Egypt’s car sales fall 5.7% in 2019 -AMIC
Automotive sales fell 5.7% to 183k units last year, down from 194k in 2018, Al Mal reported citing figures from the Automotive Marketing Information Council (AMIC), an industry association. Passenger car sales led the decline, falling 13% in 2019 from the previous year to 127k vehicles. Buses (+27%) and trucks (+9%) were bright spots last year. The report, which relies on self-reporting by member distributors, shows Chevrolet as top-selling overall brand in 2019 (including passenger car and commercial vehicle sales), accounting for 23% of total sales. Nissan came second capturing a 11.7% market share, followed by Hyundai at 9.7%. The market contraction came despite cuts to customs rates on automobiles assembled in the European Union and as the EGP strengthened against the greenback in the back half of 2019.