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Agencies – Abu Dhabi
A campaign calling on Egyptians to stop buying new cars to control high prices has resulted in lower sales, but activists say prices should fall further before customers can buy back, Reuters said.
Egypt has the potential to become a huge market for cars, with a population of over 98 million, but only a limited segment of passenger cars. The price of the most popular models in Egypt is between 200 and 350,000 pounds ($ 11.5-20,000), which is almost ten times the average annual salary of an official who receives three thousand pounds …
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