{"id":587613,"date":"2023-05-30T00:00:00","date_gmt":"2023-05-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/30\/car-sales-drop-69-in-april\/"},"modified":"2023-05-30T00:00:00","modified_gmt":"2023-05-30T00:00:00","slug":"car-sales-drop-69-in-april","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/30\/car-sales-drop-69-in-april\/","title":{"rendered":"Car sales drop 69% in April"},"content":{"rendered":"

<\/span>Auto sales dip to new lows in April: <\/span>Auto sales fell 69% in April from a year ago as the <\/span>shortage of foreign currency continued to impact the automotive industry. Distributors sold 5.1k vehicles during the month, compared to 16.6k in April 2022, according to <\/span>figures <\/span>released yesterday by the Automotive Marketing Information Council (AMIC). <\/span>This is the lowest since at least the start of 2018,<\/span> per our internal trackers<\/span>.<\/span><\/p>\n

The breakdown: <\/span>Passenger car sales fell 70% y-o-y to 3.8k units, bus sales were down 59% y-o-y and truck sales were down 69%. AMIC figures reflect data contributed by member distributors, who include most (but not all) industry participants.<\/span><\/p>\n

The downward trend continued on the <\/span>month<\/span>: <\/span>April sales were down 23% from <\/span>March\u2019s figures<\/a><\/span>, with passenger cars recording a 17% decrease, buses a 31% drop and trucks down 39%. <\/span><\/p>\n

It\u2019s been a tough year for the auto market: <\/span>Total auto sales volumes <\/span>fell more than a 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, and forced a number of global car manufacturers to suspend sales to Egypt.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Monthly auto sales dropped to their lowest levels since at least the start of 2018<\/p>\n","protected":false},"author":1,"featured_media":587614,"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-587613","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":"20dc6be7-422f-4d68-83cc-5e60b4e89737","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1578.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian auto sales drop 69% in April","related_issue":[587606],"teaser":"Monthly auto sales dropped to their lowest levels since at least the start of 2018","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.5a8f43db-e05c-4ad9-addf-42351d65bfd7.mp3"},"yoast_head":"\nCar sales drop 69% in April - 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