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MENAFN: Egypt Car market has no spare parts

The appreciation of the Dollar led to lack of spare parts exceeding 70% of the market size due to the decline in the amount imported and customs rules
26.10.16 | Interesting article at MENAFN

The appreciation of the US dollar exchange rate against the Egyptian pound over the past few months has led to a lack of spare car parts, exceeding 70% of the market size due to the decline in the amount imported and the restrictions on spare parts at customs for violating the new prices.
Desouky Saied, head of the spare car parts division in the Cairo Chamber of Commerce, said that the continuous price increase has prevented importers from buying goods due to the decline in the consumers' purchasing power. In addition, most of the goods in the market are currently found in companies' storage, and are not new goods.

Saied explained that the deficit includes all types of spare parts and those for European, American, Chinese, Korean and Japanese models. The deficit is especially clear among Chinese, Korean, and European spare parts, particularly as these models are those most popular with car owners.

Member of the spare car parts division in the Cairo Chamber of Commerce, Mohamed El-Battah, said that there is a clear deficit in the availability of spare car parts due to the high price of the US dollar, and the new prices imposed by customs on importing companies. Thus, those parts violating the new customs policies have not been released.

He added that the new prices are considered uncertified because they violate the real price of the spare car parts, where these prices are higher than the original ones by 20-30%.