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Monday, 15 July 2019

Alamal auto group suspends production of BYD S5 amid low demand

Auto assembler Alamal Group is suspending its production of BYD S5 cars due to declining demand, board member Gamal Amin said, Al Mal reports. The company originally intended to assemble 50 units per month and sell 600 in 2019, but poor market conditions caused in part by the decision to scrap customs on imported European cars have forced it to shelve its plans. The company will continue to assemble the model if it receives bespoke requests. Boudy Group, the local distributor for Chinese companies Changhe Automobile and Kenbo, also said last week it is considering freezing plans to assemble Changhe cars in Egypt due to weak demand. The Egyptian automotive sector has come under pressure this year, with the latest AMIC report showing that car sales fell 10% y-o-y to 41,154 units in the first five months of 2019.

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