.drivingdotca’s Lorraine Sommerfeld: “If our cars cost us as much as Egyptians are expected to pay for theirs, would we have the discipline to push back against the system like they did?”:
Consumers will always have the final say on whether a particular vehicle is successful or not. Ford Pintos disappeared as their sales, literally, went up in flames in the 1970s. Fiat 500X and 500L sales recently fell off a cliff, yelling “reliability issues” all the way down. Sometimes, it’s just the entire segment, like the decline of sedans as trucks surge. I feel for manufacturers; they need a crystal ball and gobs of cash to find the sweet spot in buyers’ imaginations and bank accounts.
That ratio is crazy. Imagine if you earned $50,000 a year, but the cost of a very non-exotic car was $500,000. The problem has a lot of moving parts. Egypt’s economy was put into the spin cycle following the 2011 uprising that ushered out leader Hosni Mubarak, and austerity measures needed to get a bailout from the International Monetary Fund meant significant — if not unlivable — cuts for most Egyptians.
RELATEDThe 10 vehicles seeing a rough start to 2019Lorraine Complains: Canadians need to smarten up when buying new cars Egypt imports about 20 per cent of its cars from Europe, and while you’ll recognize some of the names of cars made or assembled in Egypt — Hyundai, BMW, Geely, Daewoo, GM, Cherokee, Wrangler, etc. — the country is now mandating that 46 per cent of those vehicles must be comprised of locally sourced components in an effort to help industry recovery.
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