Cairo – Mubasher: Ghabbour Auto (GB Auto) announced the acquisition of the sole distributorship of the Chinese auto brand Changan.
GB Auto will launch four high-technology models in June: two small-and medium-sized sedans as well as two sport utility vehicles (SUVs), the company said in a bourse disclosure on Thursday.
The Senior Vice President of Passenger Cars Sales at GB Auto, Saad Habib, said that “the group expects Changan to be among the top five car brands in the Egyptian market within the next three years.”
“The group also offers a warranty on Changan cars for a period of five years/150,000 kilometres, whichever comes first,” he added.
During the first quarter (Q1) of 2021, GB Auto achieved net profits of EGP 349.52 million, up from EGP 216.15 million in Q1-20, including minority shareholders’ rights.
