Kaiyi Egypt will reprice its cars from 1 November if the dollar stays high
In short
Kaiyi Motors Egypt, the local agent for Kaiyi, says it will have to reprice and raise prices from 1 November if the dollar stays high until the end of October. A fall in the dollar before then would be taken into account.
Kaiyi Motors Egypt, the local agent for the Kaiyi brand in Egypt, says it is sticking to a pricing policy aimed at stability and balance. This comes despite the continued swings in foreign exchange rates.
In a statement to its customers, the company said it does not see a need to raise car prices with every new rise in the dollar. It prefers to wait until the exchange market settles at clear levels, so pricing decisions can be well considered.
The 1 November date
If the dollar stays high until the end of October, the company says it will have to reprice its cars and apply price increases from 1 November.
If the dollar falls before that date, the company says this will be taken into account when it sets the new prices.
What the company says about its policy
The company said the policy aims to protect customers from temporary currency swings and keep prices fair and balanced as far as possible, without passing unnecessary increases on to them.
It also said it absorbed the burden of currency swings in the past period as far as it could, out of responsibility toward its customers and trust in them.
The company ended by saying that any future decision on its car prices will be studied and taken according to actual changes in the market.
