“AMIC”: Car Market Sees 21.7% Sales Surge in February

The Egyptian automotive market witnessed a significant upswing in February, with sales soaring by approximately 21.7%, totaling around 7.3 thousand cars, compared to over 6 thousand cars in the same period of 2023, as per the latest report from the Automotive Market Information Council (AMIC).

Notably, sales of private cars continued their upward trajectory for the sixth consecutive month, reaching approximately 5.8 thousand units in February 2024, marking a remarkable 37.3% increase compared to the same month in 2023.

However, bus sales dipped to 519 units, down 32.2% from February 2023, while truck sales saw a slight decline to 1,026 units, down 2% from the comparative period.

In terms of brand performance, Nissan, the Japanese automaker, secured the top spot in February 2024 with 1,093 cars sold, commanding a 15% market share.

Chevrolet followed closely in second place with a 14% share and 1,030 units sold,

trailed by Toyota in third place with a 13% share and 986 cars sold.

Chery-Ghabbour, the Chinese brand, slipped to fourth place, capturing an 11% market share with 806 cars sold,

while Hyundai climbed to fifth place with a 10% share and 764 cars sold.

Other notable performers included MG in sixth place,

Kia in seventh, Fiat in eighth, Suzuki in ninth, and BYD in tenth place. Mitsubishi, Renault, and Opel secured the subsequent positions, with varying market shares ranging from 1% to 5%.

Overall, the top-selling brands collectively accounted for about 95% of the total market share, with the remaining 5% distributed among other models and brands.