{"id":577608,"date":"2022-11-29T03:54:47","date_gmt":"2022-11-29T03:54:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/29\/egypt-car-sales-down-again-in-october\/"},"modified":"2022-11-29T03:54:47","modified_gmt":"2022-11-29T03:54:47","slug":"egypt-car-sales-down-again-in-october","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/29\/egypt-car-sales-down-again-in-october\/","title":{"rendered":"Egypt car sales down again in October"},"content":{"rendered":"

<\/a> Auto sales down yet again: <\/strong>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.<\/p>\n

Passenger vehicle sales hit a 4.5 year low for a <\/strong>second consecutive month<\/a><\/strong> \u2014 excluding April 2020, when sales slumped amid the outbreak of the pandemic. We\u2019ve tracked AMIC sales data going back to the start of 2018.<\/p>\n

Buses and trucks were no exception: <\/strong>Around 1.4k buses were sold during the month, down 43% from October last year. Truck sales were down 63% to 1.5k units. Total vehicle sales dropped 65% y-o-y to 9k in October. AMIC figures reflect data contributed by member distributors, who include most (but not all) industry participants.<\/p>\n

It\u2019s been an annus horribilis for the auto industry \u2014 but there may be light at the end of the tunnel: <\/strong>The central bank is in the process of rolling back import restrictions it introduced in February to preserve foreign currency. The new rules<\/a> 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 to suspend sales<\/a> to Egypt. The restrictions could be fully lifted by the end of the year<\/a> \u2014 but it will likely take longer to solve an FX shortage that is reportedly slowing the release of goods<\/a> at ports \u2014 and to repair the severed links in our auto supply chain.<\/p>\n

In other words: Don\u2019t expect showrooms to be significantly restocked until closer to mid-year 2023<\/strong> by the time local assemblers place and receive kit orders and importers of fully built-up units are able to place, pay for and receive goods.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 hit a 4.5 year […]<\/p>\n","protected":false},"author":1,"featured_media":577609,"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":[143,144,901,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-amic","tag-automotive","tag-data","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"8af7e94a-948b-4e82-88c1-7bf953056801","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/474.jpg","photo_position":"above","related_issue":[577595],"teaser":"","voice_url":""},"yoast_head":"\nEgypt car sales down again in October - 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\/29\/egypt-car-sales-down-again-in-october\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt car sales down again in October\" \/>\n<meta property=\"og:description\" content=\"Auto sales down yet again: Monthly auto sales fell in October as the industry faces continued import difficulties. 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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":543980,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/28\/car-sales-up-13-in-january\/","url_meta":{"origin":577608,"position":1},"title":"Car sales up 13% in January","author":"enterpriseam admin","date":"28 February 2022","format":false,"excerpt":"Passenger car sales were up 13% y-o-y in January, according to industry figures released yesterday. Data from the Automotive Information Council (AMIC) showed that nearly 16.9k cars were sold during the month, up from 14.9k in January 2020.January saw car sales extend a strong run of growth from last year,\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\/2\/387.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":587613,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/30\/car-sales-drop-69-in-april\/","url_meta":{"origin":577608,"position":2},"title":"Car sales drop 69% in April","author":"enterpriseam admin","date":"30 May 2023","format":false,"excerpt":"Monthly auto sales dropped to their lowest levels since at least the start of 2018","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\/5\/1578.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578597,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/05\/car-sales-drop-again-in-november\/","url_meta":{"origin":577608,"position":3},"title":"Car sales drop again in November","author":"enterpriseam admin","date":"5 January 2023","format":false,"excerpt":"Auto sales slump to fresh low: November marked another rough month for auto sales, which fell to their lowest level since at least the start of 2018 as the industry continued to face import restrictions. 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":556968,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/still-counting-cars\/","url_meta":{"origin":577608,"position":4},"title":"Still counting cars","author":"enterpriseam admin","date":"1 September 2021","format":false,"excerpt":"Passenger car sales grew 43% y-o-y in July, with some 17.8k vehicles sold during the month, up from c. 12.5k in July 2020, according to figures from industry association Automotive Information Council (AMIC). On a monthly basis, sales decreased from 19.5k passenger vehicles sold in June 2021 \u2014 an almost\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\/2021\/9\/15.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563482,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/05\/auto-industry-reboot\/","url_meta":{"origin":577608,"position":5},"title":"Auto industry reboot","author":"enterpriseam admin","date":"5 July 2021","format":false,"excerpt":"Passenger car sales almost doubled in May, increasing 88% y-o-y from the same month last year, according to figures from the Automotive Information Council (AMIC). Nearly 15.2k vehicles were sold during the month, up from only 8k in May 2020. 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