Meanwhile, Egypt was ranked the world’s 39th largest auto producer for a second year in a row in the International Organization of Motor Vehicle Manufacturers’ 2017 global production statistics report. Overall output grew 1.13% y-o-y, with the increase largely attributed to a bump in heavy truck output to 26,670 from 25,300 in 2016. Passenger car production to fell 9,970 vehicles from 10,930.
More from Enterprise
The National Bank of Egypt and Banque Misr just hiked rates on CDs — moves that could see the EGP gain against the USD
NBE and BM both hiked rates on CDs by 125…
Qatar’s Green Sky Capital secures financing for USD 200 mn SAF plant
The facility could add more than 10% to global SAF…
EGX30 erases March losses with 14.2% April surge
The rally piled on roughly EGP 433 bn in market…
Kiwe gets Central Bank green light to launch nationwide
The startup is backed by our friends at EFG Hermes,…