Auto companies to reduce prices in the next period
GB Auto (AUTO.CA) and other auto companies are expected to reduce their prices in the next period, following the recent EGP appreciation against USD. The move was also supported by the Finance Ministry’s decision to cap customs duty at EGP15.75/USD until mid-March. Last week, GB Auto announced that it is offering discounts ranging from EGP 18k-51k on all Hyundai, Chery, Geely, and Mazda cars.
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