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Monday, 4 March 2019

Egypt passenger car sales up 10.8% y-o-y in January to 11,460 vehicles

Total car sales were up 10.8% y-o-y in January to 11,467 vehicles, compared to 10,347 in January 2018, according to figures from the Automotive Information Council (AMIC). Passenger car, bus and truck sales increased 17%, 12.1% and 3.1% y-o-y, respectively, during the month.  Locally-assembled vehicles, however, registered a 12.5% y-o-y decline. Chevrolet was the best-selling brand across all segments, while Hyundai remained the market leader in the passenger cars segment. The automotive industry has been rebounding since January 2018 following a slump that was exacerbated by the EGP devaluation in 2016. However, this month’s total increase in sales volume wasn’t as pronounced in recent months, including in October, September, and December (when a low base effect certainly helped). January 2019 was the first recorded month since the decision to slash to 0% import tariffs on EU-made cars, which would explain the sharp 44.5% y-o-y increase in car imports.

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