06:46 PM
Thursday 25 August 2022
Books – Muhammad Al-Rubi:
Recently, advertisements for new “Zero” cars have spread on the Internet at exaggerated prices, and as we are used to, these cars are owned by a number of exploiters of the “consumer-trader” phenomenon. At rates and levels never seen before in the Egyptian car market.
Overprice did not hide from the ground up
Alaa Al-Saba, Chairman of the Board of Directors of Al-Saba Automotive, and a member of the Automotive Division of the Federation of Chambers of Commerce, said that Overprice did not disappear from the ground up in order to appear once more, and that the 5% decision issued by the Consumer Protection Agency was to calm the situation.
Al-Sabaa added in a statement to “Masrawy” that it is impossible to compulsorily determine the price of any commodity in the world, and that all commodity prices have risen, so why specify the prices of cars specifically?
He stressed that he warned once morest the worsening of the current crisis regarding 4 months ago, and said at the time that the prices of cars, which amount to half a million pounds, would rise to one million pounds, and that setting the price of a particular commodity would raise its real price.
Al-Sabaa believes that the situation of the auto sector is not promising at all, and that the sector will witness additional price increases, especially with the deterioration of external conditions, due to inflation, the energy crisis and the supply chain crisis.
The market is over
Osama Abul-Magd, head of the Association of Car Dealers, confirmed the return of the highest price to levels that the Egyptian car market had never seen before, even on cars that dealers offered discounts for before the “disaster” that the sector was going through, as he described it.
“Where is the car market? There are no cars, the market is over,” Abul-Magd wondered, adding that the car sector was at its worst.
Abul-Magd gave an example of this with the new Kia Sportage, whose price following the over-price amounted to one million and 200 thousand pounds, Toyota at a price of 900 thousand pounds following the over-price, and Renault Stepway, whose over-price amounted to approximately 140 thousand pounds.
He revealed that despite this, the movement of selling these cars is very weak, and that dealers pay taxes imposed on the over-price amounts.
Why focus on “cars”?
Ahmed Al-Ghurab, sales manager at B-Auto, said that most of the auto sector is committed to the additional 5% imposed under consumer protection decisions.
The crow added that all prices of goods are imposed on him by “over-price”, and gave an example of a “bag” he had bought two months ago for 250 pounds, then he bought a new copy of it and was surprised that its price reached 500 pounds, a 100% increase.
The crow added that there are basic commodities such as oil and sugar that have risen in price in varying degrees, in addition to durable electrical appliances in the home whose prices have gone up and disappeared from the market.
The crow wondered why the focus on cars and not on other goods, despite them being recreational goods to some extent and despite the fact that the rest of the goods are considered strategic goods that affect all Egyptian homes!
How to return the over-price without cars?
Montaser Zaitoun, a member of the Board of Directors of the Automotive Division of the General Federation of Chambers of Commerce, denied the return of over-price once more, and he justified that there is a sharp drop in available cars, so over-price cannot be imposed.
Zeitoun likened the prices of new cars to which ridiculous sums are added to being “used” cars, and added that whoever has a new car will price it as he likes.
Zeytoun confirmed the impossibility of returning the Overprice now due to the disappearance of cars from the market, and added that there are certain models that have disappeared, as an example of this is the Skoda Octavia, which the Czech brand’s agent deleted from the official price list due to its unavailability.
He pointed out that there are very few new cars on the market and they are on the way to completion, and that there are cars available and most of them are homemade, such as BYD F3 and Lada Granta.
