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Sunday, 7 June 2020

Egypt’s passenger car sales drop in April as covid lockdown measures bite

Passenger car sales dropped 26% y-o-y in April to 5,852 vehicles, according to figures from the Automotive Information Council (AMIC) picked up by Amwal Al Ghad. Truck sales dropped 41.7% y-o-y to 1,467 units.

The drop was expected, even after solid growth in 1Q2020: Egypt’s automotive companies saw business grind to a near-complete standstill when the government introduced lockdown measures towards the end of March, including the suspension of new vehicle licensing and reduction of working hours. Traffic police offices reopened for new car registration last month.

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