{"id":584519,"date":"2023-04-02T00:00:00","date_gmt":"2023-04-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/02\/auto-sales-slide-again\/"},"modified":"2023-04-02T00:00:00","modified_gmt":"2023-04-02T00:00:00","slug":"auto-sales-slide-again","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/02\/auto-sales-slide-again\/","title":{"rendered":"Auto sales slide again"},"content":{"rendered":"

<\/span>The automotive industry can\u2019t catch a break right now:<\/span> The yearlong decline <\/span>in auto sal<\/span>es accelerated in Febru<\/span>ary as the foreign currency <\/span>shortage continues to weigh on the sector. Sales were down 76% y-o-y last month, with distributors selling fewer than 6.1k vehicles compared to 25.6k in the same month in 2022, <\/span>accordi<\/span>ng to figures released by the Automotive Marketing Information Council (<\/span>AMIC). <\/span><\/p>\n

The breakdown:<\/span> On a y-o-y basis passenger car sales were down by 78% to 4.3k units from <\/span>19.7k units in February 2022, while bus sales were down by 54% and truck sales were 75% lower. <\/span>AMIC figures reflect data contributed by member distributors, who include most (but not all) industry participants.<\/span><\/p>\n

The start of a turnaround? Passenger car sales inch up from January:<\/span> Sales volumes rose on a monthly basis for the first time in a year thanks to a pickup in passenger car sales, which rose 24% <\/span>from January<\/a><\/span>. <\/span>Bus volumes fell by 5% and truck sales volumes were 8% lower than in January. <\/span><\/p>\n

REFRESHER- The auto industry has seen better days.<\/span> Total sales volumes <\/span>fell more than a<\/a><\/span>third<\/a><\/span> in 2022 after capital controls in place for most of the year made it almost impossible for distributors to import cars and components \u2014 and forced a number of global car manufacturers to suspend sales to Egypt.<\/span><\/p>\n

Industry players that Enterprise spoke with in March were <\/span>optimistic<\/a><\/span>that 2023 will mark a <\/span>turning point for the sector<\/span> as the government rolls back import restrictions while introducing policies to encourage local and international investment.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Volumes rise on a monthly basis for the first time in a year<\/p>\n","protected":false},"author":1,"featured_media":584520,"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":[143,144,104,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-584519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-amic","tag-automotive","tag-economy","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"dcdec126-9dcd-40d8-afc1-a6e569b9b295","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/3.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt auto sales fall 76% in February","related_issue":[584512],"teaser":"Volumes rise on a monthly basis for the first time in a year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.0ac9c61b-8401-42d8-b77c-efe04088fa74.mp3"},"yoast_head":"\nAuto sales slide again - 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\/2023\/04\/02\/auto-sales-slide-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Auto sales slide again\" \/>\n<meta property=\"og:description\" content=\"Volumes rise on a monthly basis for the first time in a year\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/02\/auto-sales-slide-again\/\" \/>\n<meta property=\"og:site_name\" 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