Auto sales to fall short of targets this year

Automotive sales will unlikely surpass 170k units by the end of the year, after initially being expected to reach 200k units, head of the automotive traders association Osama Abo El Magd told Youm7. According to Abo El Magd, the expected fall to 0% of customs duties on European cars as of 1 January is putting a damper on demand. The slowdown is expected to persist throughout 1Q2019 until prices stabilize and consumer confidence picks up.