As supply shortages persist, a resurgence in car overpricing looms, potentially triggering further price increases if the crisis continues. There are a total of 39,000 vehicles currently held at customs, including commercial and personal imports, including those intended for individuals with special needs. “There will be a slight rise in car prices, a typical outcome due to the many cars held at customs,” stated Osama Abul-Magd, president of the Automobile Dealers Association. “It wouldn’t be in the interest of consumers or dealers.” The recent increases in car prices were moderate, ranging from 3 percent to 5 percent, during the week leading up to Eid al-Adha to the following week, according to Alaa El-Sabaa, a member of the Automobile Division. As of 6 July, car prices are stable compared to the past two weeks, El-Sabaa stated. He echoed Abdul-Magd’s concerns, saying, “Prices are unlikely to decrease in the coming days due to customs delays in releasing cars, which increases their financing costs.” He attributed the price hikes to shortages in certain car models and delays in releasing a reasonable number of cars for 40 to 50 days. El-Sabaa explained, “What was…
