“Egypt’s Automotive Landscape: Surge in Car and Spare Parts Imports in September”

Introduction:

The import dynamics in Egypt’s automotive sector witnessed remarkable shifts in September, as outlined in the monthly report by the Central Agency for Public Mobilization and Statistics.

1. Soaring Private Car Imports: A 156.6% Surge

Egypt experienced a substantial surge in the import of privately-owned cars, marking a staggering 156.6% increase. The value of imported owner cars reached $199.7 million, compared to $77.8 million in the same period last year.

2. Upward Trend in Auto Spare Parts Imports: 11.1% Growth

The report highlighted an 11.1% increase in the import of auto spare parts in September compared to the previous year. The total value amounted to $49.4 million, reflecting a $5 million rise from September 2022.

3. Overall Dip in Egyptian Imports: 16.5% Decline

Despite the surges in specific sectors, Egypt’s overall imports experienced a decline of 16.5%. The total import bill for September was $6.08 billion, down from $7.28 billion in September 2022.

4. Slump in Goods Transport Vehicles Imports: 49.3% Decrease

Imports of goods transport vehicles witnessed a sharp decline of 49.3%. September recorded imports worth $14.6 million, down from $28.8 million in September 2022.

5. Drastic Drop in Tires and Tubes Imports: 84.2% Decrease

Imports of external tires and inner tubes for transportation registered a notable decrease of 84.2%, amounting to $4.2 million, down from $26.6 million.

6. Surge in Tractors as Complete Units: 130% Increase

Conversely, there was a significant increase of 130% in the imports of tractors as complete units during September, reaching $12.2 million compared to $5.3 million in September 2022.

7. AMIC Report: Decline in Overall Car Sales by 58.5%

The Automotive Market Information Council (AMIC) reported a substantial decline of about 58.5% in total car sales in Egypt during the first 10 months of the year, dropping from 168.8 thousand cars in 2022 to over 70,000 cars.

8. Plunge in Bus and Truck Sales: 53.9% and 67% Decrease

Bus sales witnessed a decline of 53.9%, with 6.7 thousand buses sold in 10 months compared to 14.6 thousand buses in 2022. Truck sales also plummeted by 67%, recording the sale of over 10.3 thousand trucks compared to 31.1 thousand units in the same period of comparison.

These fluctuations paint a vivid picture of the changing tides in Egypt’s automotive market, reflecting both challenges and opportunities for the industry.