Surge in Private Car Imports, Contrasting Decline in Auto Spare Parts Imports in October

In October 2023, the import bill for finished private cars witnessed a substantial surge, totaling $232.6 million, marking a noteworthy increase of 139.6% compared to the $97.1 million recorded during the same period in the previous year.

The monthly report from the Central Agency for Public Mobilization and Statistics highlighted a contrasting trend, revealing a 20.2% decline in the imports of auto spare parts during the same October period, with a value of over $41 million, down from $51.4 million in October 2022.

Egyptian imports, overall, experienced a general decrease for October, reaching $6.38 billion, down 18% from the $7.78 billion reported during the same month in 2022.

Imports of goods transport vehicles saw a significant decrease of about 47%, recording imports worth $10.6 million in October, compared to $20 million in October 2022, marking a decrease in value of about $9.4 million.

On the flip side, imports of external tires and inner tubes for transportation recorded a noticeable 2.7% increase in October, reaching $44.1 million, up from $42.9 million, reflecting a $1.2 million increase over the comparison period.

The import of “tractors” as complete units experienced a remarkable surge of approximately 174% in October, reaching $13.7 million, compared to $5 million in October 2022, signifying an increase of about $8.7 million.

The Automotive Market Information Council (AMIC) reported an estimated total car sales of about 79.9 thousand cars in Egypt during the first 11 months of 2023, reflecting a stark 54.8% decline from the 176.8 thousand cars sold during the same period in 2022.

During the first 11 months of the current year, private car sales experienced a 53% decline, totaling 60.8 thousand cars, compared to 128.3 thousand cars in the first ten months of 2022.

Bus sales also witnessed a downturn, with 7.6 thousand buses sold in 11 months, compared to 15.9 thousand buses during the same period in 2022, marking a 52% decrease. Truck sales similarly declined, with sales of over 11.4 thousand trucks, compared to 32.5 thousand units in the comparison period, reflecting a 65% decrease.