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Zawya
07-04-2025
- Automotive
- Zawya
Egypt's auto sales climb 4.3% MoM in February
Arab Finance: Automotive sales in Egypt jumped by 4.3% month-on-month (MoM) to 10,600 units in February, up from 10,100 in January, according to data from the Automotive Marketing Information Council (Amic). The uptick comes after a sharp 22% MoM drop in January, which interrupted a four-month rally that began in October following a summer slowdown. Passenger cars led the monthly growth, with sales increasing 7.1% to 8,100 units. Meanwhile, bus sales fell for the second straight month, down 11.7% to 616 units. Truck sales slipped 1.2% MoM to 1,800 units. February auto sales also jumped 42.8% year on year (YoY), with all three segments posting gains. Passenger car sales rose 39.2% YoY, bus sales increased 18.7% YoY, and truck sales surged 75.5% YoY. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Egypt Today
06-02-2025
- Automotive
- Egypt Today
Egypt's Auto Market sees strong December growth, capping a positive 2024
Cairo – February 6, 2025: Egypt's automotive market concluded 2024 on a high note, with vehicle sales in December rising by 19.7 percent month-on-month (m-o-m) to approximately 13,000 units, up from 10,800 in November. This surge marks the highest monthly sales volume since August 2022 and extends the upward sales trend that started in October 2024, according to data from the Automotive Marketing Information Council (AMIC). The automotive sector has endured a difficult period, heavily impacted by a foreign exchange (FX) crisis that limited vehicle supply and allowed distributors to increase prices. However, the market began to show signs of recovery following the float of the Egyptian pound (EGP) in March 2024, marking the beginning of a positive shift. The beginning of 2024 was particularly difficult for the auto market, with sales plummeting to just 4,200 vehicles in March — 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. The boost in December's sales was primarily driven by strong performances in the bus and passenger car segments. Bus sales soared by 27.6 percent m-o-m, reaching 952 units, while the passenger car segment saw a significant rise of 24.8 percent m-o-m to 10,600 units. In contrast, truck sales experienced a decline, falling 11.2 percent to 1,400 units. On a year-on-year (y-o-y) basis, total vehicle sales in December grew 24.6 percent compared to the same month in 2023. All three segments saw growth: passenger car sales increased by 26.8 percent, bus sales rose by 20.8 percent, and truck sales grew by 12.4 percent. Looking at 2024 as a whole, Egypt's automotive market saw overall sales increase by 13.2 percent y-o-y, with about 102,200 vehicles sold. Passenger cars accounted for the largest increase, rising by 18 percent y-o-y, while truck sales grew by 5.2 percent. However, bus sales experienced a decline, dropping 12.7 percent y-o-y, showing a mixed performance across vehicle categories. In 2024, Nissan led the Egyptian automotive market with a 15.9 percent share. Chery-Ghabbour followed closely in second place with 13.4 percent, and Chevrolet ranked third with a 12.2 percent market share. Other top ten brands included Hyundai, Toyota, MG, BYD, Mitsubishi, Kia, and Renault. Minister of Finance Ahmed Kouchouk recently revealed that the Egyptian government is preparing two major initiatives to promote the use of natural gas in cars and buses, along with encouraging the adoption of electric vehicles (EVs) in the market. Egypt's non-oil private sector saw impressive growth in January, marking its most robust performance in over four years, according to the latest Purchasing Managers' Index (PMI) report from S&P Global. This growth is the first observed since August and signals a significant rebound, reflecting renewed optimism in the non-oil economy as the country enters 2025.
