Egyptian Automotive Association: Used Car Prices Start at EGP 100,000

Engineer Khaled Saad, Secretary-General of the Egyptian Automotive Manufacturers Association, has revealed that used car prices in the Egyptian market start from under EGP 150,000, with some models dropping as low as EGP 100,000. The statements were made during a phone interview on the “Events of the Hour” program on Extra News channel, where Saad provided a detailed overview of the current used car market landscape.

Key Factors Driving Used Car Valuation

Saad emphasized that used car prices vary significantly depending on several key factors, including technical specifications, model year, color, and overall condition. He noted that whether a car has been involved in accidents and the total kilometers driven are critical in determining the final price. Interestingly, some used vehicles may sell at prices higher than their brand-new counterparts, particularly when they feature rare specifications or exceptional equipment that make them highly sought after among buyers.

Market Averages and Positive Outlook

For cars that meet the average needs of the Egyptian consumer, Saad indicated that prices currently range between approximately EGP 400,000 and EGP 500,000. He stressed that present price levels are notably better than those seen just one or two months ago, sending a positive signal to the market. Looking ahead, Saad explained that price movements over the coming months will depend on multiple factors, most notably currency exchange rates and broader economic conditions, adding that everything will happen in its proper time according to market dynamics.

This announcement comes at a time when the Egyptian used car market is witnessing cautious optimism, with many consumers looking for suitable buying opportunities amid ongoing economic fluctuations. Market analysts suggest that used car prices could see further declines if exchange rates stabilize and economic conditions improve, potentially boosting buying and selling activity in the months ahead.