Automotive sales fell 46.5% year-on-year in 1Q2017 to 26.5k vehicles, down from 49.6k during the same period in 2016, according to the latest report from the Automotive Information Council (AMIC), an industry body, picked up by Al Borsa. According to the report, sales of locally assembled vehicles were down nearly 46% year on year, while 47% fewer fully imported vehicles were sold. Passenger car sales declined 40% to 19,700 vehicles sold, down from 33,400 in the same period last year. Bus sales dropped nearly 55% y-o-y, with 2,955 units sold, down from 6,529, while truck sales for the period declined 60% to 3,888 from 9,735.
More from Enterprise
CIB’s 3Q net income falls 17% y-o-y, 9M core earnings grow 18%
Here are the stories driving the day, both at home…
Electricity Ministry studies changing how your electricity bill gets calculated
The plan is still under study, and neither of the…
EGX’s newest investors meet their first selloff
Heavy borrowing, margin calls, and looming repayments could make a…