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The decision was well received by car dealers Who said a number of them to the site "Sky News Arabia" It will help move slack Which hit the new car market after the dollar rose and interest rates were raised.
The decision comes hours after the Egyptian President directed Abdel Fattah Sisi Excluding production requirements and raw materials from the procedures that were applied to the import process, by returning to the old system through collection documents.
According to a statement obtained "Sky News Arabia"Approved Minister of Trade and Industry On the immediate release of cars that were registered on the pre-registration system for shipments (ACII got an identification numberACID) After the Industrial Control Authority made sure that the cars fulfilled Ministerial Resolution No. 9 of 2022 regarding the requirements for releasing incoming passenger cars for trade up to 7 seats other than the driver.
It also stressed the need for importing companies to pay the full value of the cars to the supplier companies, in order to provide the cars reserved for consumers from the importing companies.
The minister called on importing companies to comply with the decision in order not to repeat violations, and to abide by obtaining prior approval from the Industrial Control Authority before contracting to avoid delaying the release of cars.
Causes of stagnation
And car dealer Mustafa Al-Ghamry returned stagnation new car market Recently, prices have risen after the dollar rose and the Ukrainian crisis that affected shipping, which prompted most buyers to used carsbecause it is cheaper.
According to the latest data of the Egyptian Statistics Authority, Egypt’s imports of passenger cars recorded a remarkable increase by the end of 2021, which amounted to about 3.574 billion dollars, compared to about 2.766 billion dollars during the year 2020, an increase of 29 percent.
Passenger car sales increased "Malaki" During the first quarter of 2022, it recorded 55,532 thousand cars, compared to 50,758 thousand cars during the same period in 2021, with a growth of 9.4 percent, according to a report by the Automotive Market Information Council. "your mom".
However, passenger car sales fell in March by 3 percent to 18,943 thousand cars, compared to 19,525 thousand cars during the same month of 2021.
Sales of trucks of all categories decreased by 16 percent to 10,401 vehicles, compared to 12,362 trucks in the same comparison period.
The Secretary-General of the Association of Automobile Manufacturers in Egypt, Khaled Saad, expected that in the event of the continuing crises that afflict the global and local auto industry, it may be very difficult to reach the sales levels recorded last year.
He pointed out that Egypt’s imports of cars have recently declined in a way that does not meet the market’s need, due to problems facing global factories in managing their needs for components, especially electronic chips, in a way that prompted them to completely or partially close some of their production lines, and importing companies are also facing a severe crisis in international shipping prices. .
It is noteworthy that the Ministry of Commerce and Industry issued in early January a decision specifying the requirements for the release of Class A passenger cars M1 Incoming for trade up to 7 seats other than the driver, including the presence of approved maintenance centers according to your geographical distribution, whose capacity for service is commensurate with the number of vehicles sold annually in the local market, and the availability of basic spare parts related to maintenance schedules issued by the producing companies so that they cover a minimum of 15 percent of the number of vehicles In order to ensure the conditions of safety and security.
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The decision was well received by car dealers A number of whom told “Sky News Arabia” that they will contribute to moving slack Which hit the new car market after the dollar rose and interest rates were raised.
The decision comes hours after the Egyptian President directed Abdel Fattah Sisi Excluding production requirements and raw materials from the procedures that were applied to the import process, by returning to the old system through collection documents.
According to a statement obtained by “Sky News Arabia”, I agreed Minister of Trade and Industry On the immediate release of cars that were registered on the pre-registration system for shipments (ACII got an identification numberACID) After the Industrial Control Authority made sure that the cars fulfilled Ministerial Resolution No. 9 of 2022 regarding the requirements for releasing incoming passenger cars for trade up to 7 seats other than the driver.
It also stressed the need for importing companies to pay the full value of the cars to the supplier companies, in order to provide the cars reserved for consumers from the importing companies.
The minister called on importing companies to comply with the decision in order not to repeat violations, and to abide by obtaining prior approval from the Industrial Control Authority before contracting to avoid delaying the release of cars.
Causes of stagnation
And car dealer Mustafa Al-Ghamry returned stagnation new car market Recently, prices have risen after the dollar rose and the Ukrainian crisis that affected shipping, which prompted most buyers to used carsbecause it is cheaper.
According to the latest data of the Egyptian Statistics Authority, Egypt’s imports of passenger cars recorded a remarkable increase by the end of 2021, which amounted to about 3.574 billion dollars, compared to about 2.766 billion dollars during the year 2020, an increase of 29 percent.
Sales of “angel” passenger cars increased during the first quarter of 2022 to record 55,532 thousand cars, compared to 50,758 thousand cars during the same period of 2021, with a growth of 9.4 percent, according to a report by the Automotive Market Information Council “AMIC”.
However, passenger car sales fell in March by 3 percent to 18,943 thousand cars, compared to 19,525 thousand cars during the same month of 2021.
Sales of trucks of all categories decreased by 16 percent to 10,401 vehicles, compared to 12,362 trucks in the same comparison period.
The Secretary-General of the Association of Automobile Manufacturers in Egypt, Khaled Saad, expected that in the event of the continuing crises that afflict the global and local auto industry, it may be very difficult to reach the sales levels recorded last year.
He pointed out that Egypt’s imports of cars have recently declined in a way that does not meet the market’s need, due to problems facing global factories in managing their needs for components, especially electronic chips, in a way that prompted them to completely or partially close some of their production lines, and importing companies are also facing a severe crisis in international shipping prices. .
It is noteworthy that the Ministry of Commerce and Industry issued in early January a decision specifying the requirements for the release of Class A passenger cars M1 Incoming for trade up to 7 seats other than the driver, including the presence of approved maintenance centers according to your geographical distribution, whose capacity for service is commensurate with the number of vehicles sold annually in the local market, and the availability of basic spare parts related to maintenance schedules issued by the producing companies so that they cover a minimum of 15 percent of the number of vehicles This is to ensure safety and security conditions.