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Thursday, 19 July 2018

Egypt’s auto sales expected to rise 18-25% y-o-y -AMIC

We did it with tourism. Is it auto’s turn? Egypt’s auto market is expected to resume its recovery throughout this year, with auto sales projected to rise 18-25% y-o-y during 2018, Automotive Information Council (AMIC) senior official Rafaat Masrouga said, Al Mal reports. Masrouga estimates that between 160-170,000 vehicles are expected to be sold this year. He noted that even if sales meet the projections, it is far too soon to say if the industry has returned to its heyday. Auto sales rose 39% y-o-y in the first five months of the year, with Chevrolet and Hyundai capturing the largest market shares.

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