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15 September, 2020
GB Auto has announced its partnership with global tyre manufacturer, Goodyear, to become an authorised distributor of all types of Goodyear tyres in Egypt.Regarding the near-term financial impacts, Naeem Research expects the new agreement will contribute an incremental EGP 200m in revenues to Egypt’s tyre segment, but with higher margins as it is a premium product. “Like Goodyear, GB Auto shares a strong heritage, they have been in the automotive business in Egypt for more than half a century with a culture that focuses on encouraging the spirit of innovation,” said Khaled Arafa, General Manager of Goodyear Middle East and Africa, “Our goal is to become the premier tyre brand in Egypt and across the region, by responding to the needs of consumers and becoming their preferred choice.”Arafa added, “This partnership confirms our commitment to the Egyptian market, and we will leverage on our brand heritage, products, and strong local partnerships to serve the market’s needs and customers as we are seeing very high potential in the country.”
10 September, 2020
NEW DELHI: Foreign automakers are seeking delays and exemptions to India's planned new quality rules for imported auto parts, arguing the regulations will increase costs, hurt sales and disrupt supply chains, sources with direct knowledge of the matter told Reuters. Prime Minister Narendra Modi is keen to reduce imports to boost local manufacturing to make India more self-sufficient and enable it to play a bigger role in the global supply chain. That said, the move is seen mainly aimed ..
2 September, 2020
The Chinese new vehicles market is the largest in the World and is characterized by a very low concentration of sales in the top models. Indeed the top 10 models sales represent only 15.9% of the market, while the top 50 represents 45.8% and the top 100 the 65.9%.The best-seller in the period 2010-2015 was always a light commercial, the Wuling Hongguang, which is utilized both a minibus and eight seats MPV. Since the 2017 the leadership was in the hands of the Volkswagen Lavida, a compact sedan, which in 2019 reached a peak of 2.4% market share.In the first half of 2020 the market presents a new best seller: the Wuling Mini Truck, which sold 281.275 units (22.3%), gaining the leadership ahead of the former leader, the Nissan Sylphy with 254.707 (7.14%) units and the Foton Light Truck with 224.206 (16.4%).
The Egyptian government has recently adopted an initiative to convert about 1.8m old, petrol-powered cars to compressed natural gas (CNG), according to Karim Naggar, Chairperson of Kayan International Trade, the Egypt agent for Volkswagen, Seat, and Skoda.Naggar welcomed the initiative, which particularly focuses on the mass transportation category being the most important means of transport in Egypt. It will see this type of vehicles, in particular, converted to CNG engines, which reduces harmful carbon emissions, especially in Egypt’s densely populated governorates such as Cairo.
28 August, 2020
California on Thursday approved a $437 million effort to build thousands of electric vehicle chargers, its utility regulator said, calling it the nation's largest utility program to expand charging infrastructure.The money will go to utility Southern California Edison to fund the installation of nearly 40,000 chargers, the California Public Utilities Commission said in a statement.
27 August, 2020
EFG Hermes through its Non-bank financial institution (NBFI) EFG Hermes Finance Holding and GB Auto through its NBFI GB Capital announced Thursday the completion of a 75 percent stake acquisition in Tokio Marine Egypt Family Takaful, in a deal worth LE 84.75 million. "The move aligns perfectly with our vision for the future, which sees our subsidiary business expanding as we diversify our portfolio of offerings in the leasing, consumer finance, factoring, micro finance, mortgage finance, securitization, fleet- leasing arenas and e- payments to cater a wider segment of clients, both corporate and individual,” , Chairman and CEO of GB Auto (AUTO on the EGX) Raouf Ghabbour commented.
21 August, 2020
MENA Car Market in the First Half of 2020 dropped down 23.3% at 749.064 sales. Saudi Arabia and Egypt were the only positive countries, gaining respectively 6.2% and 28.7%. All other markets declined in double-digits. In 2019, the MENA market reported a positive performance, selling 1.99 million units, up 3.2% from the previous year.After a great start in 2020 -with Year to Date February sales up in double-digits (+12.9%) – the market has deteriorated in March due to the Coronavirus outbreak, leading the Q1 marginally down (-2.5%). The market was also largely hit in the following months, which dragged registrations down 23.3% in the First Half of the year at 749.064 sales. Looking at the ranking by country, Saudi Arabia was able to end the first half on a positive tone, thanks to a purchase rush created in June and benefiting from an impressive start. The other only positive market was Egypt – actually the best – with sales up 28.7%.
17 August, 2020
Amazon.com Inc's cloud computing unit will help Toyota Motor Corp. build a platform to help manage and monetize data gathered from the automaker's global vehicle fleet, the companies said Monday.Toyota said its Mobility Services Platform will enable it to process and analyze data that can be used to develop vehicle services from ride and car sharing to behavior-based insurance and maintenance notifications.
Hope is gradually returning to the automotive market, with the gradual waning of the pandemic in its strength and the decision to co-exist with the virus. As the pandemic has caused significant damage to most of the economic sectors worldwide, and most notably in the auto sector which has witnessed a significant decline in sales. Mahmoud Hammad, head of the used car sector at the Egyptian Automotive Dealers Association, said the current high demand for used cars is due to consumer’s finding the lower prices of used cars more attractive.
4 August, 2020
Valvoline Inc. has reported financial results for its third fiscal quarter ended June 30, 2020. “Our results this quarter demonstrate the resiliency of our business model and show that we have taken the steps necessary to effectively manage our operational response and maintain financial flexibility during the crisis.” said Sam Mitchell, CEO.
4 August, 2020
According to data released by the local Association of Car Manufacturers, the Egyptian light vehicles market started the 2020 with booming trend, with sales up 81.9% in the first two months, before to start declining, hit by the growing emergency created by covid 19 spread.However, the first quarter ended with sales up 79.3%, before to assist at a progressive deterioration in the second quarter.
On behalf of its two divisions, Automotive Aftermarket Suppliers Association (AASA) and MERA – The Association for Sustainable Manufacturing divisions, the Motor and Equipment Manufacturers Association (MEMA) reiterated its support under the Digital Millennium Copyright Act (DMCA) to renew current exemptions that allow greater access to vehicle software for diagnostic and repair services by independent repair providers. Prior to 2018, the repair exemption for vehicle software had only applied to vehicle owners. Later on, it expanded to allow for third-party providers to service vehicles on behalf of owners.
20 July 2020
The partnership between Ford and Mobiley will result in better camera-based detection abilities for ADAS. This is meant to improve many features such as forward collision warnings and lane keeping assistance. This is the first time Ford had committed to Mobiley technology throughout the entire products life of its next generation vehicles.
19 July 2020
European Investment Bank’s (EIB) board of directors approved to provide Egypt with €1.9 billion in funding, Minister of International Cooperation, Rania Al Mashat announced Sunday. Al-Mashat clarified that €1.1 billion is to finance three projects in the transportation sector with the National Authority for Tunnels, adding that EIB will provide loan of € 800 million to the National Bank of Egypt in support of small and medium enterprises for the post-Covid19 recovery.
19 July 2020
Egyptians can now book their next trip between Cairo and Alexandria via Uber app. The company announced the launch of its intercity transport service with a route between Cairo and Alexandria as a first step before expanding to more governorates. Egypt was chosen as the first market globally to launch this service as a testing environment.
14 July 2020
As part of a cooperation with sports car manufacturer Porsche and mechanical engineering company Trumpf, MAHLE has produced high-performance aluminum pistons using 3-D printing techniques for the first time. The pistons were successfully tested on the engine test bench for Porsche’s 911 GT2 RS sports car. Whereas standard forged pistons have reached the limits of their performance potential, it is conceivable that the power of the 700 HP Porsche engine could be boosted by 30 HP with an associated increase in efficiency. MAHLE is specifically developing its expertise in 3D printing, so that, in the future, it will also be able to support its customers in the field of alternative drives, including electric drives, by supplying suitable components for drives, thermal management, and mechatronics promptly.
9 July 2020
The Auto Care Association hosted a webinar on June 25 on the “Lasting Impacts on Traditional and E-Commerce Channels Due to COVID-19.” During the webinar, industry experts discussed the most recent data, trends and impacts of the pandemic on the aftermarket covering a range of topics from e-commerce fulfilment to social media influence on consumer behavior and retail e-commerce trends. “The quarantine provided consumers the opportunity to try new things, work on their cars and we are seeing some stickiness in that area,” said Horn. With his own set of data backing up Horn’s research, Nathan Shipley, executive director, U.S. Automotive for NPD Group, noted a significant return to growth over the past several weeks in certain “front-room categories” in retail segments, including “buy online, pick up in store” offerings at retailers such as O’Reilly, Pep Boys and Walmart.
29 June 2020
Minister of Public Enterprise Hisham Tawfik stated in a phone-in Sunday that Egypt will produce 25,000 electric cars annually starting 2021, and that the vehicle will cost the consumer LE 300,000. The car will be produced by El Nasr Automotive Manufacturing Co. and by the end of 2021, the car will be available for consumers. The minister expressed hope that half the production is purchased by taxi drivers given that the electric vehicle requires less maintenance than regular ones.
22 June 2020
Source: just auto
Just Auto offers free daily updates on the impact of COVID-19 on the automotive industry. It features relevant and recent news from across the globe on the automotive sector and how governments and companies are dealing with the Corona virus pandemic.
17 June 2020
Ford motor company has recalled certain F-150 full-size pickup trucks which might have a leaking brake master cylinder. Included in the recall are select 2014-17 F-150 vehicles equipped with 3.5-liter EcoBoost engine.In affected vehicles, the brake master cylinder may allow brake fluid to leak from the brake master cylinder front-wheel circuit into the brake booster.
15 June 2020
Source: Daily News Egypt
gypt was selected among 18 countries by the Association of Business Service Leaders (ABSL), a leading international non-profit organisation, as world-class destinations for business services in Europe, the Middle East, and Africa region (EMEA). The report highlighted the availability of talent in Egypt giving it an edge, whilst allowing it to set itself apart from other near-shore destinations. As a result, Egypt can offer companies the possibility to implement service centres on a large scale.
9 June 2020
Source: Daily News Egypt
With the state’s decision to coexist with the virus, the question now is if the car market can rebound. Ahmed Al-Ghorab, director of B Auto, a car trading company, said that, based on the current vision and an application of the divergence policy, there should be an increase in car sales. This comes on the back of a general reluctance to use public transport in the coming period to avoid the further spread of the disease. There are also a range of other challenges facing the automotive sector, as it, along with other businesses, adapts the way it works in line with coexisting with the virus.
4 May 2020
has designed a special vehicle specifically for COVID-19 patients, with the tailor-made transportation taking into account the highly-contagious nature of coronavirus.The special ambulance was developed for Showa University Hospital in Japan, based on requests from medical facilities in the country, and includes a number of unusual features.