CAIRO: There is a major discrepancy between the value of car prices sold in the Egyptian market and their prices in their origin markets observed in its monitoring of car prices and customs tariffs.
DNE monitored the prices of a number of cars’ 2016 models, which have been offered in the local market and compared their local prices with the value of customs tariffs and taxes if citizen were to import them.
This included monitoring the 2016 models for BMW, Peugeot, Toyota, Renault, Chevrolet, Kia, Mitsubishi, Mercedes, Nissan, and Hyundai.
On the local market level, it is noted that the monitored cars’ prices mark a large difference between the cost of their entry, their global price, and their local selling price.
The value of customs and taxes applied on BMW I120 2016 with a capacity of 1600CC records around EGP 198,000, whereby it is offered locally at the price of EGP 338,000.
The tariffs on a BMW with 1500CC are approximately EGP 190,000 compared to its offering price in the local market, which ranges between EGP 384,000 and EGP 328,000. The total tariffs applied on BMW i318 with 1,600CC records approximately at EGP 229,000 but this value increases for the BMW i418 with a 1,500CC to EGP 267,000.
In the category of cars with engine capacity of over 2,000CC, their total cost of taxes, custom fees, and import tariffs amounts to EGP 551,000 for the BMW X3.
The French Peugeot 5008 has the highest value in custom duties for an engine of 1,600CC, registering at EGP 140,000. It is offered for the price of EGP 260,000, followed by the 3008 model for which the tariff value reaches EGP 126,000.
The 308 model registered EGP 124,800 in tariffs, while the 508 model registered EGP 122,800 and the model 2008 marks around EGP 90,000, followed by the model 208 recording a total custom duty of EGP 83,000.
Meanwhile, the 301 model registers EGP 57,000 in customs tariffs and taxes while its price in the market ranges between EGP 135,000 and EGP 145,000.
As for Toyota, the highest value of customs and taxes is recorded by the Fortuner model that has 2,700CC, totalling EGP 370,000, followed by the Corolla model with 1,600CC amounting EGP 85,000, and the Yaris with 1600CC recorded at EGP 80,000.
The customs tariffs have equal value for the Avanza and Yaris models, recording around EGP 75,000 despite the difference in their engines’ litre capacities, the Avanza’s at 1500CC and Yaris’ at 1300CC.
As for Renault models with 1600CC capacity, the customs value on Florence model is EGP 95,000,the Duster model records EGP 85,000, and the Sandero StepWay and Megan register EGP 70,000. The Sandero marks EGP 60,000, while the Logan records EGP 55,000.
For Chevrolet, customs tariffs required for the Cruiser, with 1,600CC, amount to EGP 90,000. Meanwhile, the value differs between Aveo and Lanos models with 1,600CC capacity. The Aveo’s customs value records EGP 60,000 whereas the Lanos registers EGP 50,000.
Kia’s 1,600CC Sportage model comes with the highest customs and sales taxes at EGP 110,000. The Carens follows, registering at EGP 80,000, followed by the Cerato at EGP 77,000 and the Soul at EGP 75,000. Both the Picanto and Rio are equal at EGP 55,000 despite the different engine capacities, the first is equipped with a 1400CC engine while the later with a 1,200CC engine.
German and Japanese cars with the same 1600CC engines, the Mercedes E 180 and the Mitsubishi Lancer, differ in total fees, the first records EGP 215,000 and the latter records EGP 65,000.
The Customs Authority estimated the tariff for the 1,100CC Hyundai i10 at EGP 60,000, while the total price of the car is between EGP 99,000 and EGP 103,200.
Hyundai’s 1,600CC i30 has tariffs of EGP 70,000. The total price of the car ranges between EGP 162,000 and EGP 172,000. The 1,600CC Hyundai IX35 drawn customs of EGP 105,000 and is sold at a price ranging from EGP 240,000 to EGP 293,000. The Hyundai Accent incurs tariffs of about EGP 70,000 and is sold at a price ranging between EGP 146,000 and EGP 163,000.
The Hyundai Elantra entails about EGP 80,000 in tariffs while its total price ranges between EGP 170,000 and EGP 203,500. As for the Hyundai Grand with a 1,250CC engine, the customs are estimated at EGP 65,000 and are sold at a price ranging between EGP 103,000 and EGP 120,000.
Customs for the 3,500CC Nissan Pathfinder are set at EGP 534,800 and the vehicle is sold at EGP 730,500.