The Minister of Industry, Mr. Ahmed Zeghdar, affirmed that car prices will decline in the Algerian market with the start of the manufacturing and importing of vehicles, which will lead to an abundance of supply, especially through cost control and profit margins that will be subject to study.
Speaking to the press, Mr. Zagdar indicated that “with regard to the vehicles that will enter the market, we expect a decline in their prices, due to several factors, including the large increase in vehicle prices in the past years in light of the lack of supply in the market, which resulted in a shortage in supply compared to demand in addition to speculation, but with the return of supplying the market through import and local manufacturing, prices will certainly decline.”
In his answer to the question as to whether the cars that will be manufactured locally will benefit from bank loans, the minister stated that consumption loans are open exclusively to national production, according to the laws and regulations in force, and therefore locally produced vehicles “are eligible for consumer loans unlike imported vehicles.” .
Regarding the date of entry of the first imported car into Algeria, he mentioned that the maximum period, which is not allowed to be exceeded, for the study of the file by the technical committee and the granting of accreditation is estimated at two months, starting from the date of obtaining the receipt of submitting the application for accreditation. However, as soon as the credit is delivered, “things become in the hands of the agent to initiate the import procedures.”
