October auto sales signal modest rebound, climbing 1.1% month-on-month

Cairo – December 10, 2024: Auto sales showed a slight improvement in October, rising by 1.1 percent month-on-month (m-o-m) to a total of 9.6k vehicles, up from 9.5k in September, according to data from the Automotive Marketing Information Council (AMIC).

This October’s performance follows a particularly challenging March, when auto sales plunged by 43 percent m-o-m to just 4.2k vehicles — the lowest monthly total since tracking began in January 2019.

This marks a small rebound in vehicle sales, ending a two-month decline that followed a period of growth between April and July.

Passenger car sales dropped by 2.3 percent m-o-m to 7.4k vehicles, while truck sales surged by 20.3 percent m-o-m, reaching 1.4k units. Bus sales saw a 4.5 percent m-o-m increase to 760 units, contributing to the overall sales boost.

On a year-on-year (y-o-y) basis, October's sales were up 7.3 percent compared to the same month last year, largely due to a strong 45.3 percent y-o-y jump in truck sales, as well as a 6.6 percent y-o-y increase in passenger car sales. Bus sales experienced a significant 24.9 percent y-o-y decline during the same period.