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Car market grows 15% in first half of 2013 - Daily News Egypt

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Car market grows 15% in first half of 2013

102,000 vehicles sold despite political turmoil


Egypt’s car market has reported high rates of growth since the beginning of 2013, with a total of 102,452 vehicles sold, compared to 88,775 during the same period last year, representing 15% growth. (AFP File Photo)
Egypt’s car market has reported high rates of growth since the beginning of 2013, with a total of 102,452 vehicles sold, compared to 88,775 during the same period last year, representing 15% growth.
(AFP File Photo)

By Sharif Sarag

Egypt’s car market has reported high rates of growth since the beginning of 2013, with a total of 102,452 vehicles sold, compared to 88,775 during the same period last year, representing 15% growth.

According to a report released by the Automotive Marketing Information Council (AMIC), a total of 57,000 imported vehicles were sold during the first half of 2013, compared to 49,800 during the same period last year, a 14% increase. Meanwhile, sales of locally assembled vehicles increased 17% during the first half of 2013, to 45,400 vehicles sold compared to 38,900 during the first half of 2012.

The release of these numbers contradicted expectations that the market would witness sharp decreases in sales in the month of June due to political turmoil, beginning with the launch of the Tamarod campaign, and ending with the army’s announcement that a week long time frame would be granted to Egypt’s various political forces reach a consensus that would meet the people’s demands.

Egypt’s car market did well in June despite these circumstances, with a total of 16,000 vehicles sold, a 17% percent increase compared to June 2012. A total of 11,300 passenger vehicles were sold during this time, compared to 9,500 in June 2012, representing an 18% increase, whereas sales in buses increased 19% during June, totalling 1,800, compared to 1,500 during the same period last year. A total of 2,800 trucks were sold in June, compared to 2,500 in June 2012, representing an 11% increase.

The report further stated that 2000 CC vehicles witnessed a 169.9% increase in sales during June, with a total of 1,300 sold compared to June 2012. These numbers helped offset the decline seen in sales of SUV’s, particularly for 1600 CC vehicles, which saw an 11% decrease in June, going down from 6,200 in June 2012 to 5,500 in June.

Pick-up trucks made up roughly 70% of all truck sales in June, with a total of 2,000 vehicles sold, compared to 1,600 in June 2012, representing a 20% increase. Meanwhile heavy duty and medium sized trucks, in addition to mini-van pickup trucks, witnessed overall decreases in sales during June.

Translated from Al-Borsa

http://goo.gl/iYcZ1f

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https://dailynewsegypt.com/2013/07/27/car-market-grows-15-in-first-half-of-2013/
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