Abou El Magd Advises Delaying Used Car Purchases for Now

Osama Abou El Magd, head of the Egyptian Car Dealers Association, stated during a television interview that there is a clear distinction between buying new cars and used cars at the present time. He emphasized that anyone looking to purchase a new car should make the decision immediately, given the current price stability.

Buying a Used Car: A Necessity, Not a Choice

Regarding used cars, Abou El Magd advised that those who already own a functional used vehicle should focus on maintaining it and continuing to use it, rather than buying another used car amid the current unstable market conditions. He added that purchasing a used car now should only be considered as an emergency solution for those whose cars are completely broken down or in very poor condition, leaving them with no other option.

Remarks That May Not Please Used Car Dealers

Abou El Magd acknowledged that used car dealers might criticize his statements, as they could lead to a decline in sales. However, he reaffirmed his commitment to transparency, stressing that consumer interests come first.

Egypt to Host 9 Car Factories in 2025

In another context, Abou El Magd revealed that Egypt is the largest Arab country to benefit from the ongoing cold war between China and the United States. This geopolitical shift has led to the transfer of production lines for nine Chinese car factories to Egypt in 2025, with the rest expected to arrive in 2026. He indicated that the total number could reach 40 factories by the end of 2026. He also noted that the number of automotive component manufacturing plants in Egypt has surged from 350 to over 1,000 factories.