its prices in August without change from July, except for its Cruze model, which increased by EGP 8,000, registering EGP 185,000 for its first segment.

Ford and Jeep also maintained their prices without change.

EGP 45,000 highest registered increase across Japanese brands

The deliveries list for September showed that Japanese car brands have also increased their prices.

Subaru added EGP 40,000 to the ‘high line’ segment of its Impreza, increasing it to EGP 280,000. It has also added EGP 45,000 to its Forester model, raising its price to EGP 499,000; and EGP 10,000 to its XV, raising its price to EGP 275,000.

Toyota added EGP 10,000 to its Fortuner, raising its price to EGP 430,000 for the 2,700cc engine segment. The company added EGP 20,000 to the price of the Corolla, raising it to EGP 235,000; EGP 43,000 to the price of the Yaris, raising it to EGP 205,000; EGP 19,000 to the price of Avanza, raising it to EGP 229,000; and EGP 20,000 to the price of its Auris, raising it to EGP 270,000.

Honda increased the price of its City model by EGP 7,000—its first segment costs EGP 212,000 and the ‘high line’ segment costs EGP 237,000.

Mazda added EGP 1,000 to its Mazda2, raising its price to EGP 193,000.

Nissan increased the price of its Sunny by EGP 5,000 for the first segment that comes with automatic transmission, registering EGP 136,000. It added EGP 3,000 to the ‘Super Saloon’ segment of this model. The price of Sentra was increased by EGP 5,000 to reach EGP 177,000 for the ‘full option’ segment.

Mitsubishi, Daihatsu, and Suzuki maintained their prices as they were in August.

The tour by Daily News Egypt of Japanese brands in August showed that Mitsubishi added EGP 3,000 to the price of Lancer, registering EGP 163,000 for the first segment; while it increased the price of Attrage by EGP 8,000.

In addition, Subaru added EGP 5,000 to the price of its XV, registering EGP 265,000.

Furthermore, Nissan increased the price of Sunny ‘Super Saloon’ in August by about EGP 2,000, while the price of Sentra increased by EGP 8,000 for the first segment, reaching EGP 165,000. The price of the ‘full option’ segment was increased by EGP 4,500, to register EGP 172,000.

Suzuki added EGP 1,000 to the price of Swift, registering EGP 155,000, while it maintained the prices of the rest of its models as they were in July.

Toyota, Daihatsu, Honda, and Mazda maintained their prices in August as they were in June and July.

Geely and Chery lead price hikes across Chinese brands

Geely and Chery are leading the price increases across Chinese brands in Egypt.

Geely increased the price of its Pandino by EGP 3,000, raising the price of its first segment (manual transmission) to EGP 92,000, while the automatic transmission version of the first segment has increased to EGP 104,000.

Geely also added EGP 3,000 to the XPandino, raising the price of its first segment to EGP 113,000. In addition, the company increased the price of the Emgrand 7 by EGP 600, raising it to EGP 116,500.

Chery has added EGP 2,500 to the price of its Envy, registering EGP 103,500.

Brilliance, on the other hand, has maintained its prices from August.

The figures of the last month showed that Brilliance increased the price of its V5 to EGP 186,000, an increase of EGP 11,000, while the price of the H330 increased by about EGP 10,000 to reach EGP 135,000.

Geely increased the price of its Emgrand7 by about EGP 500, registering EGP 112,000, while it maintained its prices from July for the rest of its models.

In addition, Chery maintained the prices of Envy and Tiggo in August as they were in July.

2European-origin Opel, Citroen, Renault, BMW see price increases

Daily News Egypt notes an increase in the prices of 69 European brands in early September, including Opel, BMW, Mercedes-Benz, Seat, Fiat, Renault, Volvo, Peugeot, Citroen, Audi, Volkswagen, Skoda, and Mini.

Opel increased the prices of Astra and Meriva by EGP 23,000 to reach EGP 245,000 and EGP 248,000, respectively. It also increased the price of Corsa by EGP 4,000 to reach EGP 189,000; Insignia by EGP 30,000 recording EGP 350,000; Cascada by EGP 45,000 recording EGP 475,000; Adam by EGP 15,000 recording EGP 215,000; and Mokka by EGP 20,000 to reach EGP 310,000.

Peugeot raised the price of just one model: the 508 by EGP 30,500 to reach EGP 330,000.

Volvo added EGP 50,000 on to the price of S80 and XC90 to record EGP 538,000 and EGP 960,000, respectively.

Citroen lifted the price of C5 and DS5 by EGP 30,000 to reach EGP 289,800 and EGP 369,800 respectively; C4 by EGP 61,000 recording EGP 279,800; DS3, DS4 and C-Elysee by EGP 10,000; C4 Picasso by EGP 20,000; and C4 Grand Picasso by EGP 31,000 to reach EGP 329,800.

Fiat raised the price of Tipo by EGP 25,000 recording EGP 199,900; Doblo and 500 by EGP 10,000 to reach EGP 164,900 and EGP 244,900, respectively; Qubo and X500 by EGP 20,000 recording EGP 154,900 and EGP 284,900, respectively; and the 500C by EGP 15,000.

Renault also raised its prices. Duster, Fluence, Megane, and Logan with manual transmission were increased by EGP 5,000; Sandero Stepway and Logan with automatic transmission by EGP 7,000; and Sandero by EGP 3,000. The French carmaker increased the price of its Captur and Kadjar models by EGP 15,000.

Audi lifted the price of just one of its models, after a series of price hikes across several models last month. The price of its A3 hatchback was increased by EGP 50,000 to reach EGP 345,000.

BMW also increased the prices of its cars by EGP 10,000-60,000, including I118, I218, I318, I320, I330, I340, I418, I520, I528, I535, X1, X3, X4, X5, and X6.

Seat raised the price of Leon by EGP 22,100 to register EGP 220,000.

Mercedes, Jaguar, Skoda, and Volkswagen maintained last month’s prices.

Daily News Egypt toured the market last month and found that Opel raised the prices of Mokka by EGP 30,000 to reach EGP 290,000. Volvo also increased the price of S60 by about EGP 40,000 recording EGP 458,000.

Citroen raised the price of C4 by about EGP 14,000 to register EGP 218,000, while C4 Picasso and C4 Grand Picasso increased by EGP 9,000.

On the other hand, Fiat decreased the price of X500 by about EGP 3,000 to reach EGP 265,000.

Renault also raised the prices of Duster and Fluence, Logan, Megan, and Sandero in August by about EGP 2,000, while Sandero Stepway with automatic transmission was increased by about EGP 6,000 to reach EGP 160,000.

Audi lifted the price of its A3 by about EGP 80,000 to reach EGP 395,000; A4 by EGP 84,000; Q7 by EGP 160,000 to reach EGP 1.54m; A6 and Q5 by EGP 140,000; and Q3 by EGP 80,000 to record EGP 470,000.

Volkswagen lifted the price of Passat by about EGP 26,000 to reach EGP 315,000.

Peugeot, Mercedes, Jaguar, Skoda, and Seat had maintained the previous month’s prices.

Kia and Hyundai amend their pricing policies

Kia raised the price of Carens by EGP 36,000, boosting the price tag on its first class to EGP 295,000. The price of the New Cerato was pushed up by EGP 19,000 to register EGP 219,000. Kia Rio’s price increased by 24,000, bringing its first class up to EGP 149,000. Kia Soul’s price increased by EGP 25,000, bringing its high-line up to EGP 335,000. Kia also raised the price of Sportage by EGP 36,000 to record EGP 355,000 for class EX, whereas Cee’d increased by EGP 20,000 to reach EGP 240,000.

Hyundai increased the price of Verna 2017 manual model by EGP 4,000, to reach EGP 108,000, while the automatic class reached EGP 125,500. The older manual model, Verna 2016, reached EGP 105,000, and the automatic class reached EGP 122,500.

Hyundai also increased the price of Elantra I10 by EGP 3,000 to begin at EGP 107,500; Grand i10 by EGP 4,000 up to a price of EGP 124,500; Elantra AD by EGP 6,000 up to the price of EGP 205,000; while Elantra HD was increased by EGP 3,000 to begin at EGP 162,000.

The price of Accent was lifted by EGP 3,500 to begin at EGP 166,000; Solaris by EGP 11,000; Tucson by EGP 6,000 on its hatchback class; and Creta by EGP 7,000 to register EGP 220,000.

The Korean brands, Kia and Hyundai, maintained the stability of July’s prices for August, whereas a number of traders and distributors are reported to have suspended sales and pricing processes until the US dollar’s price is stable against the pound.

EGP 15,000 increase in Proton Gen 2 and Persona

The Malaysian brand Proton has increased all its Gen 2 and Persona models by EGP 15,100—the first class of both cars reached EGP 175,000, and the second class reached EGP 169,000.

Proton, representative of the Asian market, maintained the stability of the prices of its two cars Gen 2 and Persona in August to remain as they were in July.

The prices of the first class of both cars reached EGP 153,000, the second class EGP 159,000, in addition to the new Preve for EGP 200,000.

 

 

 

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https://www.dailynewsegypt.com/2016/09/06/low-supplies-cause-car-prices-rise-september/
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