AMIC
This marks a modest increase from February’s 10,600 units and signals a continuation of the sector’s recovery that began after a steep January decline
The beginning of 2024 was particularly difficult for the auto market, with sales plummeting to the lowest point since AMIC started tracking sales data in January 2019. Despite this, the market gradually recovered and finished the year on a high note.
This marks a small rebound in vehicle sales, ending a two-month decline that followed a period of growth between April and July.
According to a report by the Automotive Market Information Council (AMIC), passenger car sales rose significantly by 18 percent, totaling 62.3 thousand units compared to 52.8 thousand in the corresponding period last year.
A major breakthrough in the automotive sector is expected after Egypt officially entered the BRICS.
On a yearly basis, August sales were fueled by a 33.9 percent year-over-year rise in car sales and a 22.0 percent increase in bus sales.
This marks the fourth consecutive month of increased sales, following a significant 43 percent decline in March
This recovery follows a period of decline in January, which marked the lowest point in the past 10 months.
AMIC attributed the rise in car sales to the increase in bus sales by 58.9 percent to reach 2,421 vehicles, compared to 1,524 vehicles in July 2019.
AMIC said that sales of locally assembled cars dropped 11.6 percent during the first half of 2019, recording 35,905 cars, compared to 40,624 cars during the same period of 2018.
AMIC said that passenger car sales dropped 10 percent to 41,154 cars, compared to 45,837 cars in the same month of 2017.
AMIC said that passenger car sales dropped 9 percent to 6,980 cars, compared to 7,703 cars in the same month of 2017.
AMIC said that sales of locally assembled cars jumped 18.5 percent during the first 10 months of 2018, compared to the same months of 2017.
The Automotive Market Information Council (AMIC) said that sales of cars rose 52 percent, selling 14,608 cars, compared to 9,615 cars in September 2017.
AMIC added in a report that around 1,756 buses were sold in last July compared to 1,195 buses in July 2017.
Sales of locally assembled cars reached 48,219 vehicles in the first seven months of 2018, compared to 38,335 vehicles in the same period of 2017.
