The automotive market achieved sales of EGP 7.15bn during the first quarter (Q1) of 2017, as more than 19,700 units were sold—a 46.5% decrease in comparison to the same period last year, which saw the sale of 33,000 units.
Japanese brands topped the list, with sales of 9,300 cars from the beginning of 2017 to the end of March, with a total value of EGP 3.9bn.
Korean brands ranked second with 4,300 units sold at a value of EGP 1.25bn, followed by European brands with 2,800 units sold worth EGP 1.01bn.
American brands sold about 2,100 vehicles during Q1 2017, which were worth EGP 680m, putting them in fourth place in the list of bestselling cars within the Egyptian automotive market.
Chinese brands occupied the fifth position, with sales of 928 vehicles with a total value of EGP 169.6m.
The surge of car price hikes in 2016 has already boosted the growth in the value of car sales to reach EGP 10.4bn, after the automotive market had achieved total sales value of EGP 44.4bn last year and EGP 34bn in 2015.
In 2016, the market of passenger cars saw the sale of more than 142,000 units, with a decline of 27% when compared to the 195,500 cars sold in 2015.
Korean brands topped the market in 2016, with sales of 46,100 cars sold from January to December with a total value of EGP 12.07bn.
Japanese brands ranked second, with 40,680 units worth EGP 16.28bn, followed by European brands, with sales of 19,500 cars worth EGP 6.3bn.
American brands sold roughly18,700 vehicles in 2016 worth EGP 4.88bn, occupying the fourth position in the list of bestselling cars within the Egyptian automotive market.
Chinese brands occupied the fifth position, with sales of 16,600 units, a growth of 1.8% and a total value of EGP 3.4bn.