Back to the complete issue
Sunday, 30 August 2020

Auto sales up 14% y-o-y in July

Auto sales rebound in July: Auto sales showed signs of recovery in July from a downturn in the second quarter caused by the covid-19 pandemic, according to industry data released yesterday. Figures released by the Automotive Marketing Information Council (AMIC) showed sales rising 14.4% y-o-y in July to reach 18.3k vehicles, compared to 16k vehicles last year. Sales volume fell by as much as 26% during the government’s partial lockdown of the economy, which caused dealerships to close and consumer demand to fall.

In detail: The rise was driven mainly by bus sales, which increased 58.9% to 2.4k vehicles, compared to 1.5k vehicles sold last July. Trucks sales rose 15% to 3.3k vehicles, compared to 2.9k last year. Sales of passenger cars jumped around 8% to 12.5k vehicles, compared to 11.5k sold in July 2019.

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 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; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.