First order! First used car successfully operated in TEDA-Royal

First order! First used car successfully operated in TEDA-Royal

On March 17, local time, in the TEDA cooperation zone, a second-hand Kia brand car with a red silk flower on the front windshield was successfully handed over to customers in the TEDA-Royal bonded warehouse. Since then, the first second-hand car in the TEDA cooperation zone has completed the closed-loop business of bonded storage, vehicle sales, import customs clearance, payment delivery and transfer to customers, and has become an imported second-hand car that can be legally licensed and put on the road in Egypt. This means that the second-hand car import business is successfully operated in the TEDA cooperation zone.

Wei Jianqing, deputy general manager of China Africa TEDA Investment Co., Ltd., once said at a used car forum: Egypt imports nearly 200000 used cars every year-a very considerable number for Egypt. He also said that if Egypt is used as a springboard to radiate the second-hand car trade to countries in the Middle East and Africa, this market space will be even greater.

However, in order to protect the local automobile industry, Egypt strictly controls the import of second-hand cars, but it is open to some special groups such as the disabled. This means that there are certain industry barriers to the business, while at the same time, it is a higher average profit margin. It is precisely for this reason that the Egyptian government strictly controls the import and storage locations of second-hand cars-according to the regulations issued by the Egyptian government, before December 31, 2022, the second-hand car business areas under GAFI management such as Alexandria and Port Said will be gradually changed to industrial zones, and second-hand car trade activities are no longer allowed. Only the Suez Canal Economic Zone (SAR) can operate car import trade business. In the whole special zone, only TEDA cooperation zone has the qualification of automobile import trade and logistics storage. In other words, at that time, only TEDA cooperation zone can carry out second-hand car import trade business.

Since the Ministry of Commerce announced the launch of the second-hand car export pilot in May 2019, my country has begun to export second-hand cars to countries in Africa, Asia and Europe. Due to the late start of my country's second-hand car export, there is still a big gap with the mature second-hand car export system in Europe and the United States. Therefore, the second-hand car market in Africa has a relatively broad prospect, and the transaction volume even exceeds that of new cars. As the only area in the Suez Canal Special Economic Zone that can carry out the import, storage and sales of second-hand cars, the second-hand car business in the TEDA Cooperation Zone with Egypt as the core and facing the Middle East and African markets has become of great significance. On the one hand, it will provide strong support for China's second-hand car export, which is not only an innovative business to stabilize foreign trade, but also an important way to promote the upgrading of domestic automobile consumption, which is conducive to speeding up the mutual promotion of domestic and international double cycles in the automobile industry. On the other hand, due to the superior geographical location of the TEDA Cooperation Zone, the development of second-hand car business will attract enterprises such as vehicle operation, maintenance and modification, parts trading, supplies trading, auto finance and other enterprises to participate in the operation, which will play a positive role in driving the development of the industry and boosting the regional economy. In addition, Egyptian consumers can buy suitable cars at a lower cost through the second-hand car business in the TEDA Cooperation Zone, which is also helpful to improve local people's livelihood.

It is foreseeable that the follow-up to the first second-hand car test will be the second, third and thousands of second-hand cars, starting from the TEDA cooperation zone, and continuously driving to consumers in Egypt and the Middle East and Africa.