Egypt’s automotive sales fell by 69% y-o-y in April, passenger car sales down by 70%

Automotive sales continue to decline, falling by 69 percent year-on-year in April, selling 5.1 thousand vehicles compared to April 2022’s recorded 16.6 thousand, revealed the latest data released by the Automotive Marketing Information Council (AMIC).

The AMIC attributed the downtrend to the continued impact of the foreign currency shortage.

Imported passenger car sales were recorded at 6.5 thousand during the first four months of 2023, a fall of 86.7 percent compared to 49.1 thousand sold during the same period in 2022. On a monthly basis, auto sales were down by 23 percent from March’s numbers.

Passenger car sales declined by 70 percent year-on-year to 3.8 thousand, dropping 17 percent month-on-month.

Bus sales fell by 59 percent year-on-year with a 31 percent drop month-on-month, while truck sales were down by 69 percent year-on-year and 39 percent month-on-month.

According to AMIC, Renault led with the most passenger car sales during the January – April 2023 period with around 1,071 cars sold, followed by Mitsubishi with 768 cars sold, Toyota with around 686 cars sold, and Kia with about 669 cars sold.  

AMIC’s reports correlate data contributed by member distributors, which include most of the industry’s participants.