Discounts for cars in place until mid-April amid continued decline in sales

Discounts on cars will remain in place until mid-April or until a quota of car sales is reached, Volkswagen marketing manager at the Egyptian Automotive Company Maha El Naggar tells Al Mal. Distributors had announced a number of discounts last month to combat the slump in the industry’s sales which continues unabated. Industry sales fell 60% year-on-year during February, according to the latest report from the Automotive Information Council (AMIC), Al Borsa reports. Passenger car sales alone were down 59% y-o-y, while buses recorded a drop of 59.4% in February 2017 compared to the same month last year. Sales of truck were down 69.5% y-o-y.