The new year for the automotive industry has begun with price increases across 131 models from every famous brand in the automotive market.
This rise in prices came amid new estimates set by car companies on the cost of imported cars and their components in US dollars after the Central Bank of Egypt’s (CBE) decision to liberalise the exchange rate.
The price increases were applied to German models Opel and Volkswagen, Korean models Hyundai and Kia, American Chevrolet and Jeep, and Japanese Mitsubishi and Toyota, among others.
The new increase is caused by significant leaps in prices over the past few months in the automotive market, driven by the rise in customs dollar prices, which doubled the tariff on cars cost.
Customs on cars used to be paid in the official price of the US dollar which was EGP 8.80 in November before the decision to float the Egyptian pound was made. The customs dollar currently is almost EGP 20, an increase of more than 100%.
Daily News Egypt received the new prices of European, Korean, American, Chinese, Japanese, and Asian cars for January.
Chevrolet adds EGP 13,000 to Lanos, Aveo, and Optra
A tour of American-origin cars showed that prices increased in January for several brands and models. The American brand Ford increased the price of its Fusion model by about EGP 55,000 to register EGP 475,000 and increased its Kuga model by about EGP 60,000 to register EGP 510,000.
The price of the Jeep Renegade increased by EGP 25,000, settling at EGP 430,000.
Chevrolet increased its Aveo model price by about EGP 13,000 on all classes. It also increased the two classes of its Optra model by EGP 13,500, and increased its Lanos model by EGP 13,000 for a new price tag of EGP 143,250.
Prices also increased in December. The American brand Ford raised the price of its Fusion model by about EGP 30,000, settling at EGP 420,000, and raised its Kuga model by about EGP 35,000 to reach EGP 450,000.
Ford also increased its Focus model by EGP 25,000 to register EGP 250,000, and increased its EcoSport model by EGP 29,000 to reach EGP 354,000.
Jeep raised its Renegade model by EGP 40,000 to reach EGP 405,000.
Chevrolet increased its Aveo model by about EGP 15,000 for all classes. They also increased the price of the Optra model by EGP 20,000 and increased the Lanos model by EGP 10,000 to reach EGP 130,250.
Toyota keeps pace with price increases
A tour of the Japanese automotive market in Egypt showed that Mitsubishi raised the price of the first class Lancer EX by EGP 10,000 to reach EGP 225,000.
Toyota raised the price of its 2,700 cc Fortuner model by EGP 130,000 to register EGP 760,000, and raised the price of its Corolla model by EGP 65,000 to register EGP 325,000.
Toyota also increased the price of its Yaris model by EGP 74,000 to reach EGP 290,000, increased its Avanza model by EGP 151,000 to reach EGP 380,000, and raised the price of its Auris model by EGP 125,000 to register EGP 355,000.
Honda increased the price of its Civic model by EGP 5,000 to reach EGP 365,000.
A tour of Japanese cars in November showed that Mitsubishi increased its first class Lancer model by EGP 20,000 to reach EGP 215,000.
Subaru increased its Impreza model by EGP 84,000 to reach EGP 374,000 and increased its XV model by EGP 129,000 to reach EGP 449,000.
Toyota increased its 2,700 cc and 4000 cc Fortuner model by EGP 75,000 to reach EGP 530,000, while keeping prices of its other models unchanged.
Mazda raised the price of its Mazda 3 model by EGP 40,000 to reach EGP 351,000, and increased its Mazda 2 model by EGP 35,000 to register EGP 297,000.
Nissan increased the price of its Sunny model by about EGP 5,000 on the automatic version to reach EGP 190,000, and increased the Super Salon class to EGP 210,000. It also increased the price of its full options Sentra model by about EGP 12,000 to register EGP 250,000.
Honda had kept its prices unchanged since November.
Chery raises price of Tiggo by EGP 10,000, Emgrand 7 reaches EGP 165,000
The Chinese brand Geely increased its first class Emgrand 7 model by EGP 5,000 to reach EGP 164,000.
Ghabbour Auto decreased the price of Geely Pandino and Geely X Pandino by EGP 5,000.
Chery increased its Envy model by EGP 5,500 to reach EGP 153,500 and increased its Tiggo model by EGP 10,000 to register EGP 222,000.
Brilliance kept its V5 model price unchanged, which amounts to EGP 280,000.
A tour of Chinese cars last month revealed that the Chinese brand Geely increased the price of the Pandino and the X Pandino by EGP 15,000 each. The X Pandino’s price settled at EGP 151,500, while Geely also raised the price of the Emgrand 7 by EGP 17,500 to reach EGP 159,000.
Chery raised the price of its Envy model by EGP 14,500 to register EGP 148,000, and increased its Tiggo model by EGP 25,000 to reach EGP 212,000.
Brilliance increased the price of its V5 by about EGP 20,000 to reach EGP 280,000.
Prices of 79 European models increase in January
Daily News Egypt spotted an increase in the prices of the European car models Opel, Seat, Fiat, Renault, Volvo, Peugeot, Citroen, Mercedes, MINI, Audi, and BMW.
Opel increased the price of several cars. Astra’s price increased by EGP 20,000 to register EGP 320,000, and the Corsa’s by EGP 15,000 to register EGP 255,000. Insignia’s price increased by EGP 30,000 to register EGP 450,000, and Cascada’s price increased by EGP 30,000 to register EGP 600,000. The price of Meriva increased by EGP 25,000 to register EGP 300,000, and Mokka’s price increased by EGP 30,000 to register EGP 360,000.
Peugeot increased the price of its 2008 models by EGP 7,000 to register EGP 247,000, and the 3008’s price by EGP 85,000 to register EGP 415,000. The 301’s price increased by EGP 70,000 to register EGP 260,000 for the automatic category, and 5008’s price increased by EGP 85,000 to register EGP 420,000.
Mercedes increased its A200 model’s price by EGP 61,000 to register EGP 566,000, and B180’s price by EGP 71,000 to register EGP 601,000. The C180’s price increased by EGP 61,000 to register EGP 760,000, and CLA180’s price increased by EGP 47,000 to register EGP 555,000.The price of E180 increased by EGP 90,000, and GLA200 by EGP 76,000 to register EGP 626,000; S400’s price increased by EGP 225,000 to register EGP 2.47m.
Volvo increased the price of its S60 by EGP 80,000 to register EGP 648,000.
The French Citroen raised the prices of the C5 by EGP 15,000 to register EGP 415,000; C4 by EGP 15,000 to register EGP 335,000; C4 Picasso by EGP 70,000; C4 Grand Picasso by EGP 60,000 to register EGP 500,000; and C-Elysee by EGP 5,000.
Renault also raised the prices of Duster by EGP 5,000 to register EGP 262,000.
Audi also raised the prices of the A3 Hatchback by EGP 20,000 to register EGP 545,000; the A4 by EGP 24,000; the Q7 by EGP 160,000 to register EGP 2.25m; and the A6 by EGP 160,000 to register EGP 1.35m. Volkswagen raised the price of the Golf by EGP 24,000 to register EGP 449,000; and the Tiguan by EGP 50,000 to register EGP 650,000
BMW’s price increases ranged between EGP 25,000 and EGP 450,000 .
In December, Opel increased the prices of Astra by EGP 30,000 to register EGP 300,000 and the Corsa by EGP 25,000 to register EGP 240,000. The Insignia’s price increased by EGP 30,000 to register EGP 420,000, and Cascada’s price increased by EGP 50,000 to register EGP 570,000.The price of Meriva increased by EGP 15,000 to register EGP 275,000, and Mokka’s price increased by EGP 15,000 to register EGP 330,000.
Mercedes increased the price of the A200 by EGP 50,000 to register EGP 505,000, and the B180’s price by EGP 58,000 to register EGP 523,000. The C180’s price increased by EGP 78,000 to register EGP 699,000, and the CLA180’s price increased by EGP 58,000 to register EGP 568,000.The price of the E180 increased by EGP 90,000, the GLA200 by EGP 53,000 to register EGP 478,000; and the S400’s price increased by EGP 235,000.
Volvo increased the price of its S60 model by EGP 50,000 to register EGP 568,000, and dropped the price of the S80 by EGP 10,000 to register EGP 658,000.
The French Citroen raised the prices of its C5 model by EGP 10,000 to register EGP 400,000; C4 by EGP 10,000 to register EGP 319,000; C4 Picasso by EGP 10,000; and the C4 Grand Picasso by EGP 20,000 to register EGP 440,000.
Fiat had also increased the price of the Punto by EGP 5,000 to reach EGP 184,900, and the X500 by EGP 20,000 to register EGP 370,000, while prices of the 500 and 500c were reduced by EGP 10,000.
Renault also raised the prices of the Duster by EGP 53,000 to register EGP 277,000; the Logan manual by EGP 22,000 to register EGP 165,000; the Logan automatic by EGP 27,000 to register EGP 190,000; the Sandero by EGP 29,000; and the Sandero Stepway automatic category by EGP 29,000 to register EGP 226,000.
Audi had increased the price of its A3 Hatchback by EGP 60,000 to reach EGP 525,000, and the A4 by EGP 76,000. It also raised the price of the Q7 by EGP 180,000 to record EGP 2.09m. The cost of a Volkswagen Golf had risen by EGP 65,000 to reach EGP 425,000, and the Tiguan by EGP 70,000 to register EGP 600,000.
Seat had increased the price of the Ibiza by EGP 45,100 reaching EGP 255,000. BMW meanwhile had increased the cost of their cars by EGP 25,000-100,000.
Peugeot, Jaguar, and Skoda maintained their November prices.
Picanto’s price jumps to EGP 220,000, Verna’s new price settles at EGP 158,500
Kia increased the prices of the Rio, Picanto, and Soul by EGP 5,000. The price of the Rio, Picanto, and Soul first class variants reached EGP 303,000, EGP 220,000, and EGP 365,000, respectively. The cost of the Kia Sportage increased by EGP 25,000, and the Kia Ceed increased by EGP 20,000.
Hyundai meanwhile increased the price of its 2017 Verna with manual transmission by EGP 5,000, settling at EGP 158,500. The price of the Verna automatic transmission model increased by EGP 5,000, settling at EGP 192,500. Hyundai increased the price of the i10 by EGP 5,000, with its base model now costing EGP 170,000, and the Grand i10 by EGP 10,000, settling at EGP 197,000. The price of the Elantra AD rose by EGP 14,000 with base models costing EGP 325,000, and the Elantra HD by EGP 7,000, settling at EGP 260,000.
Hyundai also added EGP 10,000 to the prices of the Accent and Solaris, raising Accent’s starting price to EGP 255,000. The price of the Tuscan increased by EGP 20,000.
In December, the two Korean brands also increased their prices. Kia increased the price of the Rio by EGP 65,000, the Picanto by EGP 45,000, and the Soul by EGP 85,000. The price of the Rio, Picanto, and Soul first class variants reached EGP 298,000, EGP 215,000, and EGP 360,000, respectively. The cost of a Kia Sportage increased by EGP 80,000 and the Ceed increased by EGP 50,000.
Hyundai meanwhile increased the price of its 2017 Verna with manual transmission by EGP 15,000, settling at EGP 153,000. The automatic transmission model increased by EGP 20,000, settling at EGP 187,000. The price of the i10 increased by EGP 20,000, with its base model now costing EGP 165,000. The price of the Elantra AD rose by EGP 45,000 with base models costing EGP 311,000, and the Elantra HD by EGP 35,000, settling at EGP 253,000.
Hyundai also added EGP 30,000 to the price of the Accent, raising its starting price to EGP 245,000. Hyundai also added EGP 60,000 to the Creta, raising its price to EGP 345,000. The price of the Solaris increased by EGP 30,000, and the Tuscan’s by EGP 80,000.
Lada and Proton increase prices by EGP 30,000-36,000
Lada increased Granta’s price by EGP 36,000, settling at EGP 190,000, while Proton increased its Gen 2 and Persona models’ prices by EGP 30,000.
In December, Lada had increased Granta’s price by EGP 44,000, settling at EGP 54,000, while Proton had increased Gen 2 and Persona prices by EGP 21,100.
