Auto sales jump 27.6% from May to June: Auto sales in June rose 27.6% m-o-m to just over 8k vehicles, according to figures from the Automotive Marketing Information Council (AMIC) seen by Enterprise. The increase follows a 10.8% m-o-m uptick in May and a significant 35.1% m-o-m increase in April, which saw sales rebound to 5.7k units from March’s 4.2k — the lowest number of auto sales we’ve seen since we started keeping track in January 2019.

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But not every auto segment saw sales increase over the month: Passenger car sales jumped 34.4% m-o-m to some 6.5k units in June, while bus sales rose 36.2% m-o-m to 613 units. However, truck sales saw a 8.1% decline to 938 units during the same period.

Remember: Auto sales have been relatively volatile — but overall on the decline — for the last few years. In late 2023, auto sales fell even further on the back of FX shortages that limited supply in the market and gave distributors leverage to hike prices as they pleased. Despite prices reducing following the float of the EGP in March, the anticipated uptick in car sales did not happen as some believe customers adopted a wait-and-see approach in hopes of further price reductions down the line. The last three months of consecutive auto sales increases may be a sign that consumers are starting to return to the market.

On a yearly basis: Auto sales in June came 26.6% higher than the 6.3k units sold in June 2023, driven by a 33.4% y-o-y increase in truck sales, and a 29.5% increase in passenger cars sales. Bus sales were down 3.6% compared to the same period last year.

The caveat: AMIC figures reflect data contributed by member distributors, who include most, but not all, industry participants.

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