{"id":549817,"date":"2022-10-02T04:12:39","date_gmt":"2022-10-02T04:12:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/02\/car-sales-fell-once-again-in-august\/"},"modified":"2022-10-02T04:12:39","modified_gmt":"2022-10-02T04:12:39","slug":"car-sales-fell-once-again-in-august","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/02\/car-sales-fell-once-again-in-august\/","title":{"rendered":"Car sales fell once again in August"},"content":{"rendered":"

Auto sales were down by more than half in August compared with the same month a year <\/strong>before <\/strong>as the market continues to struggle with barriers to import. Passenger car sales dropped nearly 53% y-o-y last month to just 8.7k vehicles, according to figures provided by the Automotive Information Council (AMIC).<\/p>\n

Buses and trucks were no exception: <\/strong>Around 1k buses were sold in August \u2014 down more than 47% y-o-y. Truck sales saw a near 14% y-o-y drop to around 3.7k units. Total vehicle sales dropped 45% y-o-y to 13.4k units.<\/p>\n

ICYMI- It\u2019s been tough terrain for the auto sector. <\/strong>Passenger vehicle sales also halved y-o-y in July<\/a>, extending months of steep declines<\/a>. The market has been hit by rules<\/a>requiring importers to get letters of credit (L\/Cs)<\/a> that limited imports to a handful of essential goods, leaving new cars and car parts stranded at ports and pushing a number of global car manufacturers<\/a> to suspend sales here.<\/p>\n

The sector is hoping its luck will soon turn: <\/strong>The blockbuster economic conference we\u2019re expecting at some point this month could include steps to resolve import challenges<\/a>, President Abdel Fattah El Sisi said last week. Meanwhile, the government\u2019s automotive committee held its first meeting<\/a> last week, suggesting we could soon get more details on the automotive strategy<\/a> that aims to increase local assembly and reduce the sector\u2019s reliance on imported parts and cars.<\/p>\n","protected":false},"excerpt":{"rendered":"

Auto sales were down by more than half in August compared with the same month a year before as the market continues to struggle with barriers to import. Passenger car sales dropped nearly 53% y-o-y last month to just 8.7k vehicles, according to figures provided by the Automotive Information Council (AMIC). Buses and trucks were […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7339],"tags":[143,144,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549817","post","type-post","status-publish","format-standard","hentry","category-automotive","tag-amic","tag-automotive","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"6c562b58-f321-4f4a-9090-76da876f7511","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[549804],"teaser":"","voice_url":""},"yoast_head":"\nCar sales fell once again in August - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/02\/car-sales-fell-once-again-in-august\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Car sales fell once again in August\" \/>\n<meta property=\"og:description\" content=\"Auto sales were down by more than half in August compared with the same month a year before as the market continues to struggle with barriers to import. 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Data from the Automotive Information Council (AMIC) showed that local distributors move some 18.3k units during the month, up from 15.9k in August 2020, while on a monthly basis sales\u2026","rel":"","context":"In "AUTO"","block_context":{"text":"AUTO","link":"https:\/\/enterpriseam.com\/egypt\/category\/auto\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/43.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590709,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/31\/passenger-car-sales-decline-by-4-y-o-y-in-november\/","url_meta":{"origin":549817,"position":1},"title":"Passenger car sales decline by 4% y-o-y in November","author":"enterpriseam admin","date":"31 December 2019","format":false,"excerpt":"Passenger car sales were down in November for the ninth consecutive month, declining 4% y-o-y to 12,321 vehicles, according to an Automotive Information Council (AMIC) report (pdf). However, bus and truck sales increased 34.1% and 36.5% y-o-y, respectively, during the month. 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Data from the Automotive Information Council (AMIC) showed that 19.7k units were sold during the month, down from 20.5k during November of 2020 and 19.3k units in October.The chip shortage is making itself felt: November\u2019s\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/29.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555105,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/02\/car-sales-dip-in-september-thank-the-global-chip-shortage\/","url_meta":{"origin":549817,"position":4},"title":"Car sales dip in September \u2014 thank the global chip shortage","author":"enterpriseam admin","date":"2 November 2021","format":false,"excerpt":"Passenger car sales dipped slightly in September, falling more than 2% y-o-y from the same month last year, according to industry figures released yesterday. 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