Fiat Chrysler Automobile (FCA) managed to sell 4,717 cars in Egypt in 2019, acquiring a market share of 3.7% of total passenger cars, which achieved sales of 127,000 cars the same year, bringing the group’s share growth to 54% compared to 2018.
In terms of imported cars, FCA rose by two places to sixth place in 2019, after being able to account for 5.9% of sales in this category, a growth of 48% compared to 2018.
The majority of FCA’s sales went to the Tipo model, which alone accounted for almost 93% of total sales for the group, and 7% of total sales in its category, an increase of 3.2% compared to 2018. In 2019, the Tipo model advanced from sixth to fourth place.
Tipo is expected to continue its sales increase in 2020 as well as its acquisition of a larger market share after massive discounts applied on the car following the elimination of customs on Turkish cars early this year.
The last wave of discounts included the arrival of the first category of Tipo with the normal gear transmission at EGP 190,000, while the price of the second category amounted to EGP 205,000. The price of Fiat Tipo third category with automatic gear transmission reached EGP 250,000, and the fourth category at EGP 285,000, in addition to the hatchback version, where the price of the first category amounted to EGP 270,000, and the second to EGP 310,000.
It is worth noting that the group achieved these figures despite the decrease in total passenger car sales by 13%, and the decrease in sales of imported cars by 8%.
Globally, FCA’s deliveries decreased by 9% to 4.418m cars, due to several problems worldwide, and despite this, FCA has managed to achieve profits of €6.7bn excluding interest and taxes in North America, with a margin of 9.1%, or an increase of 50 points.
The two brands Ram and Jeep have seen an increase in their sales by 18% through Ram 1500 and Ram 1500 Classic models. Moreover, launching the new Jeep Gladiator was a main reason for achieving optimal results in North America. The car has recently acquired the title of being the “best pick up truck” in North America 2020.
French PSA and FCA have announced a preliminary agreement six weeks ago to completely merge through the stock exchange. This will result in a company worth $50bn, and it will unify brands like Fiat, Jeep, Dodge, Ram, and Maserati with its peers Peugeot, Opel, and DS. It will also contribute to reducing production costs by approximately $4.1bn annually without shutting down any factories the two groups have.