FILE PHOTO: Newly manufactured cars are seen at the automobile terminal in the port of Dalian, Liaoning province, China July 9, 2018. REUTERS/Stringer/File Photo
CAIRO – 3 April 2019: Sales of the automotive market dropped 5.2 percent during February 2019, recording 10,857 vehicles, compared to 11,454 thousand vehicles in the same month of 2018, according to the monthly bulletin of the Automotive Market Information Council (AMIC).
AMIC said that passenger car sales dropped 9 percent to 6,980 cars, compared to 7,703 cars in the same month of 2017.
On the other hand, bus sales rose 4 percent on a year-on-year basis to 1,304 buses, and Truck sales climbed 3 percent to 2,573 trucks, according to the report.
Observers believe that the decline in sales in the passenger car sector in February comes as a result of the slowdown caused by the reluctance of a sector of consumers to buy on the back of calls for the purchase pending until the reduction of car dealers margins, which is a campaign called “let it rust”.
On “let it rust”, auto expert and editor-in-chief of Auto Arabia Mohammed Shata questioned the accuracy of AMIC's data and described the car market as completely paralysis.
He stressed in a TV program that the campaign "let it rust" had a significant role in the decline in car sales.
During the program, Head of the General Division of cars Federation of Chambers of Commerce Omar Balbaa, said that there is regression in the car market, adding that the decline of the custom dollar is expected to move the car market.
AMIC announced earlier that total sales in January rose 10.8 percent, reaching 11,467 units, compared to 10,407 units in the same month of 2018.