The sales of cars declined in June by 38% compared to the same period of 2016. The market witnessed the selling of 10,007 units compared to 16,350 units, according to the report issued by the Automotive Marketing Information Council (AMIC).
The report showed a decline in passenger car units by 44% during the same months, recording sales of 6,800 cars, compared to 12,200 units in June 2016.
The sales of buses have declined by 22.8%, recording sales of 1,140 buses in June 2017, compared to 1,470 units sold in 2016. The sales of trucks have declined by 20.6%, selling 2,009 trucks in June, compared to 2,640 trucks during the same period in 2016.
Osama Aboul Magd, head of the Egyptian Automotive Dealers Association, said that the decline in sales is the result of the gap of prices between cars over the past eight months, especially with the beginning of the new year, when the prices of cars doubled, which did not help sales in February and March, despite the discount offers, which were not fruitful.
Aboul Magd expects the decline of sales after the stabilisation of the dollar price at EGP 18 to continue, resulting in keeping the prices currently fixed at their current levels, which is not suitable for the consumers’ purchasing power.
AMIC’s report showed a decline of 44.47% in sales since the beginning of the year until the end of June, where 56,400 units were sold in 2017, compared to 101,600 during the same period in 2016. The sales of passenger cars declined by 43.5%, recording sales of 39,900 units, compared to 70,800 units.
The sales of buses have declined by 47.6% during the first half (H1) of this year, recording sales of 6,100 buses, compared to 11,800 during the same period of 2016.
The sales of trucks have declined by 45.9%, with 10,200 sold units compared to 19,005 sold units during the same period in 2016.
The AMIC report said that the demand on locally-assembled cars declined by 39.9%, reaching 30,007 sold units during H1 2017, compared to 51,100 sold units during the same period in 2016. The number of imported cars declined by 49.2%, reaching sales of 25,700 cars compared to 50,500 cars last year.
The sales of locally-assembled passenger cars have declined by 36.6%, recording sales of 18,400 passenger cars, compared to 29,005 cars in 2016. The sales of imported cars have declined by 48.4%, recording sales of 21,560 cars, compared to 41,700 cars in 2016.
The sales of locally assembled buses declined by 56.7%, recording sales of 3,005 buses, compared to 7,006 units during the comparison period, whereas imported buses declined by 34.1%, recording 3,100 sold buses, compared to 4,700 buses in 2016.
Locally-assembled truck sales have declined by 38.2%, recording 9,200 sold units, compared to 14,900 units during the same period last year. On the other hand, the sales of imported trucks declined by 74.8%, selling 1,002 trucks during H1 2017, compared to 4,007 trucks last year.
