CAIRO — On June 9, an official source at Egypt’s Consumer Protection Agency revealed to al-Mal news website that the agency has asked car dealerships across the country to either explain their failure to deliver cars to citizens or issue refunds.
This comes amidst a crisis in the automotive industry in Egypt. It started on March 21 when the central bank decided to float the Egyptian pound, which incurred a loss of more than 17% of its value against the dollar. As a result, car showrooms and dealerships complained that cars are not delivered at the same price at which they were booked.
