Truck Sales in Egypt Decline by 71% in H1 2023: Chevrolet Takes the Lead
Egypt has witnessed a significant drop in truck sales during the first half of 2023, with figures revealing a 71% decline. According to a report from the Automotive Market Information Council (AMIC), sales stood at roughly 5.9 thousand trucks over the past six months, a stark contrast to the 20.6 thousand units in the same period the previous year.
A breakdown of the sales:
- Locally Assembled Trucks: These experienced a sharper decline, plummeting by 74.6%. Approximately 4.6 thousand units were sold in H1 2023, compared to 18 thousand in the previous year’s first half.
- Imported Trucks: Sales of imported units also fell, albeit at a slower rate of 45.7%. The period saw sales of 1.3 thousand trucks, down from 2.5 thousand in the corresponding period a year earlier.
In terms of brand performance:
- Chevrolet secured its position at the top, capturing a dominant 65% market share. This translates to around 3.8 thousand trucks sold.
- Toyota followed in the second spot, garnering a 10.8% market share with 648 units sold.
- GMC came in third with a 7.6% market share, translating to sales of 456 trucks.
- Other notable brands include Suzuki (456 trucks), Mitsubishi (254 trucks), MCV/Mercedes (143 trucks), Fiat (55 units), Hyundai (49 trucks), Volvo (24 trucks), and Shacman (17 trucks).
It wasn’t just the truck sector that experienced a dip; the car market as a whole saw a downturn. Sales figures for the first half of 2023 amounted to 36.8 thousand cars, a massive drop from the 122.3 thousand units sold in H1 2022, representing a 69.8% decline.
This downward trend also extended to the passenger car sector, which recorded a 71% reduction in sales—26.8 thousand cars in H1 2023 compared to 92.2 thousand cars in H1 2022.
Lastly, the bus segment didn’t fare any better, with sales dropping by 56% to 3.9 thousand buses from 9 thousand in 2022.
