{"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":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/span><span style=\"font-weight:700\">The automotive industry can\u2019t catch a break right now:<\/span><span style=\"\"> The yearlong decline <\/span><span>in auto sal<\/span><span>es accelerated in Febru<\/span><span>ary as the foreign currency <\/span><span style=\"\">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><span>accordi<\/span><span>ng to figures released by the Automotive Marketing Information Council (<\/span><span style=\"font-weight:400;\">AMIC). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The breakdown:<\/span><span> On a y-o-y basis passenger car sales were down by 78% to 4.3k units from <\/span><span>19.7k units in February 2022, while bus sales were down by 54% and truck sales were 75% lower. <\/span><span style=\"font-weight:400;\">AMIC figures reflect data contributed by member distributors, who include most (but not all) industry participants.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The start of a turnaround? Passenger car sales inch up from January:<\/span><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><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d463dc2-1866-4537-98f9-056ed5e6f8a8\" style=\"\">from January<\/a><\/span><span>. <\/span><span>Bus volumes fell by 5% and truck sales volumes were 8% lower than in January. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REFRESHER- The auto industry has seen better days.<\/span><span> Total sales volumes <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/707b4238-00f7-470d-b784-f4371dcd1abf\" style=\"\">fell more than a<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/707b4238-00f7-470d-b784-f4371dcd1abf\" style=\"\">third<\/a><\/span><span style=\"font-weight:400;\"> 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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Industry players that Enterprise spoke with in March were <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f58bf2e9-4bd9-4c62-a46a-9a277f99088e\" style=\"\">optimistic<\/a><\/span><span style=\"font-weight:700\">that 2023 will mark a <\/span><span style=\"font-weight:700\">turning point for the sector<\/span><span style=\"font-weight:400;\"> as the government rolls back import restrictions while introducing policies to encourage local and international investment.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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On a monthly basis, sales decreased from 19.5k passenger vehicles sold in June 2021 \u2014 an almost\u2026","rel":"","context":"In &quot;Automotive&quot;","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":587613,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/30\/car-sales-drop-69-in-april\/","url_meta":{"origin":584519,"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 &quot;Automotive&quot;","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":577608,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/29\/egypt-car-sales-down-again-in-october\/","url_meta":{"origin":584519,"position":3},"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 &quot;Automotive&quot;","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":[]},{"id":563482,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/05\/auto-industry-reboot\/","url_meta":{"origin":584519,"position":4},"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). 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