In a move that indicates the negative effects of the price increases that have accompanied the recent movement in the dollar’s prices since the end of last March, and the shortage of supply, in addition to the negative effects of the Russian war on Ukraine, the Al-Amal Automobile Composition and Manufacturing Company, manufacturer of “Lada” and “BYD” automobiles, has decided And the “King Long” minibus has cut its production targets in half, compared to its sales volume last year, which amounts to has 11,000 vehicles, indicating his plan to deliver only 5,500 vehicles this year, after planning to increase it by 30%, according to previous statements.
Amr Hassan Suleiman, Chairman of the Board of Directors of Al-Amal Automotive, stated in statements to Al-Mal that the rise in the price of the dollar against the Egyptian pound by up to 16% since last March 21 has caused a significant increase has. in the prices of all imported cars, which are compiled locally, which may indicate a significant increase in the price of imported cars.To expose the car market in Egypt to a state of stagnation.
“Lada Granta” prices rose by 12% to 18% with the movement of the dollar price in Egypt, which increased the price of the first category by a value of up to 21 thousand pounds, while the second category with a estimated value of 35 thousand and 500 pounds.
On the other hand, the prices of BYD F3 cars have risen due to the rise in dollar prices with a value ranging from 18 thousand to 34 thousand and 500 pounds, with an increase of 9% to 15% while the price of “BYD L3” jumped by up to 34 1 500 pounds, with increases ranging from 14% to 15%.
In a report issued by Al-Mal, Al-Mal monitored the increases in car prices in Egypt during the first month of the dollar movement, and the increase in the interest rate, which ranged from 2% to 32% , with a value ranging from 5,000 to 350 thousand pounds.
He explained that there were many other factors that prompted the company to make such a decision, including the continuation of the Russian war against Ukraine, and the difficulty in importing components for the manufacture of Lada Granta cars, and at the same time emphasizes that the stock of components for the manufacture of the car imported from Russia is sufficient for a period varying from one month. A month and a half ago, it disrupted the company’s plan, which it announced earlier this year, which aims to supply and sell nearly 4,000 of them, either to direct customers, or through the presidential initiative to replace and renew obsolete vehicles with new dual fuel vehicles (natural gas – petrol). ».
And he continued: The huge increases in shipping, in addition to the closures announced from time to time by the Beijing authorities with the aim of controlling the emerging Corna virus and its variants, have also disrupted shipments of components for Chinese cars causing “Al-Amal” to come together in Egypt, referring to each of the cars.B Valley D with its L3 and F3 models, which belong to the four-door family sedan category, and a 14-passenger King Long microbus.
According to data released by the Automobile Market Information Council in Egypt (AMIC), Al-Amal Automotive Group’s sales of its three brands fell by up to 30.4% during the first quarter of this year from January to the end of March 2022. , up to 2,689 cars compared to its sales during the same period last year, which amounted to 3,618 vehicles.
The month of March witnessed a growth in the company’s sales, according to AMIC, which amounted to 8.2%, which brought the company’s deliveries of brands during March 2022 to 956 cars, compared to 878 vehicles that during the same month was sold last year.
BYD was at the top of the top-selling brands, as it managed to deliver 1,297 cars during the first quarter of 2022, compared to 1,545 vehicles sold during the same period last year, a decrease of 19.1%.
The Russian brand “Lada” came in second place on the list after it managed to achieve a growth in sales of up to 32.6% despite the economic sanctions imposed by the United States against Moscow due to the war against Ukraine, to be able to deliver 1 070 cars this year, compared to 721 vehicles sold.During the first quarter of last year.
Sales of “King Long” minibuses have dropped very significantly, at a rate of 322%, to 322 vehicles this year, compared to 1,352 minibuses sold during the first quarter of last year.
In terms of performance of the three brands during the month of March alone, BYD achieved a slight growth of 3.8% this year to 452 vehicles, compared to 435 units sold during March 2021, and Lada has a growth of 56.6% to rise to 399 cars. , compared to 173 vehicles during the same month last year.
As far as King Long is concerned, its sales fell by 157% to 105 vehicles at the end of March this year, compared to 270 units sold last year.
Hope sales during the first quarter
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Source: AMIC report
Hope sales during the month of March
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Source: AMIC Prepared – Money