{"id":559688,"date":"2021-02-01T04:06:47","date_gmt":"2021-02-01T04:06:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/01\/auto-component-industry-feels-the-covid-burn\/"},"modified":"2021-02-01T04:06:47","modified_gmt":"2021-02-01T04:06:47","slug":"auto-component-industry-feels-the-covid-burn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/01\/auto-component-industry-feels-the-covid-burn\/","title":{"rendered":"Auto component industry feels the covid burn"},"content":{"rendered":"

<\/a> Sales of auto components fell 20-30% in 2020<\/strong> as the pandemic caused a slowdown in the domestic auto assembly industry, said Abdel Moneim El Kady, deputy head of the Chamber of Engineering Industries, according to Al Mal<\/a>. Suppliers were hit as assemblers reacted to the fall in consumer demand by reducing or delaying orders, he said.<\/p>\n

Strong auto sales don\u2019t necessarily mean that suppliers had a good year:<\/strong> Despite the partial lockdown of the economy in 2Q, auto sales otherwise held up through 2020 rising 2.8% in the first 11 months of the year. But El Kady said that the strong sales didn\u2019t translate into more orders for suppliers, suggesting that assemblers were clearing out accumulated inventory.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sales of auto components fell 20-30% in 2020 as the pandemic caused a slowdown in the domestic auto assembly industry, said Abdel Moneim El Kady, deputy head of the Chamber of Engineering Industries, according to Al Mal. Suppliers were hit as assemblers reacted to the fall in consumer demand by reducing or delaying orders, he […]<\/p>\n","protected":false},"author":1,"featured_media":559689,"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":[7255],"tags":[144,107,72,131,239],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manufacturing","tag-automotive","tag-covid-19","tag-enterpriseam","tag-manufacturing","tag-supply-chain","wpautop","entry"],"acf":{"mongo_id":"93dd0dc3-a6dc-4c5e-bd81-43d4dbfdb483","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/22.jpg","photo_position":"above","related_issue":[559677],"teaser":"","voice_url":""},"yoast_head":"\nAuto component industry feels the covid burn - 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\/2021\/02\/01\/auto-component-industry-feels-the-covid-burn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Auto component industry feels the covid burn\" \/>\n<meta property=\"og:description\" content=\"Sales of auto components fell 20-30% in 2020 as the pandemic caused a slowdown in the domestic auto assembly industry, said Abdel Moneim El Kady, deputy head of the Chamber of Engineering Industries, according to Al Mal. Suppliers were hit as assemblers reacted to the fall in consumer demand by reducing or delaying orders, he […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/01\/auto-component-industry-feels-the-covid-burn\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-01T04:06:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/22.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/01\/auto-component-industry-feels-the-covid-burn\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/01\/auto-component-industry-feels-the-covid-burn\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Auto component industry feels the covid burn\",\"datePublished\":\"2021-02-01T04:06:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/01\/auto-component-industry-feels-the-covid-burn\/\"},\"wordCount\":122,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/01\/auto-component-industry-feels-the-covid-burn\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/22.jpg?fit=%2C&ssl=1\",\"keywords\":[\"automotive\",\"covid-19\",\"EnterpriseAM\",\"Manufacturing\",\"supply chain\"],\"articleSection\":[\"Manufacturing\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/01\/auto-component-industry-feels-the-covid-burn\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/01\/auto-component-industry-feels-the-covid-burn\/\",\"name\":\"Auto component industry feels the covid burn - 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The auto industry is apparently going through a spate of layoffs, with 10-15% of employees having been let go from January to April, according to Egyptian Automotive Manufacturing Association head Hassan Suleiman. 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