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Egyptian automotive sector struggles to find accelerator - Daily News Egypt

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Egyptian automotive sector struggles to find accelerator

Despite posting the highest sales in January and February, Korean automakers post 42% retreat


The Egyptian automotive sector has struggled in the first two months of 2016 with foreign automakers and car manufacturers reporting a paltry sale of 21,150 cars at a value of EGP 4.2bn.

The 21,150 units sold on the Egyptian market represent a 33% retreat in a year over year comparison with 2015.

Korean automakers have sold 6,307 cars at a value of EGP 955m. Despite selling the most cars on the Egyptian market, Korean automakers posted a 42% retreat in sales.

Japanese automakers sold 5,985 cars at a value of EGP 1.33bn in the first two months of 2016, a 25.3% retreat in sales.

European automakers sold 4,301 cars at a value of EGP 1.15bn, a 22.9% retreat in sales.

US automakers sold 3,414 cars at a value of EGP 650m, a 22.3% retreat in sales.

Chinese automakers sold 1,024 cars at a value of EGP 96m, a 62.5% retreat in sales.

The Malaysian automaker Proton sold 120 cars at a value of EGP 15.5m, a 13.7% retreat in sales.

In January, automakers sold 9,600 cars valued at EGP 1.9bn, a 38% retreat in sales.

The Japanese automakers sold 2,700 cars at a value of EGP 667m in January, a 33.4% retreat in sales in a year over year comparison. Korean manufactures sold 2,562 cars at a value of EGP 317.9m, a 51.3% retreat in sales.

US car manufactures sold 2,012 cars at a value of EGP 375m in January, a decline of only 3%.

European automakers sold 1,908 cars in January, at a value of EGP 516.9m, a 27% retreat in sales.

Chinese automakers sold 482 cars at a value of EGP 44m, a 67.1% retreat in sales.

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