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Egypt’s automotive sales up 36% m-o-m in May - Daily News Egypt

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Egypt’s automotive sales up 36% m-o-m in May

GB Auto market share declined to 13.9%, down from 19.5% in April

Egypt’s total automotive sales rose 36.2% month-on-month (m-o-m) in May, amounting to 12,130 units, despite the figures reflecting a decline of 10.9% year-on-year (y-o-y). 

The latest industry figures show signs that demand is slowly recovering following the lows reported in March and April due to the novel coronavirus (COVID-19) outbreak. Passenger car sales were down 17.5% y-o-y, but surged 38.3% m-o-m, amounting to 8,100 units.

GB Auto, the Egypt agent for Hyundai, Mazda, Geely and Chery, reported a total market share of 13.9% in May 2020, down from the 18.5% reported in May 2019. The company’s latest figures also reflected a decline from the 19.5% reported in April 2020.

AUTO’s PC sales in May declined 38.0% y-o-y, and 1.5% m-o-m, amounting to 1,120 units. The y-o-y decline was driven mainly by lower CBU automotive sales, which saw a decline of 53.2%, as well as lower CKD sales, which were down 2.9%.

Although CBU sales were up 13.4%, the m-o-m decline resulted from lower CKD sales of 14.0%.  MM Group for Industry and International Trade (MTI) saw a rise in sales of Jaguar and Land Rover brands, with a rise of 110% y-o-y, and 15.0% m-o-m, amounting to 84 units in May 2020        

Topics: Automotive Sales

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