Egyptian Automotive Association halts car imports in Nov
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, before the Central Bank of Egypt’s decision to float the Egyptian pound (EGP) against the US dollar on November 3, the Egyptian Automotive Dealers Association had agreed to halt the import of cars in November in order to support Egypt’s faltering economy.
Osama Aboul Maged, head of the association, reported that their decision to stop importing cars will continue after the floatation of EGP. He also reported that they did not make any decision to halt auto sales and car prices will increase due to the possible increases in auto customs.
Osama Aboul Maged, head of the association, reported that their decision to stop importing cars will continue after the floatation of EGP. He also reported that they did not make any decision to halt auto sales and car prices will increase due to the possible increases in auto customs.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Supply limitations bolster Feb PP and PE outlook in Turkey
- China’s import PP markets climb to 6-month highs prior to Lunar New Year
- Weak activities press import PE, PP suppliers for discounts in Egypt
- Price erosion continues inside Middle Eastern polyolefins markets
- European PP, PE markets open 2023 with renewed drops
- Tight supply keeps expectations bullish in Turkey’s PVC market
- End of China’s ‘zero-COVID’ stance: Double-edged sword for Asia PVC, PP and PE markets
- Mid-Eastern sellers approach China, SE Asia and Turkey with firmer PP, PE prices for Jan
- Egypt’s local PE, PP markets head north as pound plunges to new low
- Styrenics markets reverse slump after months-long downtrend in Europe
