In light of the shortage of electronic chips occurring as a global crisis, the consequences are evolving causing a direct impact on the production of all cars in addition to the needed spare parts.
With the lack of components and the reduction of stocks in the companies in the last couple of months, several car manufacturers are forecasting that cars’ supply might come to a complete stop by next December. The shortage crisis has begun to develop in all car factories around the globe, and it will have several negative consequences, especially with strong demand and a lack of supply leading to uncontrolable “overprice” by local retailers
Quoting from experts in the automotive market, the increase in car prices during the coming period is certain. Ranging between 5 and 10% in the form of official increases by agents and importers, because of the increase in shipping costs. Or it is unofficial increases in the form of overpricing by collecting additional costs over the official price, in light of the scarcity of supply.
In light of this crisis, many global car companies announced urgent measures, like reducing production. The last of which was Toyota, which declared a 40 percent reduction next September. The rate of predicted losses in the auto sector until the second quarter of next year was estimated at about $61 billion. As a result of the shortage of chips and the consequent rise in car prices and the suspension of manufacturing up to one million cars this year alone.
From here, we raise the question of “what are the steps the consumer needs to take to face the (overprice) crisis?”
If you are a car owner, then this is not a major issue for you. Instead, you can start benefiting from your car by sharing it through a service like “Friendycar” with ease and safety. You can determine the price and the desired rental period, which will make you in control of your car completely. With Friendycar we ensure the quality of the car borrowers as this is one of the most significant roles of Friendycar in supervising the rental process.
What if you don’t own a car and desire to buy one in light of this crisis?
Friendycar is an online service that launched in the United Arab Emirates in 2017 and Egypt in 2019. We aimed at reducing the purchase of cars and motivating car owners to “share” their cars among their community. Our goal is to remove many burdens from the consumer such as maintenance and insurance, along with losing money when selling their cars.
With the rising crisis in the availability of cars in the Egyptian market, purchasing cars became a hard decision and the prices are an even greater obstacle.
Friendycar rental services are your best choice.
Friendycar’s competitive prices are offered in short-term and long-term car rental programs in Egypt (starting from 3 months). Friendycar’s team is bound to gather all suitable selections for you as a renter. We provide the best offers in addition to free comprehensive insurance and bearing all car repair expenses, which includes periodic maintenance.
Forget the hassle as Friendycar car rental services are completely done online. You can rent your car through the mobile application or the website without any documentation or visiting the rental offices. With more than 1000 cars available in different classes and the latest models. Friendycar acute solutions are your best alternative to overcome the existing crisis in the Egyptian automotive market!
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