A member of the Board of Directors of the Automotive Division of the Federation of Egyptian Chambers of Commerce, Montaser Zeitoun, announced that the used car market has witnessed increased demand recently, exceeding 50 percent, despite significantly increased prices.
Zeitoun attributed this demand to the limited supply, coupled with rising prices of brand new cars in recent years.
Used Car Prices
The car market, both new and used, has witnessed significant activity in recent months, he said, noting that any change in prices – whether up or down – is directly linked to the dollar exchange rate at banks.
Nissan Sunny and Chevrolet Car Prices
Zeitoun explained that brands such as Chevrolet, Nissan Sunny, and MG have raised their prices due to delayed deliveries, which has led to a shortage of supply and increased demand.
Car Price Forecasts in Egypt
Regarding expectations for the coming period, Zeitoun indicated the possibility of price increases during the summer months (June, July, August, and September) due to increased demand before Eid al-Adha, the desire of some parents to purchase cars for their high school students before they enter university, and rising demand before the coastal and summer resort seasons.
Edited translation from Al-Masry Al-Youm
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