Toyota aims to sell 11,000 cars by end of 2017

Toyota Egypt aims to sell 11,000 vehicles by the end of 2017 as it sees the market recovering in the coming period, CEO Ahmed Monsef said yesterday, according to Al Mal. The company’s sales were down by 30% y-o-y in 2016, impacted — as with the rest of the auto market — by the EGP float, soaring inflation rates, and diminished purchasing power and demand. The Automotive Information Council expects the auto market to remain in a slump, with sales seen dropping by another 50% in 2017.