The Egyptian government has allocated EGP 1 billion in the fiscal year (FY) 2024/2025 budget to support the Automotive Industry Localization Strategy, Minister of Finance Ahmed Kouchouk announced.

The UAE-based Dubizzle Group has acquired Hatla2ee, a leading online car marketplace in Egypt.

MM Group for Industry and International Trade (MTI) has signed a new partnership with Automobili Lamborghini, the renowned Italian supercar manufacturer.

Nissan Egypt has signed an investment contract to locally manufacture a third model at its factory in Egypt.

The Egyptian cabinet has approved a proposed vision by the Ministry of Investment and Foreign Trade to regulate the automotive market by 2025.

Minister of Investment and Foreign Trade Hassan El-Khatib met with Hicham Elloumi, chairman of Tunisian multinational Coficab, to discuss progress on the company’s new factory in the Tenth of Ramadan City.

Mansour Automotive Company, in collaboration with SAICMG, is working on establishing a new factory in Egypt for assembling conventional and electric MG Motors cars.

Autotech, Africa’s leading Auto Aftermarket Exhibition, is taking place from November 17th to 19th at the Cairo International Exhibition Center in Nasr City.

The Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib has called on automotive dealers and agents to limit their import requests for 2025 to 5% of the total cars imported in 2023.

The Minister of Investment and Foreign Trade Hassan El-Khatib has met with distributors of international car brands and car agents and dealers to probe the localization of the automotive industry in Egypt.

Autotech, the largest international exhibition for automotive aftersales services and feeding industries, is set to take place at the Cairo International Exhibition Center from November 17th to 19th.

Prime Minister Mostafa Madbouly met with the General Manager of Guangzhou Automobile Group Co (GAC) Feng Xingya to probe the company’s future investment plans in Egypt as well as its current investments and operations.

Egypt's vehicle production is expected to grow steadily in the coming years, but it may fall behind competitors in North Africa, according to a recent BMI report from Fitch Solutions.

The Minister of Finance Ahmed Kouchouk has issued a decree on establishing a central unit to facilitate customs and tax procedures for companies operating in the automotive industry.

Automotive sales in Egypt surged by 81.2% year on year (YoY) in July to 11,400 vehicles, compared to 6,200 vehicles.

Malaysia-based automaker Proton Egypt will start the local production of its Saga model in early 2025, with a production target of 25,000 units from the beginning of manufacturing until the end of 2027.

Prime Minister Mostafa Madbouly has discussed possible cooperation opportunities with the automaker Kasrawy Group in the localization of automotive industry and exporting abroad.

Automotive sales in Egypt rose by 26.6% year on year (YoY) in June to 8,017 vehicles, compared to 6,331 vehicles.

Egypt’s automotive sales are expected to drop by 25% to 35% year on year (YoY) by the end of 2024 due to the suspension of imports.

The Egyptian government is planning to set up three strategic factories for locally manufacturing car components and raw materials.