In December, the car import bill witnessed a significant 33.6% growth, alongside a $42.7 million expenditure on spare parts, as per the latest report by the Central Agency for Public Mobilization and Statistics.
In December, the car import bill witnessed a significant 33.6% growth, alongside a $42.7 million expenditure on spare parts, as per the latest report by the Central Agency for Public Mobilization and Statistics.
The report highlighted a surge in imports of fully manufactured private cars, ranking among the top-increasing goods in Egypt’s import list for December 2023. Specifically, the value of imported private cars in December 2023 amounted to approximately $214.8 million, up from $160.7 million in December 2022.
Conversely, the “Statistics” report revealed a 27.2% decline in auto spare parts imports during the same period, totaling $42.7 million compared to $58.7 million in December 2022.
Overall, Egyptian imports for December experienced a general decline, totaling $6.51 billion, down from $7.09 billion in December 2022—a decrease of 8.2%. Notably, imports of goods transport vehicles decreased by 29.3%, with December imports valued at $16.6 million compared to $23.5 million in December 2022.
Additionally, imports of external tires and inner tubes for transportation decreased by approximately 18.3%, amounting to about $44.2 million compared to $54.1 million in the same period.
On a positive note, imports of tractors as complete units saw a 15.1% increase in December, reaching $20.1 million compared to over $23.7 million in December 2022.
Shifting focus to market performance, Egypt’s car market, including owners, buses, and trucks, witnessed a 16.6% annual increase in sales during January. Approximately 6.2 thousand cars were sold compared to 5.3 thousand in January 2023, according to the monthly report issued by the Information Council for the Car market “AMIC”.
However, monthly car sales experienced a 40.4% decline in January to December, totaling around 10.4 thousand units. Despite this, there was consistent annual growth in private car sales for the fifth consecutive month, with January 2024 sales reaching about 4.8 thousand cars—a growth of 40.2% compared to January 2023.
On the other hand, bus sales declined to 522 units in January, a 35.6% decrease from 810 units in January 2023. Similarly, truck sales declined to over 943 units, down 17.3% from 1.1 thousand units in the comparison period.
