{"id":585856,"date":"2023-05-01T00:00:00","date_gmt":"2023-05-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/01\/auto-sales-fall-72-in-march\/"},"modified":"2023-05-01T00:00:00","modified_gmt":"2023-05-01T00:00:00","slug":"auto-sales-fall-72-in-march","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/01\/auto-sales-fall-72-in-march\/","title":{"rendered":"Auto sales fall 72% in March"},"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 auto industry has yet to recover: <\/span><span style=\"\">The auto sector\u2019s year-long slump extended for <\/span><span style=\"\">another month in March as a shortage of foreign currency continued to negatively impact imports. Sales were down 72% y-o-y <\/span><span style=\"\">in March<\/span><span style=\"\">, with distributors selling fewer than 6.7k vehicles, according to <\/span><span style=\"\">figures released yesterday by the Automotive Marketing Information Council (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 style=\"font-weight:400;\">Passenger car sales fell 76% y-o-y to 4.6k units, while bus sales were down 63% and truck sales were 58% lower. 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 silver lining: Total sales volumes rose slightly on a monthly basis for a second consecutive month. <\/span><span style=\"\">Passenger car sales were up almost 9% from <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dcdec126-9dcd-40d8-afc1-a6e569b9b295\" style=\"\">February<\/a><\/span><span style=\"\">and truck sales increased by nearly a third. Bus sales volumes were 17% lower than in February. <\/span><span>Industry players that Enterprise spoke with in March were <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f58bf2e9-4bd9-4c62-a46a-9a277f99088e\" style=\"\">optimistic<\/a><\/span><span> that 2023 will mark a turning point for the sector, which has been struggling with supply issues for more than a year.<\/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- <\/span><span>Total auto 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 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, and forced a number of global car manufacturers to suspend sales to Egypt.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sector is showing signs of recovery month-on-month<\/p>\n","protected":false},"author":1,"featured_media":585857,"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-585856","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":"f8a8c4b8-6138-4bd7-8ab5-782ae7a664c7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/982.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt auto sales fall 72% y-o-y in March 2023 as foreign exchange crunch bites","related_issue":[585846],"teaser":"The sector is showing signs of recovery month-on-month","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.c3b1fe5f-d18f-4214-aec2-04d110b75324.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Auto sales fall 72% in March - 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\/05\/01\/auto-sales-fall-72-in-march\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Auto sales fall 72% in March\" \/>\n<meta property=\"og:description\" content=\"The sector is showing 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