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Tuesday, 3 May 2016

FX crunch hits Kia, Jeep unaffected

The FX crunch has negatively impacted Kia sales in the Egyptian market in the first two months of 2016, with sales down 65% y-o-y, according to DNE. Meanwhile, Jeep shrugged off the crisis, posting a 50% y-o-y increase in sales during the same period, according to a separate DNE piece. Hany Mousa, the sales representative at Ezz El-Arab Company, one of Jeep’s distributors in Egypt, told DNE the crisis forced the company to stop letting customers reserve the Jeep Grand Cherokee and the Jeep Renegade, with the suspension possibly lasting the rest of the year.

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