Egypt automotive sales down 8% y-o-y in 5M2019

Total vehicle sales in Egypt fell 8.5% y-o-y to 60,207 vehicles in 5M2019, compared to 63,948 vehicles in the same period last year, according to figures from the Automotive Information Council (AMIC) cited by Al Mal. Passenger car sales dropped 10% y-o-y to 41,154 units, while bus sales climbed 3.6% y-o-y to 5,690. The dip in sales is a continuation of a trend witnessed in 4M2019. The automotive industry had shown signs of recovery last year following a slump that was exacerbated by the EGP devaluation in 2016.