Car sales to remain in a slump for what remains of 1H2017

The slump in car sales is likely to last through the rest of 1H2017 as prices continue to climb, Federation of Egyptian Chambers of Commerce member Alaa El Sabaa tells Al Mal. The drop in sales is the sharpest since 2004. We noted earlier this week that car sales for February were down 60% year-on-year, despite the market’s attempt to battle the slump with discounts and promotional offers.