Cars worth more than EGP 2m registered more sales than middle-class cars worth around EGP 150,000. This reflects the reluctance of the middle class to buy cars during a phase of economic uncertainty and turmoil, while the richer segments of society of course do not have to pay much attention to their expenses.
The positions 1 to 18 were all occupied by cars with a selling price of more than EGP 2m, with the Toyota Land Cruiser recording sales of 302 cars to be the 18th best-selling car in the first quarter of this year, topping cheaper cars such as the Chevrolet Lanos and the Renault Logan. The Land Cruiser recorded 85 sales in January, 139 in February, and 78 cars in March, with the price of the car being more than EGP 2.7m.
The Lanos occupied the 19th position, with sales of 299 cars during the first quarter of this year; sales for January recorded 182, 48 in February, and 69 in March. The price of the car is EGP 160,000.
The AMIC report showed that the demand on passenger cars during the first quarter of this year decreased by 41%, recording sales of 19,700 cars compared to 33,400 during the same period of 2016.
Domestic car sales declined by 37.7% to record sales of 8,061 vehicles compared to 11,600 vehicles in 2016. Sales of imported passenger cars dropped by 43.1% to 11,643 vehicles compared to 20,446 vehicles in 2016.
Bus sales declined by 54.8% to 2,955 units in Q1 compared to 6,539 units in 2016.
Sales of trucks dropped by 60% to record sales of 3,888 trucks compared to 9,735 trucks, while total sales of trucks for the same period dropped by 46.5% to 26,500 trucks sold compared to 49,800 trucks.
The report said the demand on locally assembled cars dropped by 45.8% during the first quarter of this year, recording 13,100 units compared to 24,300 units. Sales of imported cars declined by 47% to record 13,400 units compared to 25,400 units.
The commercial brand Nissan topped the Egyptian market in March, selling 2,269 cars, followed by Hyundai selling 1,677 units.
Renault sold 786 cars and occupied the third position, while Kia followed with 515 units.