Expert Predicts Stability in New and Used Car Prices Amid Current Market Conditions

Automotive expert Montaser Zaitoun, a board member of the Egyptian Automotive Division, confirmed that car prices have recently experienced a period of stability. He emphasized that this stability applies to both new and used car prices in Egypt. Zaitoun attributed the price steadiness to the current truce between the United States and Iran, along with a decline in overprice practices in the Egyptian car market.

Declining Sales and Buyer Expectations

Zaitoun also linked the price stability to a drop in market sales volume, driven by buyers' expectations of future price reductions. He predicted that prices for both new and used cars would remain stable in the coming period, as overpricing continues to decrease.

Truce Impact on the Egyptian Market

The expert noted that if the truce between the two sides continues, car prices could see a decline. However, if hostilities resume, prices are likely to rise again. He described the current period as favorable for purchasing cars, especially given the rising cost of public transportation in the local market.

Spare Parts Availability with 10% Price Hike

Regarding spare parts, Zaitoun stated that they are available in Egypt but have increased in price by 10%, similar to the trend seen with vehicles. He added that recent challenges have reduced import rates for these components due to higher costs and shipping difficulties.