{"id":572702,"date":"2020-07-06T03:57:31","date_gmt":"2020-07-06T03:57:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/06\/egypts-passenger-car-sales-to-shrink-by-over-8-this-year-bmi-research\/"},"modified":"2020-07-06T03:57:31","modified_gmt":"2020-07-06T03:57:31","slug":"egypts-passenger-car-sales-to-shrink-by-over-8-this-year-bmi-research","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/06\/egypts-passenger-car-sales-to-shrink-by-over-8-this-year-bmi-research\/","title":{"rendered":"Egypt\u2019s passenger car sales to shrink by over 8% this year -BMI Research"},"content":{"rendered":"

<\/a> Passenger car sales are forecast to <\/strong>shrink by over 8% this year<\/strong> after having been expected to grow by 9.2% prior to the coronavirus, Fitch Solutions\u2019 BMI research said in a report (paywall)<\/a> on the market in Egypt picked up by the local press<\/a>. The downward revision came as the industry faces headwinds and \u201cworsening local and global economic outlook due to the spread of covid-19.\u201d The situation will continue to deter personal car purchase decisions, says the research house.<\/p>\n

Commercial vehicle sales will also shrink in the short run,<\/strong> but Egypt\u2019s thriving construction industry is likely to create a demand pull for the segment \u2014 which includes trucks, trailers, and heavy equipment transport vehicles \u2014 in the medium term.<\/p>\n

Bus sales, meanwhile, are expected to drop by as much 20% <\/strong>after having been forecast to increase by 2.1%.<\/p>\n

Background: <\/strong>Egypt\u2019s automotive companies saw business grind to a near-complete standstill<\/a> when the government introduced lockdown measures towards the end of March. PC sales dropped for the two following months as the sector is yet to stage a recovery, data from the Automotive Information Council (AMIC) measuring volume in April<\/a> and May<\/a> showed.<\/p>\n","protected":false},"excerpt":{"rendered":"

Passenger car sales are forecast to shrink by over 8% this year after having been expected to grow by 9.2% prior to the coronavirus, Fitch Solutions\u2019 BMI research said in a report (paywall) on the market in Egypt picked up by the local press. The downward revision came as the industry faces headwinds and \u201cworsening […]<\/p>\n","protected":false},"author":1,"featured_media":572703,"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":[8572],"tags":[144,4789,72,3637,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-572702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-automotive","tag-bmi-research","tag-enterpriseam","tag-fitch-solutions","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"d77c2c22-048d-48f3-91bc-ef6f12bf54d1","is_powered_by":true,"section_story_id":"4a90c348-e89b-47d3-ad0f-c47a4c4dfbd1","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/7\/30.jpg","photo_position":"above","related_issue":[572692],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s passenger car sales to shrink by over 8% this year -BMI Research - 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\/2020\/07\/06\/egypts-passenger-car-sales-to-shrink-by-over-8-this-year-bmi-research\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s passenger car sales to shrink by over 8% this year -BMI Research\" \/>\n<meta property=\"og:description\" content=\"Passenger car sales are forecast to shrink by over 8% this year after having been expected to grow by 9.2% prior to the coronavirus, Fitch Solutions\u2019 BMI research said in a report (paywall) on the market in Egypt picked up by the local press. 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The sector is projected to grow 9% on average between 2020 and 2024 after a short-term\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572091,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/your-top-infrastructure-stories-of-the-week-10\/","url_meta":{"origin":572702,"position":1},"title":"Your top infrastructure stories of the week","author":"enterpriseam admin","date":"10 June 2020","format":false,"excerpt":"Your top infrastructure stories of the week: Five cement factories could close this year as covid-19 compounds sector\u2019s woes, officials and analysts told Reuters.Egypt\u2019s construction sector will become the largest in the region by 2029 in terms of value, Fitch Solutions\u2019 BMI research said in a recent report.Siemens Energy will\u2026","rel":"","context":"In \"cement\"","block_context":{"text":"cement","link":"https:\/\/enterpriseam.com\/egypt\/tag\/cement\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598693,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/02\/egypts-budget-deficit-hits-5-3-of-gdp-in-9m2018-2019\/","url_meta":{"origin":572702,"position":2},"title":"Egypt\u2019s budget deficit hits 5.3% of GDP in 9M2018-2019","author":"enterpriseam admin","date":"2 June 2019","format":false,"excerpt":"Egypt\u2019s budget deficit fell to 5.3% of GDP in 9M2018-2019, compared to 6.2% in the same period the previous year, the Finance Ministry said in its April monthly bulletin (pdf). The primary surplus came at 0.7% of GDP during the first nine months of the fiscal year. The numbers came\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599582,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/03\/egypts-passenger-car-sales-rise-55-y-o-y-in-october\/","url_meta":{"origin":572702,"position":3},"title":"Egypt\u2019s passenger car sales rise 55% y-o-y in October","author":"enterpriseam admin","date":"3 January 2019","format":false,"excerpt":"Passenger car sales were up in October for the ninth consecutive month, rising 55% y-o-y to 14,640 vehicles, according to an Automotive Information Council (AMIC) report (pdf). Bus and car sales also increased 48.6% and 52.1% y-o-y, respectively, during the month. Passenger car sales also registered a 39% y-o-y increase\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597714,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/02\/govt-revises-downwards-fy2018-19-growth-forecast-to-5-6\/","url_meta":{"origin":572702,"position":4},"title":"Gov\u2019t revises downwards FY2018-19 growth forecast to 5.6%","author":"enterpriseam admin","date":"2 May 2019","format":false,"excerpt":"EXCLUSIVE- FinMin revises FY2018-2019 growth forecast to 5.6%: The Finance Ministry has revised downwards its growth forecast for FY2018-2019 to 5.6%, down from 5.8% previously, according to an official document seen by Enterprise. The budget deficit declined during the first nine months of the fiscal year to 5.3%, compared to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/276.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":610566,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/22\/egypt-economic-growth-to-accelerate-this-fiscal-year-as-privatization-boosts-investment-bmi\/","url_meta":{"origin":572702,"position":5},"title":"Egypt economic growth to accelerate this fiscal year as privatization boosts investment -BMI","author":"enterpriseam admin","date":"22 November 2023","format":false,"excerpt":"BMI expects inflows from state asset sales to offset headwinds triggered by the war in Gaza","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1219.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/572702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=572702"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/572702\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/572692"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/572703"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=572702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=572702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=572702"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=572702"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=572702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}