Back to the complete issue
Wednesday, 1 July 2020

Egypt’s passenger car sales drop further in May as business yet to recover

Passenger car sales fell 17% y-o-y last May to 8,091 vehicles, as the sector has yet to recover from a consumer demand slump in response to the pandemic, distancing measures, and the partial lockdown of the economy, according to figures from the Automotive Information Council (AMIC). Truck sales also fell 17% y-o-y to 2,176 vehicles. In stark contrast, bus sales soared 57% y-o-y to 1,862 units, from 1,186 in May 2019. Chevrolet remained the best-selling brand across all segments, which includes commercial vehicles such as pickup trucks — while Renault, Toyota, and Hyundai topped the passenger car league table.

The drop in May’s car sales was less pronounced than in April, when sales plummeted by nearly a quarter y-o-y. Car companies saw business grind to a near-complete standstill when the government introduced the virus containment measures towards the end of March. New vehicle licensing was also suspended and traffic police offices were only reopened in May.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.