Algeria to manufacture car at less than 1,000,000 DZ

date 2016/11/18 views 1952 comments 0

icon-writer By: Imene Kimouche / English version: M. A.

Tahkout’s CEO Mahieddine Tahkout Thursday said a new car plant will be set up in partnership with a well-known foreign operator. The brand will be announced after negotiations are over. The car price will be less than 1,000,000 DZ.

Tahkout signed a partnership agreement with CPA bank to fund the marketing operation of Hyundai cars made in Algeria. A Consumption loan will be granted to by the car.

He told Echorouk he preferred to postpone selling and price determining operation until a sufficient quantity of cars is available.

Speaking about the price, he said it is will less than the imported Hyundai price by 20-30 percent. 

He also announced a new car brand which will be manufactured in Algeria and will be sold at less than 1,000,000 DZ.

CPA’s CEO Omar Boudiab said the bank officially started granting consumption loans for locally-made cars. People can pay 10 percent and pay the rest during five years.

He added that consumption loans for purchasing home-appliances led to a large number of sales. Figures will be announced in December.

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