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Monday, 4 January 2021

Hot Wheels

Egypt’s auto sector continued to recover from the shock of the pandemic in November with sales ticking up from October, according to industry data released yesterday. Figures from the Automobile Market Information Council showed that 26,134 vehicles were sold in November, up almost 50% from November 2019 and up from 25,569 in October.

Passenger cars are still underpinning the recovery: More than 20.5k passenger cars were sold in November, up 67% from 12.3k in the same time last year and up from 19.4k in October. Sales volumes of passenger cars fell by as much as 26% during the government’s partial lockdown of the economy earlier this year, which caused dealerships to close and consumers to defer purchases.

Bus, truck sales drop in November: Sales of trucks and buses fell from October but remained higher on a y-o-y basis. Truck sales fell to 3,485 from 3,515 in October but were 7.4% higher than volumes in November 2019. Likewise, bus sales dropped to 2,113 from 2,626 in October but were 4.2% above November 2019 levels.

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