Egyptian Automotive Manufacturing Association expects sales to drop by 50% in 1H2017

The Egyptian Automotive Manufacturing Association (EAMA) expects total car sales during 1H2017 to drop 50% year-on-year, due to the “unreasonable” rise in car prices following the EGP float that have led to a near-complete halt in car sales over the past few months, EAMA head Hassan Soliman said, Al Mal reports.