Car supply shortage hits GB Auto Q3 income
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Car supply shortage hits GB Auto Q3 income

Car supply shortage hits GB Auto Q3 income

Egyptian biggest-listed automobile assembler GB Auto has posted a 26.5% year-on-year drop in its third quarter net income to EGP65.4m ($10.7m), as its main passenger car supplier could not keep up with demand, Reuters has reported. "Our Egyptian passenger car business... saw a dip in sales in the quarter just ended on the back of supply constraints following an extended period of labour unrest at Hyundai Motors, our key global partner," said the chief executive of GB Auto, Raouf Ghabbour.

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