Expert: Average Used Car Prices in Egypt Range Between EGP 400,000 and EGP 500,000

Khaled Saad, an automotive expert in Egypt and Secretary-General of the Automobile Manufacturers Association, revealed key insights about the used car market during a television interview. He highlighted the wide range of options available to buyers across different budget segments. Saad explained that the used car market in Egypt offers significant price variation, starting from as low as EGP 100,000 and reaching hundreds of thousands, providing consumers multiple opportunities based on their financial capacity and requirements.

Prices Start at EGP 100,000 and Key Market Segments

Saad confirmed that used car prices in Egypt begin between EGP 100,000 and EGP 150,000, catering to the lowest purchasing power segments. These vehicles serve as an essential entry point for those seeking car ownership on a limited budget. However, the expert emphasized that the most commonly purchased and widely available segment in the used car market falls within a higher price range of EGP 400,000 to EGP 500,000. He noted that this bracket currently represents the largest share of buyers in the Egyptian market.

Factors Determining Used Car Prices

The expert clarified that a used car's price depends not only on its make or model but is influenced by several objective factors, including: model year, technical specifications, overall condition, mileage, and whether it has been involved in any accidents. These combined factors sometimes cause certain used cars to sell for prices exceeding those of new cars, due to their superior features and equipment that may not be available in modern economy models.

Noticeable Decline in Used Car Prices

Saad pointed out that used car prices in Egypt have seen a noticeable improvement and decline compared to the previous period, with prices dropping significantly, creating a favorable opportunity for buyers. He attributed this decline to various economic and political factors, stressing that the continuation or deepening of this trend largely depends on currency stability and depreciation, along with overall economic conditions and regional political stability. He confirmed that any changes in these factors will directly impact the movement of used car prices in the coming period.