30% drop in auto imports in 1H17

Auto imports dropped 30% in 1H17, Customs Authority head Magdi Abdel Aziz tells Al Mal. Auto importers have significantly reduced volumes on the back of weak demand and soaring prices. Despite the drop the Customs Authority hopes to increase its take from car imports to EGP 8 bn in FY2017-18, from EGP 6 bn in FY2016-17.