Established in 1978 Aboul Fotouh Group transformed into one of the largest industrial conglomerates in the MENA region
Aboul Fotouh Automotive (“AFA”) was established in 1978 as the sole agent for BMW cars, motorcycles, and spare parts positioning BMW as the luxurious car of choice in the local market
Through the years the Company managed to establish and boost its rapport with customers by creating a sense of partnership, developing a high degree of brand loyalty and building a top reputation in the automotive market
In 1994 the Company expanded into another passenger car segment by acquiring Daewoo franchise in Egypt
In 2002, the Group established an in-depth review of all business portfolio
By 1995 (the first available market statistic) BMW market share stood at 3.2% vs 2.9% for Mercedes Benz. AFA managed to maintain BMW's market share head to head with M.B. until 2002
AFA created for itself a top brand name in the automotive market .
The introduction of Daewoo brand to the Egyptian market was a great success despite Korean cars not being popular in the local market at that time. where it captured a 39% market share in 2001.
Daewoo maintained a market share in the 20s% in the following years until GM international took over Daewoo and gradually limited the supply of CKD until AFA delivered the jigs and fixtures to GM Egypt in 2008.
Prior to the introduction of Chery (Speranza) the Egyptian consumer was wary of Chinese brands
However, the launch of Chery (Speranza) saw a remarkable waiting list solely due to the consumer's trust in the AF name in the industry
Sold 82.000 car since 2006 exceeding expectation to become the #1 Chinese brand in the local market
Captured 7.9% of market share by 2009
following the facelift in April 2016, Chery (Speranza) holds a leading market share with an expected volume of 11.000 Units in 2016.