logo
Auto sales in Egypt climb 86.1% YoY in 4 months

Auto sales in Egypt climb 86.1% YoY in 4 months

Zawya12-06-2025
Arab Finance: Automotive sales in Egypt rose by 86.1% year-on-year (YoY) in the first four months of 2025, reaching 43,700 units, versus 23,500 units in the year-ago period, according to a report from the Automotive Marketing Information Council (AMIC).
Passenger car sales surged by 89% YoY during the four-month period to 33,900 units from about 17,900 units.
The report also showed that sales of buses rose as well, reaching 2,000 units, up by 39.6% from 1,800 buses in the same period last year.
Similarly, truck sales were up by 95.5% YoY, recording 7,200 units in the four-month period of 2025, versus 3,600 units.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Standard Chartered expands MENA custody network with Egypt launch
Standard Chartered expands MENA custody network with Egypt launch

Zawya

timean hour ago

  • Zawya

Standard Chartered expands MENA custody network with Egypt launch

Standard Chartered announced today the launch of its direct custody services in Egypt, further expanding its global post-trade offering across the Middle East and North Africa (MENA). This important milestone builds on the successful rollout of its direct custody services in the Kingdom of Saudi Arabia earlier this year and reflects the Bank's broader strategy to deepen its presence across high-growth, strategically important markets. The service enables institutional clients to hold and manage a wide range of securities with greater efficiency, transparency, and security. Operated through Standard Chartered Bank Egypt, the platform supports a wide range of securities including equities, treasury bills, government bonds and corporate bonds. Services include safekeeping, settlements, and corporate actions, and can be delivered via various mediums including through the Bank's globally renowned Straight2Bank (S2B) platform. Mohammed Gad, Chief Executive Officer, Standard Chartered Egypt, said: 'This launch represents a key milestone in our efforts to strengthen Egypt's financial infrastructure and expand investor access to the region. Egypt is a vital market for us, not only as a new BRICS member, but as a rising investment hub linking Africa, the Gulf and beyond.' He added: 'By introducing direct custody services from day one, we are providing our institutional clients with greater speed, transparency, and operational efficiency. Backed by our global platform and deep local expertise, this offering will help unlock capital flows into Egypt and support the growth of a more resilient, connected capital market.' The custody service in Egypt is fully licensed by the Financial Regulatory Authority and approved by the Central Bank of Egypt. It supports Egypt's broader ambitions to modernise its financial ecosystem, attract foreign direct investment, and diversify sources of capital in line with Vision 2030. With growing interest from investors across Asia, the Gulf and Africa, the launch is well-timed to meet demand for institutional-grade infrastructure and post-trade solutions. Scott Dickinson, Regional Head of Financing and Securities Services AME, said: Standard Chartered's expanding custody footprint across the region underlines its commitment to supporting capital markets in key emerging economies. By improving investor access, raising service standards, and helping to attract long-term capital, the Bank continues to play a leading role in connecting global investment to opportunity across the MENA region. For further information please contact: Wasim Ben Khadra (WBK) Cluster Head of Corporate Affairs, Brand, Marketing & Head of Communications for UAE, Middle East and Pakistan Standard Chartered About Standard Chartered We are a leading international banking group, with a presence in 54 of the world's most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges. For more stories and expert opinions please visit Insights at Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.

Exceptional results reinforce Mountain View's leadership in Egypt's real estate development
Exceptional results reinforce Mountain View's leadership in Egypt's real estate development

Zawya

timean hour ago

  • Zawya

Exceptional results reinforce Mountain View's leadership in Egypt's real estate development

Cairo: Mountain View continues to reinforce its position as a leading real estate developer in the Egyptian market, announcing exceptional sales of EGP 65 billion in H1 of 2025, including EGP 45 billion in Q2 alone. This milestone reflects the strong and growing demand for the company's developments, underscoring the sustained confidence of its customers and its vision to deliver fully integrated, premium communities. This outstanding performance is driven by robust year-over-year growth. In the first half of 2024, the company achieved sales of approximately EGP 37.9 billion, representing a 71.5% increase year-over-year, a testament to Mountain View's successful expansion strategy, its ability to sustain growth, and its role in generating long-term value in Egypt's real estate market. These results reaffirm investor confidence in the company as one of the country's top developers. In line with its ambitious strategic vision, Mountain View is continuing construction across its various projects, with an allocation of EGP 18 billion for construction works in 2025. This investment reflects the company's commitment to translating plans into tangible achievements built to the highest standards of quality and precision. In the first half of the year, Mountain View successfully delivered 2,000 residential units across multiple projects, further demonstrating its execution capabilities. The company's record-breaking sales also fueled major successes in its flagship projects. Plage in the North Coast achieved over EGP 7 billion in sales within a short period, setting a new benchmark in Egypt's premium coastal market. Meanwhile, LVLS project recorded EGP 2.5 billion in sales within just 24 hours of its launch, underscoring the extraordinary market appetite for Mountain View's new developments. 'We are building a model for sustainable growth founded on mutual trust with our customers and partners, and on creating real value with lasting impact,' remarked Eng. Wael Ezz, Co-CEO of Mountain View. 'Achieving record sales of EGP 65 billion in the first half of 2025 is a testament to our market leadership, our ability to turn our vision into tangible achievements, and our capacity for continuous growth. We remain committed to expanding our investments, developing innovative and integrated communities that fulfill the aspirations of current and future generations, and contributing to the strength of Egypt's national economy, cementing our role as a strategic partner and key driver of urban development in the country.' For his part, Eng. Wael Lotfy, Co-CEO of Mountain View, added, 'These exceptional results are clear proof of the success of our vision and expansion strategy, and of our ability to deliver genuine value to the market. Today, Mountain View is not only reshaping the real estate sector, but also playing an active role in driving Egypt's economy forward, creating thousands of direct and indirect jobs, attracting major investments, and boosting Egypt's real estate export sector with world-class projects both inside and outside the country.' Over the past two decades, Mountain View has developed more than 20 diverse projects in strategic locations across East and West Cairo and along the Red Sea and Mediterranean coasts. This track record has reinforced its reputation as a trusted, leading developer in the eyes of customers, investors, and the market, as reflected in its record-breaking sales in H1 2025. Led by a team of expert professionals, the company operates with a forward-looking vision that extends beyond the local market to the wider region. In 2024, Mountain View launched its Saudi operations in partnership with leading developers in the Kingdom, marking a significant step toward regional leadership and delivering added value to new markets. About Mountain View: Mountain View is a leading Egyptian company founded in 2005 with the aim of developing integrated urban communities. The Company adopted a unique vision, 'Bringing life to land and spreading happiness around us,' by applying the 'Science of Happiness and Innovation' in its projects and implementing them according to global standards. Over more than 20 years of urban development, Mountain View, within the framework of its mission 'Together building a lighthouse to inspire towards meaningful, happy communities,' has successfully developed more than 20 distinctive projects in three main destinations: West Cairo, East Cairo, and coastal areas overlooking the Red Sea and the Mediterranean, led by a team of experts and outstanding calibers. As part of its strategy to spread the concept of the Science of Happiness and Innovation, Mountain View is constantly working to apply this approach beyond the Egyptian market. In 2024, the company launched Mountain View KSA in cooperation with leading real estate developers in Saudi Arabia, reflecting its ambitious expansion vision. The company is committed to delivering the latest architectural and engineering designs and innovative concepts, such as "The Lighthouse", the first place dedicated to community happiness, which operates its distinguished projects, allowing families to "Experience Happiness'.

Sarwa Life joins forces with Al Ahly Momken to broaden insurance policies premiums payment options
Sarwa Life joins forces with Al Ahly Momken to broaden insurance policies premiums payment options

Zawya

timean hour ago

  • Zawya

Sarwa Life joins forces with Al Ahly Momken to broaden insurance policies premiums payment options

Cairo: As part of Contact Financial Holding's overarching vision to revolutionize Egypt's financial and insurance landscape by driving digital transformation and forging impactful strategic partnerships, Sarwa Life Insurance, the Group's life insurance arm, has announced a strategic collaboration with Al Ahly Momken, a key player in e-payment solutions and financial services. Under this agreement, Sarwa Life clients across Egypt will be able to seamlessly settle their insurance policy premium through Al Ahly Momken's extensive payment network. This step represents an extension of a successful partnership, reflecting the two companies' shared commitment to facilitating insurance policies premium for Sarwa Life clients via multiple channels, including branches, e-wallets, ATMs, the mobile app, and Al Ahly Momken's nationwide POS network, which serves over 5.5 million users. This initiative aligns with Sarwa Life's strategy to enhance customer experience while boosting operational efficiency. 'Our strategic alliance with Al Ahly Momken marks a significant milestone in our journey toward delivering a fully integrated digital insurance experience. This collaboration allows us to offer flexible, secure payment options that fit seamlessly into our customers' lifestyles, making it easier than ever for them to manage their policies. At its core, this partnership goes beyond technical integration, it reflects a joint commitment to empowering individuals and ensuring that insurance protection extends to all segments of society'. Stated Rimah Asaad, Managing Director of Sarwa Life. 'At Al Ahly Momkn, we are committed to the strategic expansion of our footprint in the insurance sector. Our collaboration with Sarwa Life represents a continued expansion of our portfolio, building on a track record of successful partnerships. Leveraging our nationwide network of over 150,000 points of sale, we provide customers with secure, convenient, and accessible channels to pay their insurance premiums anytime, anywhere. This agreement reinforces our commitment to delivering innovative payment solutions that advance digital transformation and support the evolving needs of the financial and insurance sectors." Said Mohab Gamal, Deputy CEO and Chief Business Officer at Al Ahly Momkn. It is noteworthy that this agreement builds on the proven success of the previous partnership between Contact Pay, the Group's electronic payments arm, and Al Ahly Momken in delivering advanced payment solutions. It marks a new chapter in our cooperation, expanding into the settlement of life insurance premiums and integrating financial and insurance services with cutting-edge digital payment technologies. This step not only advances financial inclusion but also aligns seamlessly with Contact Financial Holding's vision of fostering a more inclusive and sustainable digital financial ecosystem.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store