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Thursday, 1 November 2018

Car sales jump 52% y-o-y in September as turnaround trends continue

Passenger car sales rose for the eighth consecutive month in September, jumping 52% y-o-y to 14,608 vehicles, according to figures from the Automotive Information Council (AMIC). Car sales registered a 35.9% increase in 9M2018, reaching 130.8k units compared to 96.2k in the same period last year, Al Mal said, citing the AMIC report. GB Auto’s total car sales increased 37% y-o-y to 4,926 units in September while Hyundai sales volumes increased 73% y-o-y to 3,890 units. The automotive industry has been rebounding since January 2018 following a slump that was exacerbated by the EGP devaluation in 2016.

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