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Egypt's car sales continue to decline in September by 30%  - Daily News Egypt

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Egypt’s car sales continue to decline in September by 30% 

Chevrolet maintained its top rank among the highest sellers in first nine months of 2017


A recent AMIC report indicated a decline in the demand on cars by 30%, recording sales of 12,361 only in September, down from 17,535 in September 2016. The report also showed a decline in the demand on passenger cars by 25%, recording sales of 9,615 compared to 12,800 in September 2016.

Sales of buses dropped 53.5% to record 964 sold in September 2017, down from 2,071 units in the same month of 2016. Truck sales also declined by 33.1%, where September saw sales of 1,782, versus 2,664 in September 2016.

Egyptian Automotive Dealers Association chairperson Osama Aboul Maged predicted sales to continue to be low until the end of the year as the period of boom sales in summer and holidays has ended, so the coming months of 2017 will not witness a significant change.

He added that the continued stability of the currency exchange rate and the implementation of the new sector strategy, which is expected to be approved by the parliament soon, will be the main factors for the sector’s recovery in 2018.

AMIC’s report stated that sales dropped since the beginning of the year and until the end of September by 38%, registering sales of 96,248 units in that period, compared to 155,129 units in 2016. Passenger car sales alone dropped by 37%, registering 69,543 units only, down from 110,201 units in the same period.

The buses saw 44% less sales, at 0,721 buses in the first nine months of 2017, compared to 17,317 buses in 2016. Truck sales also dropped by 38%, to reach 16,984 units, down from 27,611 units during the period of comparison.

The report stated that the demand on locally assembled cars declined by 32.1% to settle at 53,627 units in the first nine months of 2017, compared to 78,969 units in 2016. Imported cars sales also dropped by 44% to 42,621 units, down from 76,160 in the period of 2016.

Locally assembled passenger cars sales dropped by 28..2% to 33,463 cars, compared to 46,588 units, while imported passenger cars dropped by 43.3% to 36,080 units, versus 63,613 units.

Meanwhile, the locally assembled buses saw 52.8% less sales, at 4,888 buses, compared to 10,349 buses in 2016, while imported buses dropped by 30.6% to 4,833 units, versus 6,968 units.

The locally assembled truck sales also dropped by 30.7%, to reach 15,276 units, down from 22,032 units during the period of comparison, while the sales of imported trucks fell by 69.4% to record 1,708 units during the first nine months of the year compared to 5,579 trucks in 2016.

Chevrolet continued its lead of the selling rates in the Egyptian market from January until the end of September 2017, after acquiring 22.3% of sales, at 21,468 cars, despite a 34.7% drop in its sales compared to the same period in 2016, when it recorded 32,890 cars.

In the first eight months of 2017, Chevrolet acquired 23% of car sales and sold 19,200 cars, compared to 29,500 in 2016.

Nissan came second with 15,847 vehicles, accounting for 16.5% of total sales during the first nine months of 2017. Hyundai was third with 13,613 vehicles, accounting for 14.1% of total sales for the same period. Toyota sold 7,930 cars with a market share of 8.2%. Mitsubishi came in the fifth place with 4,804 sold units and 5% acquisition, followed by Chery at the sixth position with 4,419 cars accounting for 4.6% of car sales.

Renault ranked the seventh, selling 4.282 units, accounting for 4.4% of the total sales of the Egyptian market during the same period. Kia sold 4,135 units to get the eighth place with a 4.3% acquisition, while Opel sold 3,813 units accounting for 4% of total sales in the ninth place, while Suzuki sold 3,330 units to come in tenth place with an acquisition of 3.5%.

Topics: AMIC car sales
https://cdn1.dailynewsegypt.com/2017/11/07/egypts-car-sales-continue-decline-september-30/
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