Back to the complete issue
Sunday, 15 May 2022

It’s going to cost a lot more to get a dual-fuel vehicle under the govt’s swap scheme

Companies participating in the government’s natgas vehicle swap program will hike prices by up to 45% in response to rising inflation, according to figures published yesterday, Al Masry Al Youm reports. Under the rules of the scheme — introduced last year to increase the number of dual-fuel vehicles on the nation’s roads — companies can request to raise their prices by up to 10%, but according to the price list published by the newspaper the government has permitted companies to raise prices far above this threshold.

Sticker prices on all participating brands will now rise 19-45% from where they were when the scheme launched in March last year. Participating brands include Hyundai’s Accent and Elantra, Nissan’s Sentra and Sunny, Chevrolet’s Optra as well as offerings from BYD and Lada. Depending on the model, applicants will be paying up to EGP 75k more for their vehicles. See the original price list here (pdf).

When do the new prices go into effect? The new prices will be charged on applications submitted after 24 April, the initiative’s spokesman, Tarek Awad, told Kelma Akhira’s Lamees El Hadidi last night (watch, runtime: 6:38).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.