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Car sales grow 17% year-on-year in January - Daily News Egypt

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Car sales grow 17% year-on-year in January

8.2% reduction in locally manufactured cars, compared to 48% increase in imported cars

Photo courtesy of Automotive Market Information Council (AMIC) Report
Photo courtesy of Automotive Market Information Council (AMIC) Report

Car sales in January 2015 increased by 16% compared to the same month in 2014, according to the Automotive Market Information Council (AMIC). Cars agents and traders sold approximately 22,700 cars compared to 19,700 in 2014.

According to the report, 15,500 private cars were sold during January 2015 compared to 13,300 within the same period of last year, an increase of 17%, acquiring 68% of the market sales. In January 2015, 4,500 trucks were sold compared to 4,300 in January 2014, a growth rate of 2%, to acquire 20% of the market sales.

Bus sales also increased by 39% in a year, to 2,744 buses compared to 1,900 buses in January 2014, representing 12% of the market sales.

The report showed that the locally manufactured and assembled cars sales decreased with percentage amounts to 8.2% during January 22015, compared to the same month in 2014. Imported cars sales in the Egyptian market witnessed growth amounts to 48% during the same period.

The report mentioned that the category between 1500 and 1600 CC was the top-selling in the private cars market, to achieve 7,400 sold cars with 30% growth than the same period in 2014. The report said the locally manufactured and assembled cars sales witnessed reduction with percentage amounts at 14.4%, and in contrast, imported private cars sales increased 50.4% compared to January 2014.

The sales of locally manufactured buses also grew by 3% compared to 2014, in addition to imported buses which grew by 69%. This is besides growth in the locally assembled trucks sector at 1.3% and imported trucks at 5.3%.

It is notable that sales on the local cars market exceeded all expectations for 2014, recording 293,000 cars compared to 195,900 cars sold in 2013, with increase of 49.6%. AMIC’s expectations supported the opinions that the market would sell only 280,000 cars.

According to the AMIC’s final report for 2014, private car sales achieved a huge leap, selling 208,000 cars compared to 133,700 in 2013 with 55% increase. Bus sales increased at a rate of 30% and the trucks at a rate of 41%. Chairman of AMIC expected that the sales will grow during 2015 to record 352,000 cars with a growth rate of 20%.

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