Omar Balbaa: Some Dealers Push Overprice to Excessive Levels Amid Car Shortage

Omar Balbaa, head of the Automobile Division at the Federation of Egyptian Chambers of Commerce, has revealed that some dealers are exploiting market anxiety to impose excessive overpricing on certain car models, as concerns over future availability continue to mount.

Speaking on the radio program 'Arabety' on Egypt Radio, Balbaa explained that growing fears over the impact of regional tensions on imports have driven many consumers to rush purchasing decisions, despite significant price hikes on several models.

Balbaa pointed out that a number of brands and models have become nearly absent from the market, leading to a sharp increase in the so-called 'overprice' charged on vehicles suffering from clear supply shortages. He noted that some dealers are taking advantage of limited inventory and customer worries to demand inflated premiums.

The division head added that consumers continue to buy under the pressure of potential future unavailability, as ongoing regional instability keeps the market in a state of uncertainty, further fueling price escalation.