Egypt’s passenger car sales rise 55% y-o-y in October

Passenger car sales were up in October for the ninth consecutive month, rising 55% y-o-y to 14,640 vehicles, according to an Automotive Information Council (AMIC) report (pdf). Bus and car sales also increased 48.6% and 52.1% y-o-y, respectively, during the month. Passenger car sales also registered a 39% y-o-y increase in 11M2018, reaching 123.5k units compared to 88.5k in the same period last year, Al Mal said, citing AMIC data. Chevrolet captured a 21.4% market share during the period, followed by Hyundai (17.6%), Nissan (14.3%), Renault (8.4%), and Toyota (7.1%). The automotive industry has been rebounding since January 2018, following a slump that was exacerbated by the EGP devaluation in 2016.