Focus magazine said its decision was based on the fact that import duties are expected to decline further in the future. EGA was looking at expanding to assemble other makes of car, the spokeswoman said.
Until recently, Egypt imposed duties on imported cars of up to 100 per cent.
Daimler holds a 26-per-ecnt stake in EGA, which it plans to withdraw from next month.
In 2014, it sold just 4,255 vehicles in Egypt, according to the original report in the weekly Focus magazine.