Price of a Car in Egypt - Find The Average Price for All Used Car

A campaign calling on Egyptians to stop buying new cars to curb price rises has dented sales, but fans say worth need to fall further before cash-strapped clients can go back to new-car showrooms.

With a population of over 98 million, Egypt is a potentially huge market, though just a minority own automobiles.

Most popular models price 200,000 to 350,000 Egyptian pounds ($11,500 to $20,000), nearly 10 times the yearly salary of an average government worker making 3,000 pounds per month.

The motion for cheaper vehicles started several years ago under the motto"Let it rust" -- an appeal to allow vehicles rust in automobile dealership lots -- as Egyptians struck by austerity struggled to make ends meet.

That resulted in a fall in prices, but campaigners say they will need to go lower. They argue traders have hiked prices a lot more than they ought to have, because Egypt's pound was sharply devalued against the dollar in November 2016.

There are the beginnings of cost reductions, but until now, they're not satisfactory for the Egyptian citizen," said Mohamed Rady, creator of"Let it rust"

We are carrying on till we reach a cost and a profit margin which are fair compared with cars overseas," he said.

Luxury car prices dropped by roughly 100,000-150,000 lbs.

Hossam Hassan Abdellatif, the director at Car Mega, a small showroom, stated he sold up to six cars a month and now only sells two or three.

Revenue at Car Samir Rayan, one of Egypt's biggest car dealerships, diminished slightly, said general manager Maged Amir, although the provider's size and standing limited losses.

'Not within my way'

Nationwide, automobile sales fell 42 percent month-on-month in January to 11,460 vehicles, from 19,804 in December, according to data in the Automotive Marketing Information Council (AMIC). January's sales were up 10.8 percent , but this is far below the average monthly year-on-year increase of 39.3 percent from 2017 to 2018.

Fiscal pressure on many Egyptians has intensified since police enacted reforms and austerity measures including the devaluation since late 2016. Shipping prices have risen sharply.

Gamal Ismail, a 59-year-old pensioner who possesses a 2006 Nasr Sahin, a discontinued Egyptian version of a Fiat 131, said he can't afford to buy a new car regardless of his son nagging him to.

Rates aren't in my means," he said, adding they will need to fall by half for him to pay for a new car.

Around 20-22 percent of automobiles imported in 2018 came from Europe, based on Alaa Elsa, a part of the Cairo Chamber of Commerce's automobile division and head of the Elsaba Automotive dealership.

Costs for European cars had fallen in line with forecasts, he said, rejecting claims that automobiles in Egypt were more expensive than in other countries.

The government expects to bolster Egypt's auto sector, mandating last year which automobiles in Egypt have no less than 46 percent locally-manufactured components.

Last month Nile Car Gate, a new entrant to the marketplace with links to Egypt's strong military, guaranteed to help bring down prices. The company promotes itself as the first Egyptian company to import automobiles at a discounted profit margin of 6 per cent.

The business couldn't be reached for comment.

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