Egypt’s vehicle sales sustain downward trend in 1H2019

Vehicle sales sustain downward trend during the first half of the year: Total car sales in Egypt stood at 74,084 vehicles in 1H2019, down 6.8% y-o-y from 79,474 during the same period last year, according to figures from the Automotive Information Council (AMIC) cited by Hapi Journal. Passenger car sales dropped 11% y-o-y to 51,311 units, while bus sales climbed 4% y-o-y to 7,053. The dip in sales is a continuation of a trend witnessed in 5M2019 and 4M2019. The automotive industry had shown signs of recovery last year following a slump that was exacerbated by the EGP devaluation in 2016.