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Follow on Google News | Market Report, "Egypt Autos Report Q4 2010", publishedFast Market Research recommends "Egypt Autos Report Q4 2010" from Business Monitor International, now available
Egypt's leading automotive supplier GB Auto, which has increasing regional reach, has posted strong results for H110 and looks set to consolidate its share of a passenger car market forecast by BMI to grow by 12% in 2010, we reported in September. The company's revenues were up 78.9% year-on-year (y-o-y), to EGP3.1bn, as it also took advantage of growth in Iraq, where it has been present for just six months. Egypt's passenger car market grew 38.6% in the first half of the year. Hyundai Motor, represented by GB Auto, saw it sales rise 65.3% y-o-y. A focus on exporting to the wider Middle East and Africa region is also expected to contribute to a doubling of profits for the full year. GB Auto has announced it is looking into opportunities with international counterparts, with potential projects including a new entrylevel car (potentially a strong suit on the Egyptian market, with many middle class families and individuals looking to make their first vehicle purchase). It is also looking to compete its product range in its 'commercial vehicle line of the business'. Regulatory changes are afoot. New trade regulations will open the market to the EU, with the likely result of increasing competition for incumbents in Egypt. The country has also established new standards for imported vehicles and components, with the first phase of the standardisation procedure implemented in August 2010. The country had previously not had its own specifications for cars and components, allowing import of almost any items and units, regardless of quality. Hani Barakat, chairman of Egyptian General Organisation for Standardisation and Quality (EOS), says the new regulations will help boost investment in the Egyptian automotive sector and boost its position as an exporter by improving integration with the international automotive market. With Egypt on the brink of joining the UN Economic Commission for Europe (UNECE), which allows trade in vehicles and components without inspection, the authorities are keen to ensure that exports meet minimum standards and that the country's growing reputation as an automotive manufacturing centre is not compromised. Consistency and quality have been problems in Egyptian manufacturing, an issue that the government and industry leaders are keen to address. Barakat has said that the rules will not push up car prices, adding that initial results suggested that costs had not been affected. According to Al Ahram, the majority of car dealers have welcomed the new system. Certainly, international manufacturers and dealers are likely to already be meeting the standards. Smaller, more localised firms, however, may find more difficulty, given the costs involved. Importers that have benefitted from lack of regulation are likely to be affected, though arguably to the benefit of the wider market. The standardisation process is part of a series of government moves to regulate car imports and encourage exports. On August 14, Minister of Finance Youssef Boutros Ghali passed a decree that permits the refund of fees paid on car and bus exports. The reform has the aim of lowering the financial burden on exporters and stimulating export by local industries. For more information or to purchase this report, go to: - http://www.fastmr.com/ Report Table of Contents: Executive Summary SWOT Analysis - Egypt Auto Industry SWOT - Political SWOT Analysis - Economic SWOT Analysis - Business Environment SWOT Analysis Regional Overview - Change Ahead For The GCC - Trouble In South Africa And Turkey, Uncertainty In Iran - Impact On Production Business Environment Ratings - Table: Middle East And Africa Business Environment Ratings Industry Forecast Scenario - Production And Sales - Table: Egypt Automotives Historical Data And Forecasts - Table: Egypt Automotives Historical Data And Forecasts - Trade - Table: Egypt Automotives Historical Data And Forecasts Macroeconomic Forecast Scenario - Table: Egypt - Economic Activity Competitive Landscape - Manufacturers - Passenger Cars - Commercial Vehicles - Suppliers Company Monitor - Regional Case Study: Nissan Motor - Production - Table: Nissan MEA Production Facilities - Sales - Table: Nissan MEA Distributors Company Profiles - General Motors Egypt (GM Egypt) - Manufacturing Commercial Vehicles Company - Toyota Motor - Nissan Motor - Ford Motor - BMW Country Snapshot: Egypt Demographic Data - Section 1: Population - Table: Demographic Indicators, 2005-2030 - Table: Rural/Urban Breakdown, 2005-2030 - Section 2: Education And Healthcare - Table: Education, 2002-2005 - Table: Vital Statistics, 2005-2010 - Section 3: Labour Market And Spending Power - Table: Employment Indicators, 2001-2006 - Table: Consumer Expenditure, 2000-2012 (US$) - Table: Average Annual Wages, 2000-2012 BMI Methodology - How We Generate Our Forecasting Model - Sources About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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