03:24 PM
Thursday 26 May 2022
Books – Muhammad Jamal:
Alaa Al-Sabaa, a member of the Board of Directors of the Automotive Division, revealed the details of the delay in the supply of new cars to the Egyptian market, and the transfer of some of Egypt’s share to other markets, warning of the disappearance of imported cars from the Egyptian market within 3 months if the problem of documentary credits continues.
Al-Saba attributed the reason for the delay in the delivery of some types of cars to Egypt to the negotiations that are currently taking place between parent companies and brand agents in the local market on the problem of documentary credits, as well as the increased demand in the rest of the global markets, which made the companies temporarily reduce delivery quotas to the Egyptian market until the situation is reconciled and the crises end related to import.
Al-Saba warned, in exclusive statements to Masrawy, that we might reach the stage of a shortage of imported cars in our local market during the next three months, in case the documentary credits are delayed. He said: There will be no cars completely for a period ranging from two to three months.
Al-Saba denounced the description of some of the current crisis as the decision of the mother car companies to stop supplying their cars to Egypt, and said that it was “false information”, explaining that only 7 or 8 international companies stopped delivery in all global markets due to the lack of production they have as a result of global events, the Russian war and the lack of components. and electronic chips.
He added: There are companies that reduced Egypt’s share as a result of some obstacles that hindered the arrival of shipments to international companies, including the suspension of collection documents and the work of documentary credits, which leads to delays in cars at ports.
A member of the Board of Directors of the Automotive Division stressed: The relationship between global car manufacturers and brand agents in the local market is very good, and Egypt has its weight in the region with the parent companies, but the whole truth is “they give an opportunity to the Egyptian local market to finish the current regular client regarding paying for shipments.” the cars”.
Al-Sabaa also denied the information being circulated regarding diverting ships loaded with cars to our local market and directing them to other markets, and said: This is inaccurate and 100% wrong, and ships cannot in any way divert their course because he has a direct order to go to this point, which confirms the impossibility of Violation of concluded agreements.
He explained that what the mother company does following production directly informs the local agent of the time of delivery of the cars, is it the current month or following two or three months, and accordingly the local agent accepts the period or informs him that it is not possible to receive it while giving it to another market with compensation for the next share.
