Car Market in Egypt Sees 12% Growth in 2024: Nissan Leads the Way

The Egyptian car market experienced significant growth in the first 10 months of 2024, with total sales reaching 78,400 vehicles—an increase of 12.02% compared to 70,010 vehicles sold in the same period of 2023.

This surge reflects a recovering market, bolstered by increasing consumer demand and competitive offerings.

Passenger Car Sales Surge by 18%

According to the latest report from the Automotive Market Information Council (AMIC), passenger car sales showed remarkable growth, totaling 62,300 units—an 18% increase compared to 52,800 units sold during the corresponding period last year.

October alone accounted for 9,600 passenger cars sold, representing a 7.3% year-on-year rise from 8,900 units sold in October 2023.

Trucks Steady, Bus Sales Decline

Truck sales across various categories remained stable, recording a slight increase of 0.1% with 10,380 units sold compared to 10,370 units during the same period in 2023. Conversely, bus sales saw a notable decline of 15.6%, dropping from 6,700 units in 2023 to 5,600 units in 2024.

Top-Selling Brands: Nissan Leads the Pack

Japanese automaker Nissan maintained its leadership position in the Egyptian car market, capturing 15.1% of the market share with 11,800 units sold.

Close on its heels, Chery Ghabbour ranked second with a 13.6% market share, selling 10,600 units. The top five brands were rounded out by:

• Chevrolet: 9,600 units sold (12.3% market share)

• Hyundai: 8,900 units sold (11.5% market share)
• Toyota: 7,900 units sold (10.1% market share)

Emerging Contenders in the Market

Other notable performers included MG, which secured sixth place with 4,900 units sold (6.3% market share), and BYD, selling 4,000 cars for a 5.2% market share. Kia followed in eighth place with 3,100 units sold (4% market share), while Mitsubishi and Renault rounded out the top ten with 2,500 and 2,100 units sold, respectively.

Noteworthy Mentions

The Suzuki brand fell to eleventh place, selling 1,800 cars (2.4% market share), while Geely Abu Ghaly ranked twelfth with 1,400 units sold (1.8% market share).

Other brands collectively accounted for 9,100 units sold, representing an 11.7% market share.

Market Outlook

The Egyptian car market’s consistent growth highlights its resilience and potential, with leading brands continuing to compete fiercely for market dominance.

The upward trajectory in passenger car sales and the steady performance of trucks indicate positive momentum, despite challenges such as declining bus sales.

With major players like Nissan, Chery Ghabbour, and Chevrolet setting the pace, the market is poised for further expansion as 2024 comes to a close.