{"id":605451,"date":"2023-08-31T00:00:00","date_gmt":"2023-08-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/31\/auto-sales-remain-low-in-july\/"},"modified":"2023-08-31T00:00:00","modified_gmt":"2023-08-31T00:00:00","slug":"auto-sales-remain-low-in-july","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/31\/auto-sales-remain-low-in-july\/","title":{"rendered":"Auto sales remain low in July"},"content":{"rendered":"

Auto sales dipped in July <\/strong>as the industry continues to be weighed down by the impact of the FX crisis. Car dealers sold 6,295 vehicles in July, slightly from 6,331 in June<\/a>, according to figures released yesterday by the Automotive Marketing Information Council (AMIC). That\u2019s 51% lower than the 12.7k vehicles that were sold in July 2022. <\/p>\n

The breakdown: <\/strong> Companies sold fewer than 5k passenger cars during the month, largely unchanged from the month before and 45% lower than July 2022. Bus sales volumes fell 11% from the month prior to 566. Truck sales, meanwhile, rose 13% from June to 797. AMIC figures reflect data contributed by member distributors, who include most (but not all) industry participants.<\/p>\n

It\u2019s been a tough year for the industry: <\/strong>Distributors have sold some 31.8k passenger cars since the start of the year, down 69% from the first seven months of 2022. <\/p>\n

REMEMBER- <\/strong> The country\u2019s currency crisis continues to weigh heavily on the local auto sector, as a shortage of FX creates obstacles to importing vehicles amid high inflation. Total auto sales fell more than a third in 2022 after capital controls put 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.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fewer than 5k passenger cars were sold during July<\/p>\n","protected":false},"author":1,"featured_media":605452,"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-605451","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":"10b7ad65-2a9b-4140-9a14-2bff4401e983","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/1449.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt auto sales remain low in July","related_issue":[605440],"teaser":"Fewer than 5k passenger cars were sold during July","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.0f2ed863-b01e-4110-8f77-0b04542a5d00.mp3"},"yoast_head":"\nAuto sales remain low in July - 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