Most car companies started the New Year by keeping the prices of their models unchanged, thus ending some customer hopes of a price drop.
Price lists show that market outlook will continue, after a sharp drop in sales in 2017, a 40% decline in sales compared to 2016.
With the exception of minor adjustments to the prices of Renault, Toyota, and Hyundai, the majority of companies started January with the same prices of December.
Daily News Egypt has already tracked the rate of change in car prices and its upward journey, which began in mid-2016, and intensified after the exchange rate was released in early November of the same year.
Companies raised prices for December 2017, with varying amounts, making it difficult for the market to improve sales figures by the end of the year, and then decided to fix them in the New Year.
BMW, Hyundai, Chery, Toyota, Opel, Mitsubishi, Renault, Ford, and Nissan topped the price fixing list.
The BMW i520 stands at EGP 1.25m
The German brand marked the price of its car early this January, to be the same as December prices.
BMW has already raised the price of i520 by EGP 150,000 last December to reach EGP 1.25m, while reducing the «X1» price by about EGP 60,000 to EGP 690,000.
«Emgrand 7» worth EGP 175,000
Ghabbour Auto, the agent of Chinese brand Geely, kept prices unchanged in December.
Ghabbour Auto, which raised the price of its Geely Emgrand 7 last month, rose EGP 11,000 to reach EGP 175,000.
Envy and Tiggo for EGP160,000 and EGP 233,000 respectively
The Chinese brand “Chery” kept the prices of “Envy” at EGP 160,000, and “Tiggo” at EGP 233,000.
Ghabbour Auto has raised the price of Chery by about EGP 16,500 on “Envy” and EGP 40,500 on “Tiggo”, from November 2016 and November 2017.
«Hyundai Verna» starts from EGP 158,500
Hyundai lowered the price of its car “Verna – Manual” to reach EGP 158,500 in January, while preserving December prices for the rest of the models.
Previously, Hyundai added EGP 7,000 last December to the price of Verna to reach EGP 184,900 in the category of automatic, and EGP 12,000 on «Elantra HD» to EGP 246,000, and EGP 7,500 on the price of «Accent» to reach EGP 249,900, and EGP 13,000 on the «Tuscan».
The price increase rate in Hyundai models ranged from 7% to 42%, adding about EGP 15,500 to the price of “Verna” since the floating decision to reach EGP 153,900, while adding EGP 41,000 to the price of “I10”, EGP 68,000 on Grand I10, and EGP 34,000 on Elantra AD, EGP16,000 on Elantra HD, EGP 27,500 on Accent, EGP 32,000 on Solaris, and EGP 80,000 on Creta as the biggest price jump remains EGP 74,000 on Tuscan, and EGP 28,500 on the I30.
«Toyota» drops “Yaris” price reaching EGP 230,000
“Toyota” lowered the price of “Yaris” EGP 5,000, to record EGP 230,000 for the first category, while keeping December prices for the rest of their models.
Last month, Toyota added EGP 5,000 to the price of Corolla, while keeping November prices for the rest of the models.
Since the decision to float the pound, the price policy of Toyota has been very exaggerated. The prices of its models have increased by 33.5% to 129.5%.
«Opel Insignia» for EGP 325,000
Opel has taken its December prices to continue in January.
Last year, Opel raised the price of its car, “Insignia”, by about EGP 15,000 to EGP 480,000, while the rest of the money settled.
Until the end of October 2017, figures show that Opel has increased its car prices since the pound liberalisation decision by 17 – 52%, adding EGP 55,000 to the price of «Astra» to reach EGP 325,000, keeping the same value for «Corsa», while adding EGP 75,000 to Insignia, EGP 130,000 to Cascada, EGP 119,000 on Adam, EGP 54,000 on Mokka, and EGP 59,000 on Meriva.
“Mitsubishi” decided to keep December prices unchanged.
Last December, the Japanese brand raised Lancer price by EGP 17,000 pounds to EGP 264,900 in its first class and EGP 296,900 in the highest category.
Renault Sandero retreated EGP 216,000
The Renault brand has lowered the price of its Sandero by EGP 25,000 pounds to record EGP 216,000 for the first category, while keeping last December prices for other models as January prices.
In December, the French brand added EGP 25,000 to the price of its Sandero to reach EGP 241,000, while maintaining November prices for the rest of the models.
Ford stabilised for the third month in a row
Ford was set to keep January 2017 prices fixed to November and December 2016 prices for the third month in a row.
An exception to this stability, «Focus» jumped EGP 41,000 in December to reach EGP 334,000.
A break for Nissan after the December amendments
In a breath-taking, the Japanese brand “Nissan” kept its December prices to be the January prices.
Last month, Nissan raised the price of Sunny by EGP 7,000, Centra to EGP 10,000 to reach EGP 295,000, Qashqai to EGP 19,000 to reach EGP 424,000, and reduced the «Juke Platinum» price by about EGP 30,000 to become EGP 355,000.
Nissan stands out as the brand with the least price changes between November 2016 and November 2017. The price increase ranged between 10.2% and 32.8% compared with its Juke Platinum, which rose 96.13%, up EGP 174,000 from last November. The company raised the Sunny price by EGP 21,000 and EGP 67,000 on the price of «Centra», and EGP 100,000 on «Qashqai».
Kia continues to take a breath after its crazy jumps
KIA kept its November prices to be the December and January prices, continuing to stabilise prices for the fifth month in a row.
Last August Kia added EGP 4,000 to Carens, Cerato, and Soul, EGP 5,000 to Cee’d to start at EGP 365,000, and EGP 3,000 to Rio to record EGP 318,000, and EGP 2,000 on «Picanto» to record EGP 232,000.
The Korean flag witnessed crazy price jumps between mid-2016 to mid-2017.
«Chevrolet Aveo» for EGP 188,800
“Chevrolet” set last December prices to remain the same in January. The price of “Aveo” is EGP 188,800.
Last month, the price of Chevrolet Cruze rose EGP 30,000 to EGP 314,000, while the rest of the prices remain stable.
“Mercedes” absorbs post-floatation leaps
Mercedes preferred to absorb the price hikes that followed the pound float decision and decided to continue its consolidation; sticking to its last price adjustment, four months ago.
Mercedes has already approved increases between 22% and 72%, within a year of the floatation decision.
The company added EGP 234,000 to the price of C180, EGP 165,000 to the CLA180, EGP 500,000 to E180, EGP 305,000 to the GLA200, and EGP 460,000 to the S400.