The Egyptian Automotive & Trading Company’s Board of Directors has decided to designate Karim Naggar Bassily as its General Manager, granting him all administrative and executive powers related to this position.
The decision came in the context of the recently held meeting, presided over by Miral El-Naggar, the company’s Chairman. Throughout the meeting, the issues and challenges currently facing the company were discussed, particularly under the increasing demand for its products that include Volkswagen and Audi cars.
This also takes into account the fact that the company is unable to meet the market’s needs, due to a lack of foreign currency in the official market.
The shortage of foreign currency has led to a decrease in displayed cars and the provision of their spare parts, as well as longer waiting times.
The Board of Directors decided to hold business sessions with some banks to request that they cover the company’s foreign currency needs. The move aims to overcome this crisis and recover activities to normal levels, especially as many automotive companies are suffering from this dilemma.
The company’s Board of Directors also discussed some technical and administrative issues to improve the company’s performance and to provide a special service for its clients.
