{"id":576866,"date":"2022-11-01T04:00:05","date_gmt":"2022-11-01T04:00:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/egypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car\/"},"modified":"2022-11-01T04:00:05","modified_gmt":"2022-11-01T04:00:05","slug":"egypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/egypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car\/","title":{"rendered":"Egypt car sales hit 4.5-year low in September on supply constraints \u2014 when will you be able to actually buy a car?"},"content":{"rendered":"

<\/a> Auto sales slump to 4.5-year low:<\/strong> Monthly auto sales fell to their lowest level since 2018 in September as import restrictions continued to weigh on the market. Figures released by the Automotive Information Council (AMIC) yesterday showed that only 6.8k passenger cars were sold during the month, 60% fewer than in September 2021. This is the lowest monthly sales volume since January 2018.<\/p>\n

Other vehicle types didn\u2019t fare (quite) as badly:<\/strong> Truck sales fell 33% to around 2.8k while sales of buses were down 8% to around 1.8k. Overall vehicle sales were down 50% to 11.4k, the lowest figure since the covid-19 lockdown in April 2020.<\/p>\n

ICYMI- The auto sector has been suffering:<\/strong> Car sales have fallen through most of 2022 thanks to import restrictions. Amid tightening financial conditions globally, the Central Bank of Egypt (CBE) imposed sharp restrictions<\/a> on imports to preserve foreign currency, which have made it almost impossible for distributors to bring fully built up vehicles, assembly kits, and spare parts into the country and forced a number of global car manufacturers<\/a> to suspend sales to Egypt.<\/p>\n

Light at the end of the tunnel: <\/strong>The central bank will by the end of the year phase out the requirement to finance i<\/a>mports via L\/Cs<\/a> \u2014 the measure was the primary way the bank had been stifling imports. In the meantime, new governor Hassan Abdalla is allowing shipments worth as much as USD 500k (up from a previous limit of USD 5k) to be cleared through the old documentary collection system.<\/p>\n

That last bit suggests that spares, at least, will likely become more available in the weeks to come <\/strong>\u2014 and that some smaller shipments of vehicles in port since spring might come through at the same time.<\/p>\n

But it will be months before vehicle supply improves. <\/strong>Global producers have been redirecting to other markets production (of both assembly kids and completely built vehicles) that they had previously earmarked for Egypt. It\u2019s going to take months for distributors here to place orders, global suppliers to make and ship \u2014 and then longer still if you\u2019re looking for a model that is assembled in Egypt.<\/p>\n

And the Madbouly government\u2019s expat car program is unlikely to eat substantially into pent-up demand. <\/strong>The scheme<\/a> has opened a four-month window for Egyptians working abroad to pay for vehicles up front in hard currency in return for the right to import a new car with the promise they\u2019ll get taxes and customs back in local currency five years down the road. The Finance Ministry thinks the scheme will convince hundreds of thousands of Egyptians abroad to purchase vehicles.<\/p>\n","protected":false},"excerpt":{"rendered":"

Auto sales slump to 4.5-year low: Monthly auto sales fell to their lowest level since 2018 in September as import restrictions continued to weigh on the market. Figures released by the Automotive Information Council (AMIC) yesterday showed that only 6.8k passenger cars were sold during the month, 60% fewer than in September 2021. This is […]<\/p>\n","protected":false},"author":1,"featured_media":576867,"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-576866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-amic","tag-automotive","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"14b3ae47-c924-4ff2-a5b9-4b0ea2d6c2db","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/39.jpg","photo_position":"above","related_issue":[576860],"teaser":"","voice_url":""},"yoast_head":"\nEgypt car sales hit 4.5-year low in September on supply constraints \u2014 when will you be able to actually buy a car? - 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\/11\/01\/egypt-car-sales-hit-4-5-year-low-in-september-on-supply-constraints-when-will-you-be-able-to-actually-buy-a-car\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt car sales hit 4.5-year low in September on supply constraints \u2014 when will you be able to actually buy a car?\" \/>\n<meta property=\"og:description\" content=\"Auto sales slump to 4.5-year low: Monthly auto sales fell to their lowest level since 2018 in September as import restrictions continued to weigh on the market. 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Some 5.2k passenger vehicles were sold in November, down 74% from November 2021, according to\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\/2023\/1\/87.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":658096,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/05\/auto-sales-continue-to-rise-12-5-for-the-second-consecutive-month-in-november\/","url_meta":{"origin":576866,"position":2},"title":"Auto sales continue to rise 12.5% for the second consecutive month in November","author":"enterpriseam admin","date":"5 January 2025","format":false,"excerpt":"Passenger car sales drove the trend with a 14.8% m-o-m increase to 8.5k for the month","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\/2021\/2\/3999.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579329,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/02\/auto-sales-fall-73-in-december\/","url_meta":{"origin":576866,"position":3},"title":"Auto sales fall 73% in December","author":"enterpriseam admin","date":"2 February 2023","format":false,"excerpt":"Auto sales slump continues in December: Auto sales fell 73% y-o-y in December as import restrictions continued to weigh on the sector. Some 7.9k vehicles were sold during the month, compared to almost 29.3k in December 2021, according to figures released by the Automotive Marketing Information Council (AMIC). This is\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\/2023\/2\/36.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":654518,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/04\/auto-sales-fall-for-the-second-consecutive-month-in-september\/","url_meta":{"origin":576866,"position":4},"title":"Auto sales fall for the second consecutive month in September","author":"enterpriseam admin","date":"4 November 2024","format":false,"excerpt":"The decline was driven by car sales","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\/2024\/11\/169.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577608,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/29\/egypt-car-sales-down-again-in-october\/","url_meta":{"origin":576866,"position":5},"title":"Egypt car sales down again in October","author":"enterpriseam admin","date":"29 November 2022","format":false,"excerpt":"Auto sales down yet again: Monthly auto sales fell in October as the industry faces continued import difficulties. Less than 6.1k passenger vehicles were sold last month, down 69% from the same month last year, according to figures released by the Automotive Information Council (AMIC), an industry group.Passenger vehicle sales\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\/11\/474.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\/576866","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=576866"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/576866\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/576860"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/576867"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=576866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=576866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=576866"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=576866"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=576866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}