Ghabbour Auto (GB AUTO), the Egypt agent for Hyundai, Mazda, Geely, Chery, saw its total market share decline to 17.2% in March 2020, down from the 20.3% reported in March 2019.
AUTO’s passenger car (PCs) sales in March rose 16.5% y-o-y, but declined 10.4% m-o-m, amounting to 2,000 units.
The y-o-y growth was driven mainly by a 56.3% increase in completely-knocked-down (CKD) sales, while completely-built-up (CBU) sales were down 7.3%. The m-o-m decline was mainly from lower CKD sales, which were down 24.6%, but with CBU up 6.5%.
AUTO’s PC sales volumes grew 22.3% y-o-y in the first quarter (Q1) of 2020, amounting to 6,200 units, which are good results for Egypt’s passenger car segment.
In a surprise development, Egypt’s total automotive sales in March 2020 recorded strong a y-o-y performance for the third consecutive month, despite the curfews and the halt in new vehicle license issuances.
Total auto volumes were up 30.7% y-o-y, but down 25% m-o-m, amounting to 16,700 units, as the first three months of the year is a traditionally slow period of sales. Sales of passenger cars grew 37.6% y-o-y, but were down 30% m-o-m, amounting to 11,700 units.