Egypt Car Sales Drop 61.8% in 9 Months – AMIC
The Egyptian Automotive Market Information Council (AMIC) has reported a significant drop in the country’s car sales over the first nine months of the current year. There has been a stark decline of 61.8%, with sales figures plummeting from 159.8 thousand vehicles in the same period in 2022, to just 61.033 thousand vehicles this year.
Breaking down the sales by category, there has been a 61% downturn in the sales of passenger cars, with only 45.9 thousand units sold as opposed to the previous year’s 117.04 thousand. Similarly, the bus market witnessed a 56.6% reduction, with sales shrinking to 5.7 thousand from 13.2 thousand buses. The truck segment was not spared, experiencing a sharp 68% sales decline, dropping from 26.6 thousand to 9.3 thousand units sold.
Amidst this general market contraction, certain automotive brands have retained their prominence. Nissan, the Japanese automotive giant, maintained its lead in the Egyptian market, having sold 9.4 thousand cars and securing a 15.5% market share. Chevrolet took second place with a 12.3% market share, followed closely by Chery, the Chinese marque under Ghabbour, which captured an 11.8% market share. Toyota held firm in fourth place, while Suzuki climbed to fifth, reflecting a diverse consumer preference within the market.
Hyundai, Renault, BYD, and MG also featured in the sales rankings, taking spots six through nine, respectively. Each of these brands showed resilience despite the market’s overall decline, showcasing the competitive nature of Egypt’s car market.
On a positive note, the month of September did see a small uptick in the sales of passenger cars, increasing by 15.4% compared to the same month last year. This silver lining, however, did not extend to the bus and truck categories, which continued to face declining sales.
The report thus paints a picture of a challenging environment for the Egyptian automotive industry, with most brands facing uphill battles in maintaining sales momentum amidst broader market challenges.
